Inheritance tax on pensions
Inheritance tax on pensions
The Issue
If you die below 75 yrs of age the people that inherit your pension pay no tax ever. If you die over 75 the people who inherit your pension pay tax at their own rate on whatever they draw down.
Why is there a difference you earned, saved, payed tax on and put into the pension pot exactly the same. What has the age of 75 yr got to do with taxing your inheritors? This is a ridiculous law and is unfair and has no logical it need to be changed so no-one pays tax on a pension they inherit. You earned payed in and cannot control the age you die. HMRC needs to abandon this tax. Please send this petition to your MP to force change to this unfair tax.
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The Issue
If you die below 75 yrs of age the people that inherit your pension pay no tax ever. If you die over 75 the people who inherit your pension pay tax at their own rate on whatever they draw down.
Why is there a difference you earned, saved, payed tax on and put into the pension pot exactly the same. What has the age of 75 yr got to do with taxing your inheritors? This is a ridiculous law and is unfair and has no logical it need to be changed so no-one pays tax on a pension they inherit. You earned payed in and cannot control the age you die. HMRC needs to abandon this tax. Please send this petition to your MP to force change to this unfair tax.
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Petition created on 28 May 2024