Member

New clause 23 would require the Chancellor of the Exchequer to undertake a consultation before 6 April 2027 on the potential impacts of the changes. The consultation would consider the extent to which the changes to inheritance tax and pension interest deliver better outcomes to UK savers and pensioners. The Government launched a technical consultation on the day of the autumn Budget 2024, following the announcement of the policy, to draw on the expertise of the tax, legal and pension industries. That technical consultation was focused on the processes required to implement the changes and the Government have made changes as a result of that consultation.