Seven things you need to know about George Osborne’s abolition of the pensions death tax
The good news on pensions just keeps on coming. Today, at the Conservative Party Conference in Birmingham, George Osborne will today announce the abolition of the draconian 55 per cent pension death tax. There’ll be no inheritance or income tax if funds passed on as pension. There had been expectations of this being cut, perhaps to 40 per cent, but the Chancellor has decided to abolish this altogether. I gather this wasn’t due to be announced until the Autumn Statement on 3 December, but the Chancellor has brought the news forward to gather some positive headlines. A chunk of his speech has been trailed: “People who have worked and saved all their lives will be able to pass on
