Bonus episode: The big questions people are asking on pensions and inheritance tax - and the answers
This is Money Podcast
This is Money
4.4 • 734 Ratings
🗓️ 25 September 2025
⏱️ 31 minutes
🧾️ Download transcript
Summary
In her last Budget, Rachel Reeves announced she will pull pension pots into the inheritance tax net from April 2027. Meanwhile, there are concerns that pension tax-free lump sums and inheritance tax allowances could fall victim to another raid as the Chancellor tries to balance the books again.
On this special episode of the This is Money Podcast, Simon Lambert is joined by Lisa Caplan, director of Charles Stanley Direct Advice and Guidance, a regular guest in our weekly Investing Explained feature.
Lisa spends her days helping customers understand how to protect their wealth, make their pension last in retirement, and importantly enjoy their hard-earned money.
She discusses with Simon the questions people are asking right now about pensions and inheritance tax - and the answers she gives.
Follow us on Instagram @dmgnewmedia.
Follow us on TikTok @dmgnewmedia
Follow us on X @dmgnewmedia
Email us hello@dmgmedia.co.uk
Text us 020 7938 6000.
Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane
Producer: Georgie Frost
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to a special bonus episode of the This Is Money podcast. I'm Simon Lambert and I'm joined today by Lisa Kaplan of Charles Stanley Direct. Pensioners and inheritance are at the forefront of people's minds ahead of the budget, as they have been over the past year. In the last budget, Rachel Reeves up the stakes on both by announcing |
| 0:21.6 | that she will pull pension pots into the inheritance tax net from April 2027, something that |
| 0:27.3 | has definitely focused people's minds. Meanwhile, inheritance tax limits remain frozen anyway, |
| 0:33.5 | and that freezes already pulling more families into the inheritance tax net. |
| 0:38.3 | Lisa spends her days helping Charles Stanley's customers understand how to protect their wealth, |
| 0:44.3 | how to make their pension last in retirement, and importantly, how to enjoy their hard-earned money, |
| 0:50.3 | because that's definitely something that you do want to be able to do in your pension years. |
| 0:55.6 | She is going to talk us through the questions that people are asking her right now about pensions |
| 1:00.4 | and inheritance tax. Lisa, after that long introduction and regular listeners will need no |
| 1:08.0 | introduction to who you are as you are a regular guest on This Is Money |
| 1:12.2 | podcast. Welcome to the special episode. First of all, I guess the question is, why have pensions |
| 1:20.2 | in inheritance tax been so high up the agenda over the past year? Hi, Simon. At the moment, |
| 1:27.3 | as things stand, relatively few estates pay inheritance tax, despite the fact |
| 1:34.1 | that it's known as the most hated tax. |
| 1:36.8 | Only 4% of estates actually have inheritance tax to pay. |
| 1:43.2 | And the reason for this is that if you add in all the allowances |
| 1:47.1 | and the fact that they are inherited between spouses, you know, if a spouse leaves everything to |
| 1:53.6 | their spouse and they have a home, which they leave to their direct descendants or their children |
| 1:58.6 | or grandchildren, what it means is there's a million |
| 2:01.7 | pounds before there's any inheritance tax to pay and you only pay inheritance tax on your estate |
| 2:08.9 | that's over the a million pound threshold. There's some bits and details. Like if your estate |
| 2:15.2 | is over two million, you start to lose part of that. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from This is Money, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of This is Money and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.