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

All the points that the noble Baroness raises have been covered in previous conversations. It is clearly not a retrospective tax because it takes effect for deaths on or after 6 April 2027. I have also dealt with the fact that a flat-rate tax would mean that 90% pay more so that 10% can pay less, and that an estate can pass on up to £1 million with no inheritance tax due.