The UK government has published a second technical note clarifying the inheritance tax treatment of pensions following announcements made in the Autumn Budget 2024. This supplementary guidance expands on details already provided in the first technical note and addresses additional complexities surrounding how pension assets will be taxed in inheritance circumstances. The changes represent a significant shift in pension taxation policy that will affect estates and beneficiaries subject to inheritance tax.
Source: HMRC (GOV.UK) – Read the original