Over the coming weeks there will be plenty of speculation about the Autumn Budget. Rather than join the noise, I thought I would share some thoughts on what a “perfect” budget might look like – not necessarily what will happen, but what might actually move the UK forward.
When I was at school, my only sources of information were the books in the library and the teachers in the classroom. Challenging ideas or finding evidence wasn’t easy.
HMRC has published draft legislation which, if approved, will significantly change how pension death benefits are treated for Inheritance Tax (IHT) purposes from April 2027.
Big changes are coming to the way pensions are treated when someone dies. The draft Finance Bill 2025 proposes that, from 6 April 2027, some pension funds will be included in a person’s estate for inheritance tax (IHT).
Retirement planning often focuses on money – pensions, investments, and income. But what about the emotional and psychological shift that comes when you stop working?
From 6 April 2027, unused pensions will be part of the estate for inheritance tax. If you’re an executor, this is what you’ll need to do.
When someone dies, their executors often need to complete HMRC’s IHT400 form — the main inheritance tax return. It’s required when the estate is over the available allowances or involves more complex assets, such as trusts, lifetime gifts, or pensions. Even when no tax is due, the IHT400 can still be needed to fully report the estate.
From 6 April 2027, most unused pension funds and pension death benefits will be included in the deceased person’s estate for IHT calculation, regardless of whether the pension scheme is discretionary or non-discretionary. Current rules allow unused funds in discretionary schemes to pass tax-free; that will no longer apply after implementation.
The Government has announced a major change to how unused pension funds and some death benefits are treated for inheritance tax (IHT). From 6 April 2027, most of these funds will be brought into the estate for IHT purposes.
The term "emerging markets" refers to a broad and diverse group of economies that are at various stages of economic development. But the definition extends beyond income levels. It also includes factors such as capital market accessibility, regulatory frameworks, and investor participation. That’s why high-income economies like Taiwan and South Korea are still classified as emerging alongside lower-income countries like Pakistan.
The Financial Services Growth and Competitiveness Strategy (aka the Leeds Reforms) is launched to support long-term growth, aiming to make the UK the premier location for financial services firms by 2035
The IAAT is designed to help personal investment firms understand how the FCA assesses the suitability of investment advice (excluding retirement income and DB transfers). It provides transparency on the FCA’s methodology during file reviews.
