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Inherited pensions will be subject to IHT from 2027

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Inherited pensions will be subject to IHT from 2027

Inherited pensions will move into the scope of inheritance tax (IHT) from April 2027, chancellor Rachel Reeves has confirmed.

This decision, she added, was a result of the previous Conservative government’s abolition of the lifetime allowance (LTA).

Reeves also used her first Budget to announce IHT thresholds will be frozen until 2030.

She said she would be extending the current freeze by two years from the previous government’s 2028 commitment.

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Reeves said: “That means £325,000 of any estate can be inherited tax free, rising to £500,000 if the estate includes a residence passed to direct descendants and £1m when a tax free allowance is passed to a surviving spouse or civil partner.”

Standard Life retirement savings director Mike Ambery said: “It’s perhaps no surprise that the government has decided to bring pensions into scope for inheritance tax as their exemption was little-known to the public.

“However, pensions have been seen as useful tool for estate planning and there will be individuals and families who have approached retirement and estate planning based on existing rules.

“Now, the value of pension pots will be added to the total value of other assets and if over the IHT threshold of £325,000, aside from other exemptions, will be taxed in the same way.

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“This represents a fundamental shift to how wealthier individuals think about accessing their money in retirement. At present it makes more sense to access ISAs and other forms of saving before touching pensions.

“In time we’re likely to see more pensions, accessed earlier to prevent them from becoming part of people’s IHT bill at a later date.”

He said that the end result of this change is that many more people will now be brought into scope for IHT.

Abrdn head of savings policy Alastair Black added: “It seemed inevitable we would see some changes to IHT, and bringing pensions into the estate seemed a likely choice for government looking to increase revenue. But this will be very disappointing to some as they made financial decisions based on the previous rules, with no chance to reverse any of those decisions.

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“This was a measure that a fifth of advice industry professionals we polled ahead of the Budget said were among the most disruptive things the chancellor could do for client plans. There is a real risk that this stirs up some controversy if it’s seen as double taxation.

“Currently, most pensions are passed on after the age of 75, at which point those inheriting the pension need to pay income tax on the money they receive. Adding IHT on top of this could see the estate and the recipient paying tax twice between them on a proportion of the same pounds.

“It certainly adds new complexity to estate planning, and will increase demand for advisers’ help in developing more sophisticated strategies.”

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Boots shoppers rush to pick up £60 worth of Yankee Candles for under £30

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Boots shoppers rush to pick up £60 worth of Yankee Candles for under £30

SHOPPERS are rushing to Boots as it announced it’s flogging a popular candle for almost half of its original price.

The cosmetics giant surprised buyers when it launched its massive sale a whole month before the official “Black Friday” one.

Boots has slashed prices on a number of beauty and wellness products as part of its Black Friday sale

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Boots has slashed prices on a number of beauty and wellness products as part of its Black Friday saleCredit: Alamy

This includes selling a Yankee Candle Collection Gift set for £29.50 -almost half its original value of £60.

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For the brand’s fans, this is a serious reduction as candles are normally well over £50.

The festive gift box serves as an affordable option for anyone looking to secure some early Christmas presents.

It includes a range of scented candles, each with their own unique smell.

The aromas vary from black cherry and bayside cedar to sparkling cinnamon, and white spruce and grapefruit.

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Beauty girls race to Boots for FREE Prada pouch and mirror, and you’ll end up smelling amazing too

These are packaged in a quaint box – saving you time on wrapping.

The Star Gift deal has already been a hit with consumers, according to the chain’s website.

One five-star reviewer wrote: “Beautiful Yankee candle gift set which I bought for a present. In a very nice presentation box.”

Another commented: “fantastic value for money!”

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This comes as Boots slashed prices on a number of beauty and wellness products as part of its Black Friday sale.

You can get your hands on top designer fragrances – from YSL to Prada – for 25 per cent off the original price.

And for those not sure what to go for, the gift sets offer a cheap alternative with multiple different scents.

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Cost of breakfast staple set to soar in price due to Budget’s hated tax on farms

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Cost of breakfast staple set to soar in price due to Budget's hated tax on farms

THE COST of British sausages could soar because of the hated farmers tax, experts warned last night.

Farmers are mutinying and considering mass protests after being clobbered by an inheritance tax raid on farms worth over £1 million.

The cost of British sausages could soar because of the hated farmers tax, experts warn

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The cost of British sausages could soar because of the hated farmers tax, experts warnCredit: Getty

They say the Budget has sounded the death knell for the family farm.

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Now there are dire warnings fans of the great British banger will have to pay the price.

Mo Metcalf-Fisher, from The Countryside Alliance, said: “Losing farms would be a catastrophe, we can’t risk undermining our own food security.

“Costs for everyday British favourites like bangers could well be impacted as a result and we’d be relying more and more on foreign imports.”

Tory MP Charlie Dewhirst – whose family run a pig farm – said: “If farms are sold and it reduces food production then that could mean higher prices.”

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Chancellor Rachel Reeves was also accused of “signing a death warrant” for thousands of multi-generational businesses as inheritance tax is imposed on other family-run firms for the first time since 1970.

Sun columnist and Diddly Squat Farm owner Jeremy Clarkson said farmers have been “shafted” — and TV property expert Kirstie Allsopp accused Ms Reeves of having “f***ed all farmers”.

Tory MPs warned the Budget could “spell the end of family farms”.

They accused Environment and Farming Secretary Steve Reed of betraying the sector, having promised last year “we have no intention of changing” inheritance tax on farms.

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The National Farmers Union said the move would “snatch away the next generation’s ability to produce food”.

BUDGET REACTION: Rachel Reeves bails out SNP – but is it a trap?

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Savvy shopper reveals how to bag popular hair care product worth £16 for free

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Savvy shopper reveals how to bag popular hair care product worth £16 for free

A SAVVY shopper has revealed how to nab a popular hair care product for free.

For anyone looking for their next hair care product, this eagle-eyed customer has got you covered.

The product usually retails at £28 and promises to reduce hair breakages, protect strands, and restore its healthy appearance

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The product usually retails at £28 and promises to reduce hair breakages, protect strands, and restore its healthy appearanceCredit: Facebook

The shopper has shown users how to bag the Number 3 hair Perfector ornament from the popular brand Olaplex completely free of charge.

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The product usually retails at £28 and promises to reduce hair breakages, protect strands, and restore its healthy appearance.

If you want to get hold of this deal, just make any other purchase and you will be gifted a 20ml bottle of the hair ointment.

The hair care is made with Bis-Aminopropyl Diglycol Dimaleate, an ingredient which the brand says is a miracle worker.

It “allowed professionals to reach new heights in colour and care,” according to Olaplex’s website.

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I tried a cheap £8 shampoo to banish my silver hair

This single molecule is included in all of Olaplex’s products, which is the reason why hair looks healthier after use, it says.

“Hair wasn’t just healthier; it took on a completely different quality —

“Blondes were brighter, brunettes more radiant, and redheads more vibrant,” according to the brand’s website.

Olaplex started in 2014 in a California garage.

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From Cushing’s Disease to a quiet guinea pig – your pet queries answered

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From Cushing’s Disease to a quiet guinea pig - your pet queries answered

HE is on a mission to help our pets  . . . and is here to answer YOUR questions.

Sean, who is the head vet at tailored pet food firm tails.com, has helped with owners’ queries for ten years.

Sean McCormack, head vet at tails.com, promises he can 'help keep pets happy and healthy'

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Sean McCormack, head vet at tails.com, promises he can ‘help keep pets happy and healthy’

He says: “If your pet is acting funny or is under the weather, or you want to know about nutrition or exercise, just ask. I can help keep pets happy and healthy.”

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Q) I THINK my little lady Jack Russell, Pudding, has Cushing’s Disease. She is six and cute.

For the last two months she has been drinking a standard bowl of water overnight, which needs mopping up in the morning.

She has a big appetite, too, and appears to gulp all her food which I now place in a lick dish to slow down her eating.

She appears pot-bellied and her stomach area is very hard to touch. Although she is not distressed, in fact quite happy, these symptoms do give me cause for concern.

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Ian Holliday, Redditch, Worcs

A) Pudding does sound like she has something hormonal going on.

Cushing’s disease is an overproduction of cortisol and can lead to increased thirst and urination, a pot bellied appearance, skin thinning and other changes.

But there are other disorders that could also be responsible. The first step is a blood test at your vet clinic.

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Left untreated, potential issues will lead to bigger problems. So best to diagnose as early as possible.

Pudding the Jack Russell's owner thinks she may have Cushing’s Disease

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Pudding the Jack Russell’s owner thinks she may have Cushing’s Disease
I’m a property expert, here are the five key things when moving with a pet

Q) MY daughter Emma’s Guinea pig, Martha, is really squeaky but her friend, Katie, is quiet.

Can they have different personalities like people?

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Keith Campbell, Glasgow

A) Yes, absolutely. I am always surprised with this question when it comes to animals having emotions or personalities.

Just like we say at tails.com that dogs are “never average” it applies to all kinds of animal species.

Each is an individual. Sounds like Martha and Katie are well-matched, the chatterbox and the quiet one.

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Q) I’VE just got two rescue cats, one about three years old and one about six months old. Is it good to mix biscuits into their food?

I’m keen that they don’t get tooth decay like the last two cats I had.

They are still at the rescue stage of eating everything with enthusiasm, so if I’m going to add biscuits it has to be now. They get spoiled!

Cathy Davidson, East London

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A) I always advocate for a mixture of food types for cats, otherwise they can become fussy eaters.

Wet food provides important moisture in their diet, as most cats are not great drinkers and dehydration can exacerbate kidney issues in later life.

But dry kibble can be more abrasive on teeth and gums. While dry food doesn’t clean teeth as some marketing claims suggest, it can reduce the rate of plaque build-up. So a balanced feeding approach is beneficial.

Q) MY Staffie, Bronson, has bouts of eczema inside his legs and under his body. He is constantly scratching at the itches.

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I have taken him to the vets but the symptoms always return. Any idea of medication?

Jodie Young, Fife

A) I cannot prescribe or suggest actual medications for patients that are not in my care, simply because I can’t tell what is wrong with them from a description alone.

Poor Bronson. Skin issues are one of the most common problems presented to the vet clinic, and come in many forms. They can be challenging to diagnose and to treat.

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Staffies are right up there in breeds prone to skin problems, with allergic dermatitis high on the likelihood list.

My advice is to discuss your frustrations with the vet, and ask them to give you a flowchart of what can be done short-term to alleviate itchiness.

But also ask whether there’s a longer term affordable strategy to try and prevent this happening again.

Star of the week

Archie the Great Dane swallowed a BBQ skewer

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Archie the Great Dane swallowed a BBQ skewerCredit: supplied

BRAVE Archie the Great Dane survived great pain when he swallowed a six-inch bbq skewer.

Owner Neil McKinlay, 55, realised something was wrong when his newly adopted three-month-old went quiet.

Neil, from Glasgow, turned investigator when he found a lump in Archie’s side, but was told by the vet that it could be a rib.

But a CT scan showed his stomach had been pierced.

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Neil says: “After surgery, Archie came home in April.”

Luckily he avoided a big bill since he’d come from the breeder with five weeks’ free insurance from Agria (agriapet.co.uk).

“He’s transformed now” Neil added.

WIN: Smart pet feeder

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THE Sun on Sunday has teamed up with PetSafe® to give two readers the chance to win a Smart Feed Automatic Pet Feeder – worth over £200.

This nifty piece of tech can schedule, monitor, and adjust your pet’s feeding schedule remotely with an app – with alerts to when they’ve been fed, when food levels are low, or if the feeder is empty.

To win, send an email headed FEEDER to sundaypets@the-sun. co.uk by Nov 17. See uk.petsafe. net T&Cs apply.

Keep pets from going sparking mad

Take dogs for a long walk and get them home before the banging begins on Bonfire Night

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Take dogs for a long walk and get them home before the banging begins on Bonfire NightCredit: Getty

NEED to take the fear out of Bonfire Night for your furry friend? Experts at the RSPCA have figured out a formula to ensure fireworks don’t frighten pets this year.

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“Research shows nearly half of UK dogs show signs of fear when they hear fireworks, but there are lots of things you can do to help your pets cope,” an RSPCA spokesman says.

“Cats should be kept indoors with somewhere to hide. Don’t try to tempt them out, it may add more stress, and always ignore the fireworks yourself.”

Take dogs for a long walk during daylight and get them home before the banging begins. And play with cats or other animals to expend energy.

Secondly, create a cosy safe space with curtains closed and comforting white noise to drown out the racket. A bed or crate with a cover is a haven for nervous dogs, with you nearby for comfort.

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Remember to wear clothes that really smell of you to make your pet as relaxed as possible.

Use calming sprays, chews, toys and tasty treats to help take the stress out of firework time.

Be prepared! Find out when the noisiest displays happen to reduce the surprise, see rspca.org.uk.

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Brits urged to check their old DVD collections for titles that could be worth hundreds

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Brits urged to check their old DVD collections for titles that could be worth hundreds

BRITS have been urged to check for old DVD collections that could potentially sell for hundreds of pounds.

It is worth having a dig out in your attic as old DVDs from your childhood could be worth more than just a few quid.

The Godfather trilogy ser could easily get you £300

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The Godfather trilogy ser could easily get you £300
A Blade Runner Ultimate Collector's Editon Briefcase could easily fetch £300

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A Blade Runner Ultimate Collector’s Editon Briefcase could easily fetch £300
A list of some of the DVDs with high reseale value

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A list of some of the DVDs with high reseale valueCredit: Bally Casino

Like any collectables, the value of DVDs can vary hugely from as little as £100 to even millions of pounds.

So if you’re having a clear-out or spy a disc in your local charity shop, you could be in the money.

DVDs that command high prices are often limited editions, special releases, or out-of-print films, according to the experts.

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Bally Casino prepared a list of DVDs that are in high demand in the collectors market – and could sell for hundreds of pounds.

At the top of their list is the Carry On Film Collection with complete 31 films which can get you some £350.

While a Blade Runner Ultimate Collector’s Editon Briefcase could easily fetch £300, according to their research.

Ryan Toomey, a film fanatic, writer, and Editor at Upbeat Geek, told The Sun: “Collectors and cinephiles prize DVDs for their nostalgic value, the desire to own a piece of cinema history, and the joy of collecting.

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“Rare DVDs become popular auction items because they offer collectors the chance to own something unique and often irreplaceable.”

It can be tricky to know what’s valuable and what’s not in the world of DVDs.

Ryan said the most valuable DVDs can include director’s cuts, films with unique packaging, or DVDs signed by cast members.

“The rarity and the demand among collectors drive up their value,” he added.

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Ryan’s broke down exactly what adds to the value of a DVD:

  • Scarcity: The fewer copies available, the more valuable the DVD.
  • Condition: Mint or near-mint condition DVDs are more desirable.
  • Provenance: DVDs with a history or connection to someone significant in the film industry are highly prized.
  • Special Features: Unique packaging, autographs, or DVDs that include unreleased content can significantly increase value.

The expert also pointed out that collections and box sets are also worth big bucks.

But, even if you don’t have one of the most rare items you could always find cash in a variety of retro DVDs.

A huge number of individual DVDs and box sets are also sold on eBay too, and prices do vary.

How to make money from your old DVDs

Old DVDs can be sold on eBay, via Amazon, or on any number of specialist websites.

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To find out how much an old game might be worth do some research first.

Checking the same or similar games under “sold listings” on eBay.

On eBay in particular bear in mind that some buyers pull out after an auction has ended, so the game may not have actually sold for the price it says it did.

Compare your video game to other higher-selling auctions and ask yourself if it’s in a similar condition. Is it authentic? Does it have its original packaging?

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If it’s in mint condition then it might be worth selling it through an auction house or directly to a collectables website.

If it’s not in mint condition, it’s probably worth sticking it on eBay for a moderate sum.

But in both cases check for any fees involved and find out what percentage of any sale an auctioneer may take.

It’s important to remember that your game is only worth as much as someone is willing to pay.

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If you know you have something valuable, you can also maximise your profit through a specialist auction.

Meanwhile, here are the most valuable toys worth up to £20k including Thundercats and Scalextric.

Plus, all the highest value and rare posters worth up to £3,500 including Elvis Presley and The Jam

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Shoppers rushing to popular high street accessories chain as it launches huge 40% off everything sale

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Shoppers rushing to popular high street accessories chain as it launches huge 40% off everything sale

SHOPPERS are rushing to high-street accessory store to nab items from its mega sale.

People are flocking to the accessories chain to get hold of all the amazing discounts available.

Shoppers are rushing to high-street accessory store to nab items from its mega sale

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Shoppers are rushing to high-street accessory store to nab items from its mega saleCredit: Alamy

Items have been slashed by a whopping 40 per cent – with some products costing as little as £4.50.

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There are offers on everything from nail varnish and pastel hair clips and ties, to makeup brushes and colourful bracelets.

The polish is vegan, dried in 90 seconds and is available in a range of colours like purple, pink and blue.

Savvy shoppers can get their hands on hairspray for just £3.60 or velvet hair scrunchies for as little as £2.70.

There are even some lip balms, face masks and beaded necklaces on sale for as low as 90 pence.

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For anyone with children, the retailer is offering a range of dressing up items like a unicorn set for under £11.

‘I don’t think I can face this again!’ fashion fans groan as beloved 90s accessory makes a comeback in Primark

Claire’s is also selling a Y2K body spray for under a fiver, which is strawberry-scented and comes in a “bedazzled” container.

It is “decorated with everyone’s favourite mythical creature” and promises to keep you “smellin’ sweet all day long.”

Keen shoppers can get the deals online or by visiting in-store.

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The website reassures buyers that no account is required – all you need to do is checkout as a guest.

Once you have made your purchase you will receive and order confirmation and if you need to make a complaint you can contact the team on their page.

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