A practical update on pensions tax developments, allowances, and withdrawal strategies to help advisers support confident client decision-making in 2026 and beyond.
Stay ahead of the evolving financial landscape with "Pensions Tax Updates for 2026," a comprehensive course presented by Richard Johnston, a Chartered Financial Planner and Director at AAB Wealth. As the UK government introduces significant fiscal changes, understanding the intricacies of pension taxation is essential for financial advisers, legal professionals, and individuals managing high-value estates. This course provides a deep dive into the technical adjustments and strategic planning opportunities arising from recent budget announcements, ensuring you are equipped to make informed decisions regarding retirement planning and wealth transfer.
The session begins by addressing the upcoming changes to salary sacrifice rules, detailing the implications of the £2,000 cap delayed until 2029 and its potential impact on employer National Insurance savings. Richard then navigates the complexities of the Annual Allowance, explaining how the standard £60,000 limit interacts with tapering for high earners and the nuances of the carry-forward mechanism. Participants will also gain clarity on the abolition of the Lifetime Allowance, specifically focusing on the new Lump Sum Allowance and the critical role of Transitional Tax-Free Amount Certificates (TTFAC) for those drawing benefits.
A major focal point of this course is the transformative shift in estate planning, specifically the inclusion of pension pots within the Inheritance Tax (IHT) regime starting April 2027. Richard dissects the administrative challenges this presents for Personal Representatives and Pension Scheme Administrators, alongside the existing income tax rules governing death benefits pre- and post-age 75. By exploring practical case studies and payment options for IHT liabilities, this course offers vital guidance for navigating the friction between pension beneficiaries and estate executors.
Key learning outcomes include:
Chartered Financial Planner and Senior Manager | AAB Wealth
Richard Johnston is a Chartered Financial Planner within the AAB Wealth Team. Based in Edinburgh, he works with a wide range of private clients, helping them build their wealth and plan for the future. The most important aspect of Richard’s work is building long-term relationships with people. Helping them navigate life’s twists and turns. And, along the way, giving them all the advice they need in the realm of pensions, tax, investments and estate planning. In a nutshell, helping them get the most out of life.
