In a development that underscores the complexities of pension legislation and the challenges of implementing policy changes, HM Revenue and Customs (HMRC) last week issued a crucial emergency communication.
A pension is typically the second largest asset that someone owns (after the family home).
However, they often get overlooked when people think about passing on their wealth, as they fall outside of an estate for inheritance tax (IHT) purposes.
Understanding pensions and what to do when you inherit one can be tricky too, with various options and considerations depending on the type of pension and your circumstances.
This blog…
