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HMRC says nearly 2,000 estates of people below the age of 55 could fall within its inheritance tax (IHT) raid on pensions. Citywire has reported, in 2027-28, the Labour Party government has modelled taking £43m from 1,200 estates.

This rises to £110m, an increase of more than 100% for the next financial year, from 1,490 estates. For the final financial year of the decade, HMRC projects taking £148m from 1,820 estates.

HMRC expects to make a total of £640m from bringing pensions into the scope of IHT in 2027-28, £1.3bn in 2028-29 and £1.4bn in 2029-30.

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"Please note that this is the static revenue raised from the measure across all estates who would be affected, before any behavioural adjus

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