Podcast Ep 480 - Autumn 2024 Budget Special

[@lavayuki]

Great episode as always! I usually listen on your podcast on Spotify, but thought would check out your KZbin channel too. I was wondering about inheritance tax, does that apply to property inherited from abroad? All my family live in Ireland, US and Canada, so any inheritance would be from outside the UK where tax rules are different. Also, anything I leave would go to my relatives abroad... Also for the pension IHT, does that also apply to workplace pensions? I have the NHS pension which has death in service benefit, so would that be taxed with IHT now? Or does that only apply to SIPPs and private pensions?

[@Moneytothemasses]

Thank you for your kind words and for commenting. inheritance tax (IHT), can apply to property inherited from abroad, depending on your residency status and the value of the estate. With regard to your NHS pension and IHT, this article will prove useful inews.co.uk/inews-lifestyle/money/pensions-and-retirement/inheritance-tax-owed-private-nhs-pensions-budget-3357443?srsltid=AfmBOooZWnECxcm9Lh1tMNAIHKAA0yRtXMwsHAfAAgyc9Jqs5UFmtfKo It's advisable to consult a professional for tailored guidance on your situation. Best wishes Damien