Advisers will be able to apply for and view PXN’s Inheritance Tax Planning Service within the P1 Platform, while also being able to choose which account is used to pay associated charges

P1 Platform has partnered with PXN Investments to make PXN’s Inheritance Tax Planning Service available through a direct technology integration with the platform.

The service is expected to go live in Q4 2026, ahead of significant changes to the inheritance tax (IHT) treatment of pensions from April 2027.

Once live, advisers will be able to apply for PXN’s Inheritance Tax Planning Service through P1 Platform on behalf of their clients and view the holding alongside their other investments and accounts.

The integration will also allow advisers to select which eligible account is used to pay associated charges, avoiding the need to sell down the Business Relief investment simply to meet fees.

From 6 April 2027, most unused pension funds and pension death benefits will be included within the value of an individual’s estate for IHT purposes following changes introduced by the Finance Act 2026.

For many wealthier clients, the long-standing approach has been to draw on other assets first while preserving pension wealth for beneficiaries. Bringing most unused pension wealth within the estate changes that calculation and is prompting advisers to reconsider how clients draw on, gift and pass on their wealth.

Business Relief (BR) has also undergone significant reform. Since 6 April 2026, the 100% rate of relief has been subject to a £2.5 million allowance covering the combined value of qualifying business and agricultural property, with qualifying value above the available allowance generally receiving relief at 50%. Unused allowance can also be transferred between spouses and civil partners.

Qualifying shares traded on certain markets, including AIM, are now subject to a separate 50% rate of Business Relief.

Subject to the relevant qualifying conditions, BR can allow clients to retain ownership and access to qualifying investments while reducing their value for IHT purposes. Qualifying investments will generally need to have been owned for at least two years before relief is available.

BR services have traditionally sat off-platform, requiring separate applications, valuations and reporting. This can make it harder for advisers to obtain a consolidated view of a client’s wealth at a time when IHT and estate planning are becoming an increasingly important part of the advice relationship.

The integration is the latest step in P1’s strategy of using its API-led architecture to bring products and services that have traditionally sat off-platform into a single platform environment.

In 2024, P1 brought Lombard lending onto the platform in partnership with Firenze, enabling eligible clients to borrow against their investment portfolios without having to sell investments.

PXN’s Inheritance Tax Planning Service is expected to be available to advisers using P1 Platform in Q4 2026. Further details, including charges, minimum investment and eligibility criteria, will be confirmed ahead of launch.

Nick French, Chief Commercial Officer, P1 Investment Services, said:

“How advisers and clients think about inheritance tax is changing. Once most unused pension wealth comes into the estate from April 2027, the traditional approach of spending other assets first and leaving the pension untouched will no longer work in the same way for many clients.

“The problem is that Business Relief has traditionally lived off-platform, with separate applications, valuations and administration. Bringing PXN’s service onto P1 means advisers and clients will be able to see more of the client’s financial position in one place. Giving advisers flexibility over where associated charges are taken from also means a long-term BR holding does not need to be sold down simply to pay a fee.

“That is what we believe a modern platform should be doing. We have already done it with Lombard lending, we’re now doing it with Business Relief, and we will continue bringing more of the client’s financial life onto the platform. The aim is simple: less administration for advisers and more time spent actually advising their clients.”

Jon Prescott, Managing Director, PXN Investments said:

"It's great to be partnering with a forward-thinking business and platform like P1 — one that recognises the need to keep adding solutions to its platform to help advisers navigate what is becoming an increasingly com-plex landscape. They've done this in a way that adds real choice for advisers while removing friction from the process. My expectation is that we'll see a lot more development like this across platforms, as they work to accommodate the growing demand from advisers and their clients."

He added: "Inheritance tax has rarely been more front of mind for UK families. With the nil-rate band frozen at £325,000 until 2031, and this year's reforms to Business Relief, more estates are being pulled into scope and more clients are asking their advisers what can be done about it. Making our Inheritance Tax Planning Ser-vice available directly on the P1 Platform means advisers can offer a well-established Business Relief solu-tion without leaving their existing workflow or taking on extra admin. It's about giving them a straightforward way to meet that demand — so they can spend their time advising, not processing paperwork."