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Chancellor Rachel Reeves outlined the Labour Party government's second Autumn Budget on Wednesday (November 26), announcing changes to Inheritance Tax (IHT).

The Budget confirmed a small change to the administrative process attached to bringing pensions into IHT from April 2027.

Essentially, this change means that people responsible for sorting out an estate have to ask pension providers to hold back 50 per cent of someone’s retirement savings.

READ MORE: Everything you should know as £575 extra confirmed for millions of state pensioners

This is so that any tax due can be paid, meaning estate administrators will be able to tell a pension provider to keep back half of the pension for up to 15 months

Rachel Vahey, who leads public policy at AJ Bell, said: "But although th

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