Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether life insurance policies written in trust will be subject to taxation following the changes made to Inheritance Tax rules at the Autumn Budget 2024.

As announced at Autumn Budget 2024, from 6 April 2027 most unused pension funds and death benefits will be included within the value of a person’s estate for inheritance tax purposes. No changes were announced to the taxation of life assurance policies written into trust.