Adviser Inform Newsletter - March 2026

In our latest edition of the Adviser Inform Newsletter we provide an update on proposals to bring unused pension funds within scope of IHT from April 2027, based on the latest developments following the recent House of Lords Committee Report.

You will find Dentons commentary on the current legislative position and what advisers should expect over the coming months.

Download your copy of the Adviser Inform Newsletter – March 2026

Commentary

At the time of writing, the Finance Bill 2025-26 is at the 2nd stage in the House of Lords. Having originated in the Commons, it is currently: 

• part way through the Parliamentary process
• working its way through the various stages in the House of Lords on its way to Royal Assent.

We take a great deal of comfort from the detailed examination of the issues undertaken by the Lords’ Committee. It is to be hoped that the Government will make the significant changes suggested by the Committee, not least of which is the delayed implementation date if that is what is necessary, along with addressing proposals regarding valuations of assets which regularly feature in bespoke SIPPs and SSAS.

We do, of course, know that the proposals to allow for IHT to be paid from outside the pension scheme (or by the beneficiary directly) will be welcomed by those SIPP and SSAS members who hold perfectly acceptable illiquid assets such as commercial property and do not wish for a forced disposal of them upon death. We will provide a further update when more information is known. The Committee has indicated to the Government that HMRC should provide further clarity by April 2026, and it is to be hoped that this will indeed happen.