The government has published its formal response to the House of Lords Economic Affairs Committee report on measures shortly to be introduced that would bring unused pension funds and agricultural and business property into the inheritance tax net.
It has rejected or only partially accepts most of the committee’s suggestions. Of note is the recommendation that the six-month deadline for the first payment of inheritance tax, for estates that include qualifying agricultural and business property, should be extended to 12 months.
The government also rejected the suggestion that tax policy changes should always be preceded by a formal public consultation at an early stage, unless there are specific reasons against doing so.
Stephen Parnham
April 2026
https://committees.parliament.uk/publications/52446/documents/291079/default
