UK Pensions: What’s new this week? September 1, 2026

HMRC technical note on inheritance tax changes

HMRC has published a second technical note on the upcoming changes bringing most pension benefits into the scope of inheritance tax (IHT). The note focuses on information sharing between personal representatives (PRs) and pension scheme administrators, as set out in recent regulations. Some key points to note include:

• The note includes draft guidance on the evidence that schemes could use to establish that PRs/prospective PRs are authorised to act on behalf of the estate, before sharing information with them. 
• It helpfully clarifies that response deadlines in the regulations don’t start until a scheme has received reasonable information and documentation to satisfy themselves that a person has authority to act. 
• It includes draft templates for withholding notices (notices that can be given to schemes, asking them to withhold up to 50% of each beneficiary’s benefits for up to 15 months) and payment notices (requiring schemes to pay IHT to HMRC on a taxpayer’s behalf). Pension schemes may develop their own templates or incorporate the requirements into existing customer processes and digital interfaces. However, any notice must contain, as a minimum, the information set out in the draft templates. 
• HMRC’s next steps will be: 
  • Summer/autumn 2026: continue process design and develop guidance and other support tools. 
  • Autumn 2026: technical note 3, which is expected to cover international issues, the interaction of IHT with income tax, further guidance on intestacy, and clarification of matters relating to charities and trusts, among other topics. 
  • Autumn/winter 2026/27: share draft guidance with industry stakeholders and publish additional regulations on split schemes and excepted estates. 
  • Winter/spring 2026/27: communications activity to publicise upcoming changes to impacted groups. 
  • Spring 2027: publish guidance and other supporting materials.

Read HMRC’s technical note.

HMRC: latest Pension Schemes Newsletter

HMRC has published its latest Pension Schemes Newsletter (no. 184). The newsletter includes: 

• Reference to the consultation on transitional rules when the normal minimum pension age increases from 55 to 57 in April 2028. The deadline for responses is September 28, 2026. 
• A note in relation to upcoming changes to allow authorised payments of surplus directly to scheme members: these payments will be treated as taxable pension income, normal PAYE rules will apply and a new real-time information (RTI) data item will be introduced to identify and report these payments from April 2027. 
• A reminder of when HMRC will provide non-statutory clearance. 
• Guidance on how HMRC will treat the disposal of “toxic” assets. 
• An update on payments to address the disparity arising from differences in tax relief between low earners contributing to pensions via net pay arrangements and those contributing via relief at source schemes. 
• A prompt to check processes to ensure pension saving statements are sent before the October 6 deadline.

Read the newsletter.

Pensions Academy Online: Tuesday, September 29 and Thursday, October 1, 2026

Our next Pensions Academy Online sessions will take place on Tuesday, September 29 and Thursday, October 1, 2026. Each webinar begins at 9:30am and will last approximately one hour. We will be covering: 

Legal update—Tuesday, September 29, 2026 

Our regular round-up of all the latest developments in the legal corner of the occupational pensions world, helping you prioritise the tasks on your crowded agenda. 

AI: the good, the bad and the future—Thursday, October 1, 2026 

We are thrilled to welcome Cliodhna Judge, TPR's external market oversight lead for emerging governance topics, including cyber and AI, for a session exploring what artificial intelligence means for UK pension schemes. Cliodhna will join Francesca Parnell, counsel at A&O Shearman, to explore the opportunities, risks and regulatory direction of travel, with practical tips for trustees and scheme managers looking to navigate this fast-moving area with confidence. Expect insights on where AI can help your scheme and members, the risks to watch out for, and what TPR expects from schemes today and into the future. 

Click here to register for either or both sessions.