UK Parliamentary Committee Opens Inheritance Tax Reforms Inquiry

A UK Parliamentary committee Wednesday opened an inquiry into inheritance tax reforms due to take effect next year.

The House of Lords Finance Bill sub-committee will examine the government’s plans to bring unused pension funds and death benefits within the scope of inheritance tax, while reducing inheritance tax relief for business and agricultural property owners.

The measures, first announced by Chancellor Rachel Reeves in the Autumn Budget 2024, form part of the Finance Bill 2025-26, which is set to be discussed in Parliament in the November 2025 budget.

The committee will make “recommendations on how the government’s tax policy can ...