In April 2027, pension assets will be subject to inheritance tax, threatening thousands of small and medium-sized businesses. The rule change requires the pension scheme to pay the inheritance tax bill, putting pressure on business owners. Many founders hold commercial property in their pensions, and this new tax could compel owners to sell or liquidate their businesses. Financial advisors warn that without proper planning, many businesses might fail, jeopardizing jobs and the economic landscape.
The Chancellor's reform to subject unspent pension assets to inheritance tax from April 2027 could lead to liquidation of thousands of small and medium-sized businesses.
With business owners encouraged to hold commercial property in their pensions, the new IHT charge could force sales and threaten business continuity.
Potential liquidations and job losses could occur due to the new IHT charge if business owners do not seek advice or prepare adequately.
The shift in tax requirements threatens not just businesses, but also the livelihood of employees and the overall economy.
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