# Ihtlock report

Death date: **2027-04-06** (pension in estate)
Assets (ex-pension): £1,000,000.00 · Unused pension: £500,000.00 · Debts: £0.00

## Headline figures

Total IHT, pension out (current rules): **£200,000.00**
Total IHT, pension in (from 6 Apr 2027): **£400,000.00**
Extra IHT from pension inclusion (delta): **£200,000.00**
RNRB lost to taper: **£0.00**

## Before vs after 6 Apr 2027

| Scenario | Net estate | RNRB available | Taxable death estate | PET tax | **Total IHT** |
|---|---:|---:|---:|---:|---:|
| Pension out (current) | £1,000,000.00 | £175,000.00 | £500,000.00 | £0.00 | **£200,000.00** |
| Pension in (from 6 Apr 2027) | £1,500,000.00 | £175,000.00 | £1,000,000.00 | £0.00 | **£400,000.00** |
| **Delta** | £500,000.00 | −£0.00 | | | **£200,000.00** |

## Spousal transfer optimiser

Missing 100% NRB (£325,000.00) + 100% RNRB (£175,000.00): **£200,000.00** IHT left on the table vs a full claim from the first death.

## Next steps

1. File this plan against death date 2027-04-06 (on/after 6 Apr 2027): treat the £500,000 unused pension as inside the estate when briefing personal representatives.
2. Budget for the £200,000.00 IHT increase (£200,000.00 → £400,000.00) when estate-planning for 6 Apr 2027 onwards.
3. List every registered pension arrangement for the personal representatives now — from 6 Apr 2027 they must value the £500,000 notional pension property and report it with the estate.
4. Claim the missing 100% transferable NRB (£325,000.00) and 100% transferable RNRB (£175,000.00) from the first death before 2027-04-06 — worth £200,000.00 less IHT on this plan.
5. Share this plan dated 2027-04-06 with your adviser or executor now, and diary a re-check after the next Autumn Budget or any HMRC guidance update — do not change nominations, withdrawals or gifts on this illustration alone.

## Assumptions and disclaimer

- NRB £325,000.00 · RNRB £175,000.00 · RNRB taper £1-for-£2 above £2,000,000.00 (frozen through 2027/28).
- Death-estate rate 40%, or 36% if the charitable legacy is at least 10% of the baseline; PET taper bands 40/32/24/16/8% within 7 years.
- CLTs: 20% lifetime tax on the excess over available NRB (after 7-year cumulation); on death within 7 years the death taper rate applies with credit for tax paid (no refund). Annual exemption £3,000 + up to £3,000 brought forward; marriage caps £5,000/£2,500/£1,000.
- Educational illustration only — not tax, legal or financial advice. Real estates involve Business/Agricultural Relief, deed variations, trusts, domicile, and scheme-specific death benefits. Death-in-service benefits from registered schemes remain outside IHT. Confirm figures with a regulated adviser or solicitor before acting.
- Rules: IHT-2026-10-NRB-RNRB-PENSION-2027.