Rejected petition Do not double tax bequeathed pensions by including them in IHT calculations.

Leave the current arrangements in place whereby any residual amounts left in self invested pension pots remain outside IHT calculations. They will be taxed as they are drawn by the recipients as they would be if they were drawn by the pensioner during their life.

More details

Many savers such as the petitioner have been directed to save into their pensions rather than in other savings vehicles and have collected significant sums of money in these, some of which will be passed on to their children when they die who will pay income tax as they draw them down. In many cases it is too late for savers to change strategy as it is unlikely they would have the time to draw down sufficient of these defined contribution pensions before they die.

This petition was rejected

Why was this petition rejected?

There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

You are more likely to get action on this issue if you sign and share a single petition.

You may wish to sign this petition which calls for a similar action: https://petition.parliament.uk/petitions/700306

We only reject petitions that don’t meet the petition standards.

Date submitted 17 December 2024
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