Pensions and Inheritance Tax: What the 2027 Changes Mean for Your Estate
Hoxton Videos • Pensions and Inheritance Tax: What the 2027 Changes Mean for Your Estate
From April 2027, unused pension funds and death benefits are expected to form part of an individual's estate for UK inheritance tax purposes.
For many people, that raises a much bigger question than simply what happens to their pension: does the wider retirement and estate plan still work as intended?
In this roundtable discussion, Claire Spinks, Global Head of Tax at Hoxton Wealth, sits down with Financial Planner Michael Sappal and Senior Associate Kudret Lodhia to explore what the changes could mean in practice, and the areas individuals and families may want to review ahead of 2027.
What the discussion covers:
- How pensions could interact with inheritance tax and the wider estate from April 2027
- What the changes may mean for beneficiaries
- Why drawing pension funds early should not be viewed as an automatic solution to an inheritance tax concern
- Balancing retirement income needs alongside estate planning objectives
- Reviewing pension nominations and wills together
- Looking beyond pensions at gifting, trusts, life insurance and qualifying assets
- Why the changes add additional complexity for people living overseas or considering leaving the UK
- How residence, cross-border tax considerations, overseas assets and the location of beneficiaries can affect the planning process
The 2027 changes may begin as a conversation about pensions, but they can quickly become a much broader conversation about your wealth, your family, and what you ultimately want that wealth to do.
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