Many grandparents considering their succession planning options will wish to give financial support to their grandchildren. In this article we discuss some of your options for lifetime gifting, along with their headline tax implications with a particular focus on inheritance tax (IHT). If your grandchildren are under the age of 18, the tax implications of […]
The changes to Business Property Relief (BPR) will come into effect on 6 April 2026. It’s possible to mitigate the impact of these changes and the subsequent tax liabilities, but it’s vital to start planning now. Business Property Relief changes BPR reduces the value of business property when calculating how much inheritance tax (IHT) is […]
Parents, and grandparents, who are financially able, may want to help their children or grandchildren in stepping onto, or up, the property ladder. This could involve giving money to buy a property or gifting a property, either for the child/grandchild to live in or to rent out as an additional income source. In this article […]
In February 2025 the government launched a consultation on how the changes to inheritance tax (IHT) Agricultural Property Relief (APR) and Business Property Relief (BPR), due to apply from 6 April 2026, will affect trusts. Trusts and inheritance tax As set out in our previous article, the consultation focuses primarily on property settled into relevant […]
Employee Ownership Trusts (EOTs) offer business owners a compelling exit strategy where they can transfer controlling interest in their company without paying any capital gains tax (CGT). Join Leonora Stevens and Mike Hodges as they discuss this increasingly popular exit route, that is beneficial for both owners and employees. If you’re considering an EOT, always […]
The inheritance tax landscape for family businesses and agricultural landowners is undergoing its most significant transformation in decades. Following the Autumn Budget 2024 announcements regarding changes to Agricultural Property Relief (APR) and Business Property Relief (BPR), the government has released a consultation document addressing the application of these changes to property settled into trusts. In […]
Talking about death, let alone planning for it, rarely feels like a pleasant task. However, getting your affairs and key financial arrangements in order may give you peace of mind and make things easier for the friends and family members you leave behind. Inheritance planning tips Make sure there’s a valid, up-to-date will in place. […]
At the Autumn Budget 2024, the Chancellor announced significant changes to inheritance tax (IHT) Agricultural Property Relief (APR) and Business Property Relief (BPR). The government has now opened a consultation on the proposed changes, although only at this stage on how they will apply to trusts. While we prepare our response to the consultation, here’s […]
Have you recently acquired a significant amount of money? Sudden wealth can be quite overwhelming. So how can you protect and manage your assets efficiently? Join Leonora Stevens and Mike Hodges as they talk with legal expert Claire Harris, a Partner at Withers, and James Peterson, Managing Director at Rothschild & Co about the essential […]
Family-owned businesses face unique complexities, such as issues related to business structure, family dynamics, and shared ownership. Following the 2024 Autumn Budget, these businesses now face additional challenges in navigating the changes to inheritance tax (IHT) and Business Property Relief (BPR). In this episode, Leonora and Mike analyse the specific implications of the Budget changes […]
