{"id":329712,"date":"2025-08-09T05:04:22","date_gmt":"2025-08-09T05:04:22","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/329712\/"},"modified":"2025-08-09T05:04:22","modified_gmt":"2025-08-09T05:04:22","slug":"petition-launched-to-stop-iht-on-pensions","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/329712\/","title":{"rendered":"Petition launched to stop IHT on pensions"},"content":{"rendered":"<p>Pensions specialist Nathan Bridgeman has launched a petition to stop pensions coming into the scope of <a href=\"https:\/\/www.ftadviser.com\/inheritance-tax\/\" target=\"_blank\" rel=\"noopener\">inheritance tax<\/a>.<\/p>\n<p>Bridgeman, who is the director of SeaBridge Ssas, had his petition accepted by the House of Commons yesterday (August 7) and currently has 137 signatures.<\/p>\n<p>The petition, titled \u2018Stop the double tax of pension funds and death benefits\u2019, outlines that the tax on <a href=\"https:\/\/www.ftadviser.com\/inheritance-tax\/2025\/7\/22\/personal-representatives-to-be-liable-for-iht-payments-on-pensions\/\" target=\"_blank\" rel=\"noopener\">pensions funds<\/a> and death benefits is a disincentive for most people to funding a pension.<\/p>\n<p>It highlighted how when a person dies, the new rules would result in a \u201cdisproportionate and unfair\u201d double taxation \u2014 IHT and income tax \u2014 on beneficiaries.<\/p>\n<p>\u201cWe think this double taxation \u2014 income tax and inheritance tax means a lot of beneficiaries may have to pay 67 per cent tax,\u201d the petition said.<\/p>\n<p>Bridgeman told FT Adviser his firm hears a lot about the family <a href=\"https:\/\/www.ftadviser.com\/inheritance-tax\/2025\/7\/24\/farmers-urged-to-check-wills-as-1mn-iht-relief-allowance-not-transferable\/\" target=\"_blank\" rel=\"noopener\">farm<\/a> tax and winter fuel allowance, but this reform would also affect \u201chard working savers\u201d.<\/p>\n<p>\u201cIt feels morally wrong to move the goalposts especially for elderly people who don\u2019t have time on their side to change their long-term tax and financial planning. Not all pensions are liquid. <\/p>\n<p>\u201cOur Ssas schemes own the family farm, factory, office or shop and it doesn\u2019t just affect the business owner, it affects the company and employment as well as the pension fund that owns the property,\u201d he added.<\/p>\n<p>The petition needs 10,000 signatures for government to respond and 100,000 for it to be debated in parliament.<\/p>\n<p>Bridgeman said his firm will continue to keep this topic on the agenda and hold the government to account.<\/p>\n<p>\u201cThis tax grab is a disincentive to save into a pension and has huge and disastrous consequences given the pension ticking time bomb we face in the UK. <\/p>\n<p>\u201cWe need stability in pensions, not for it to be used as a political football,\u201d he said.<\/p>\n<p>Bridgeman said he had already received 634 emails and messages from IFAs and pension savers thanking him for starting the petition and stating their intention to sign it.<\/p>\n<p>You can sign the petition <a href=\"https:\/\/petition.parliament.uk\/petitions\/734090?fbclid=IwY2xjawMCpG1leHRuA2FlbQIxMQABHk-eVd0x7zlax4rSTiJqbm8ghnoREMrnnDDomMSFbieh7h-5lEPiEyxnxXtD_aem_ciZgA2XKJOz0gPxLVBe1iA\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n<p>alina.khan@ft.com<\/p>\n<p>Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com<\/p>\n","protected":false},"excerpt":{"rendered":"Pensions specialist Nathan Bridgeman has launched a petition to stop pensions coming into the scope of inheritance tax.&hellip;\n","protected":false},"author":2,"featured_media":329713,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,474,8370,7779,617,2499,16,15],"class_list":{"0":"post-329712","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-ft-adviser","11":"tag-house-of-commons","12":"tag-pensions","13":"tag-personal-finance","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114997065576156721","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/329712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=329712"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/329712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/329713"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=329712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=329712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=329712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}