PXN Investments and P1 Platform have announced a PXN business relief integration that will make an asset-backed Inheritance Tax Planning Service available directly within an adviser’s existing platform workflow, with a launch expected in Q4 of this year. The timing is deliberate: from 6 April 2027, most unused pension funds and pension death benefits will be brought into an individual’s estate for inheritance tax purposes, and the two firms are positioning the partnership as a practical response to that structural shift.
What the PXN Business Relief Integration Delivers
The integration will allow advisers to apply for and view PXN’s Business Relief (BR) service alongside clients’ other investments and accounts, all within P1’s platform environment. Crucially, advisers will be able to designate which eligible account is used to pay associated charges, removing the need to sell down a BR holding to meet fees. That operational detail matters in practice: forced disposals inside a two-year qualifying period could jeopardise the relief itself.
The PXN Inheritance Tax Planning Service is described by PXN Investments as an asset-backed Business Relief solution designed to help advisers maintain investors’ legacies. Asset-backed structures, which typically hold qualifying business property rather than listed equities, can offer a different risk profile from AIM-based approaches, though they carry their own liquidity and valuation considerations that advisers will need to weigh for each client.
Jon Prescott, managing director at PXN Investments, framed the partnership in terms of administrative efficiency as much as planning opportunity. ‘Inheritance tax has rarely been more front of mind for UK families,’ he said. ‘Making our Inheritance Tax Planning Service available directly on the P1 Platform means advisers can offer a well-established Business Relief solution without leaving their existing workflow or taking on extra admin.’
The Regulatory Backdrop: Why the Clock Matters
Business relief has itself been reformed. Since 6 April 2026, the 100% rate of relief has been subject to a £2.5 million allowance covering qualifying business and agricultural property. Qualifying value above that allowance generally receives relief at 50%. Qualifying shares traded on certain markets, including AIM, are subject to a separate 50% rate of business relief. In both cases, investments are generally required to have been held for at least two years to satisfy the relevant conditions.
These changes compound the challenge advisers face as the pensions boundary shifts. Nick French, chief commercial officer at P1 Investment Services, put the strategic problem plainly: ‘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 PXN business relief integration is one way platforms are attempting to give advisers consolidated visibility across the instruments now in play.
P1 has described the integration as an extension of its wider strategy of bringing services traditionally provided off-platform into a single environment. The firm previously brought Lombard lending onto the platform in partnership with Firenze in 2024. The approach reflects a broader trend in the platform market: consolidating specialist planning tools so that client reviews are not fragmented across multiple provider portals.
For advisers assessing whether business relief sits appropriately in a client’s plan, the HMRC inheritance tax guidance sets out the qualifying conditions in full. The two-year holding requirement, the reformed allowance thresholds and the distinction between asset-backed and market-traded structures are all variables that demand individual suitability assessment rather than a blanket recommendation. Charges, minimum investment levels and eligibility criteria for the PXN service will be confirmed ahead of the Q4 launch, leaving several material details still to be disclosed before advisers can complete that assessment.
