Fraudsters exploit confusion or anxiety over new IHT rules by offering a ‘safe haven’ for savings pots
The caller pitches a great deal. Shift the moneysaved in your pension and reinvest it in a scheme overseas where you can avoid it being caught under next year’s changes to the UK’s inheritance tax (IHT) system.
From April next year, any money left in a defined contribution pension after your death, which is most workplace and all private pensions, will be pulled into the IHT net.
Inflationary pressures are squeezing margins across pretty much every sector. (080c99)
So from April 2027, my pension pot could be hit with 40% tax when I pass it to my kids? That’s terrifying—no wonder scammers are cashing in on the confusion.
I got a call last week exactly like this, some ‘advisor’ pushing an overseas scheme. Reported it to Action Fraud, but it’s scary how convincing they sound.
The article says only defined contribution pensions are affected. What about final salary schemes? My old NHS pension should be safe, right?
These criminals are preying on people’s fear of the new IHT rules. The government should be running awareness campaigns, not just leaving it to journalists.
My dad almost fell for one of these ‘safe haven’ scams. He’s 72 and worried about leaving us a tax bill. Thank God he checked with a regulated adviser first.
I wonder how many of these ‘overseas schemes’ are just shell companies that’ll disappear with your money. The FCA needs to crack down harder.
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