‘My estate faces a £214,000 tax bill unless I get married’ - the perils of the inheritance tax pension reforms

The chancellor's recent proposal to impose inheritance tax on unused pension wealth has raised concerns, particularly for cohabiting couples who may face hefty tax bills. This change could significantly impact financial planning for many, as it introduces a new layer of complexity and potential costs for those who choose not to marry. Understanding these implications is crucial for individuals and families navigating their financial futures.