Spring Statement 2025: Key Questions Remain Over Inheritance Tax and Pensions

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Hilesh Chavda
26 March 2025
As Chancellor Rachel Reeves prepares to deliver her Spring Statement, the financial and legal sectors are closely watching for updates on inheritance tax (IHT) and how pension assets will be treated under the new rules. With concerns growing over administrative delays and tax liabilities, industry experts are calling for greater clarity on how these changes will be implemented. The inclusion of pensions in Inheritance Tax calculations has raised significant questions, particularly around valuation processes and the potential impact on estate administration.

Private Wealth Partner Hilesh Chavda has been featured in multiple publications, including the Daily Express, Plymouth Live and Gazette Live highlighting the complexities surrounding pension taxation. He warns that the combination of inheritance tax and income tax charges could create significant challenges, particularly if executors are required to wait for pension providers to supply valuations. These delays could slow down the estate administration process, potentially affecting tax payments and beneficiary distributions. Hilesh stresses the need for further details from the government to avoid unnecessary complications for families navigating these financial matters.

Read the full articles here:

Rachel Reeves urged to make ‘£10,000’ inheritance tax change in Spring Statement | Daily Express

Rachel Reeves urged to clarify inheritance tax changes in Spring Statement or risk ‘big delays’ | Plymouth Herald

 

Hilesh Chavda
Partner - Private Client
Hilesh Chavda is a Partner Solicitor at Spencer West. He specialises in private wealth, tax, trusts and other protection vehicles, wills, probate, succession planning and advising on UK assets when coming to or leaving the UK.
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