Pension savings have long enjoyed favourable treatment when it comes to Inheritance Tax (IHT) in the UK, however, this privileged status could be under threat in the upcoming Budget. Unlike other assets such as ISAs, money held in defined contribution pension pots is generally excluded from estate valuations for IHT purposes. With the Government facing limited options to raise revenue, the nearly £50billion annual cost of pension tax relief has not gone unnoticed by the Treasury. Experts at pensions consultancy Lane Clark & Peacock (LCP) have put out a report trying to work out where the Chanc…
