{"id":122653,"date":"2025-09-06T07:37:09","date_gmt":"2025-09-06T07:37:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/122653\/"},"modified":"2025-09-06T07:37:09","modified_gmt":"2025-09-06T07:37:09","slug":"uk-households-warn-hmrc-you-wont-get-a-penny-after-six-figure-bills","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/122653\/","title":{"rendered":"UK households warn HMRC ‘you won’t get a penny’ after ‘six-figure bills’"},"content":{"rendered":"

The Chancellor confirmed pension pots will become liable for inheritance tax in April 2027 during last year’s Autumn Budge.t.\"UKUK households warn HMRC ‘you won’t get a penny’ after ‘six-figure bills’<\/p>\n

UK households are being told to take action immediately to avoid “eye-watering” inheritance tax bills from Labour Party Chancellor Rachel Reeves.<\/a> The Chancellor confirmed pension pots<\/a> will become liable for inheritance tax in April 2027 during last year’s Autumn Budget.<\/p>\n

Speaking to Newspage<\/a>, analysts anticipate a substantial surge in the implementation of Deeds of Variation as families seek to mitigate the impact of these new regulations.<\/p>\n

Leicester-based financial director Scott Gallacher said: “In many cases, this approach is creating six-figure IHT savings, as well as providing valuable protection against divorce settlements and long-term care fees for future generations.”<\/p>\n

READ MORE Anyone on standard energy tariff urged to act with 22 million at risk<\/a><\/p>\n

Samuel Mather-Holgate from Swindon-based Mather and Murray Financial described IHT as “compound interest in reverse and pound cost savaging” when applied across multiple generations.<\/p>\n

“Ideally, clients should be talking to their parents about leaving inheritances directly into a Discretionary Trust from the outset, avoiding the need for a Deed of Variation later,” he said.<\/p>\n

“But in reality, these conversations can be challenging some parents have even threatened to disinherit children who raise the idea,” he said.<\/p>\n

“A probate expert will be able to set up a Deed of Variation without risking the RNRB, carving out assets outside the property. However we expect to see a flood of botched deeds as people try to cut corners and do it themselves or turn to unregulated ‘advisers’,” David Robinson said.<\/p>\n

“The increasingly-pressed middle will be left with a tough choice of paying for expensive advice or their beneficiaries paying a potentially eye watering IHT bill,” Mr Robinson said.<\/p>\n

One resident replied: “You won\u2019t get a penny, I\u2019ll spend it abroad, I\u2019m not giving it to a socialist fraud, I\u2019ve worked too hard and will sit in the sun supporting another economy, absolute clowns!”<\/p>\n

“Well we’ll spend it on holidays. Nothing left for Rachel but our family will have some super holidays,” a second said.<\/p>\n","protected":false},"excerpt":{"rendered":"The Chancellor confirmed pension pots will become liable for inheritance tax in April 2027 during last year’s Autumn…\n","protected":false},"author":2,"featured_media":122654,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,186,20919,184,185],"class_list":{"0":"post-122653","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-finance","12":"tag-hmrc","13":"tag-personal-finance","14":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/122653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=122653"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/122653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/122654"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=122653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=122653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=122653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}