If you have other savings and there might be Inheritance Tax to pay when you’re gone, most advisers will tell you to leave your pensions alone, make sure you’ve added your children and grandchildren as beneficiaries and spend your other money first. Being able to pass on your fund free of IHT is one of the biggest wins from pension freedoms and it looks as though, rather than blowing the lot, many are starting to realise this. And/or being well advised.
“IHT to be ‘battleground policy’ in general election as receipts continue to grow”
Just when you thought Inheritance Tax was to become yesterday’s news, it’s back as, apparently and potentially, a ‘battleground policy’ as the election looms.
