Inheritance Tax: Pensions - Question

Part of the debate – in the House of Lords at 2:58 pm on 17 November 2025.

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Photo of Lord Livermore Lord Livermore The Financial Secretary to the Treasury 2:58, 17 November 2025

As I say, given that all the normal nil-rate bands will continue to apply, an estate can pass on up to £1 million with no inheritance tax. If you are leaving £1 million, you probably have the cash to pay the tax.