Government to Share Draft Legislation on Inheritance Tax Pension Reforms “Later this Year”
HMRC has confirmed that it is reviewing the issues and views expressed in the response to its consultation on plans to bring pensions into the scope of inheritance tax stating they plan on publishing both a formal response and draft legislation “later this year”.
Featuring in Pensions Age, Private Client Partner Hilesh Chavda, noted that “it is difficult to argue with the calls for the Treasury to rethink how it imposes planned extensions of inheritance tax to retirement funds.”
“Putting aside debates about the rights and wrongs of bringing pensions into the scope of IHT, the big issue is the administration.”
“The proposed system is complex and requires a number of different people to be involved which will only create delays and further complexities in the release of these funds.”
Read the full article including the comments from Hilesh here: Govt to share draft legislation on IHT pension reforms ‘later this year’ | Pensions Age