STOP the IHT raid on private pension funds. Government need to rethink quickly.

Rejected 9 signatures

What the petition asks

The Chancellor announced IHT will be added to pension savings after 2027 in the budget.
This will increase the number of households falling into this Tax on death. After years of saving for retirement and encouraged to do so by previous Government tax relief.

To reconsider the Budget statement and offer a more Equitable arrangement a fairer tax regime regarding IHT. The farmers have had much publicity. Equally unfair is IHT of private pension savings Being able to leave money to dependents is threatened with 40% IHT on estate probate over the threshold already limited to £325k. This is particularly difficult for older pension savers now distressed that by saving they're not going to leave monies as intended. Cancel or adjust.

Why it was rejected

There was already a petition about this issue. Duplicates are rejected so signatures collect in one place.

You may wish to sign this petition which calls for the same action: Do not change inheritance tax rules for pensions

Timeline

25 Nov 2024	Petition opened for signatures
23 Dec 2024	Rejected by the Petitions Committee

Key facts

Signatures 9

Status Rejected

Rejected 23 Dec 2024

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