Inheritance Tax

The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR). The threshold for 100% relief will be increased from £1...

The 2027 reforms will shift more responsibility to personal representatives, who may need to manage withholding arrangements and settle any IHT before pension benefits are released. From 6 April 2027,...

Agricultural and business property relief changes that were first announced at Autumn Budget 2024 will come into effect from 6 April 2026. These measures will introduce significant reforms to Business...

Certain buildings, land, works of art, and other objects of national significance may be exempt from Inheritance Tax and Capital Gains Tax (CGT) when they are transferred to a new...

Gifting assets can cut inheritance tax, but traps like “gifts with reservation of benefit” may undo the plan. The majority of gifts made during a person’s lifetime are not subject...

From 6 April 2027, new measures first announced in the Autumn Budget 2024 will come into force. These changes will bring most unused pension funds and death benefits into the...

With the Residence Nil Rate Band (RNRB), families can pass on up to £1 million without IHT The RNRB is an additional £175,000 Inheritance Tax (IHT) allowance that applies when...

Before probate begins, you must estimate the estate’s value to see if Inheritance Tax applies. This includes valuing the deceased person’s money, property and belongings in order to determine if...

Despite intense lobbying by the farming community, the proposed reduction in IHT Business and Agricultural Property reliefs are included in the draft Finance Bill 2025-26. On 21 July 2025, the...

It was confirmed with the publication of the draft Finance Bill 2025-26 that measures first announced in the Autumn Budget 2024 to bring most unused pension funds and death benefits...

Married couples can pass on up to £1 million tax-free if they plan their estates carefully. The Inheritance Tax (IHT) nil-rate band is currently £325,000. This means there is normally...

Double tax on estates can still hit families hard, even with treaties in place. When someone dies with ties to more than one country, their estate may face inheritance tax...

Lifetime gifts can reduce Inheritance Tax, but survival for seven years and using key exemptions like the £3,000 annual allowance are crucial to making them fully tax-free. Most gifts made...

Make regular gifts from your income and avoid inheritance tax. If structured properly, surplus income gifts can support loved ones and stay outside your estate without the seven-year survival rule....

From April 2025, Agricultural Property Relief from Inheritance Tax now extends to land under qualifying environmental agreements. This means landowners entering long-term stewardship schemes will not lose IHT relief. From...

Navigating the intricacies of Inheritance Tax (IHT) can be daunting, but understanding the available gift exemptions and strategic planning can significantly reduce potential liabilities. By effectively utilising annual allowances, small...

The Ministry of Justice (MOJ), together with HM Courts & Tribunals Service (HMCTS) and the Minister for Courts and Legal Services, has announced significant improvements in probate waiting times. Probate...

When someone dies, their personal representative (executor or administrator) must value their estate to determine if Inheritance Tax (IHT) is due. This involves assessing assets, debts, and handling tax obligations...

Inheritance Tax (IHT) impacts estates over £325,000, with rates of 40% on death and 20% on certain gifts. A 36% reduced rate applies if 10% of the estate is left...

Inheritance Tax nil-rate bands remain frozen until April 2030. Learn how this affects estates, the residence nil-rate band, and planning opportunities to maximise tax-free inheritance for loved ones. The Inheritance...

Married couples and civil partners may be able to pass on up to £1 million of their estate tax-free with the Residence Nil Rate Band. Claiming this transferable allowance could...

There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a person’s lifetime. In most cases, gifts made during a person’s life are not taxed...

A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares and which form part of the...

It was announced as part of the Budget measures that the government will reform these reliefs from 6 April 2026. The existing 100% rates of relief will be maintained for...

A number of changes to Inheritance Tax (IHT) were announced as part of the Budget measures. We have covered each of the main measures below. It should be noted that...

Most gifts made during a person’s lifetime are not subject to tax at the time of transfer. These gifts, known as “potentially exempt transfers” (PETs), can become fully exempt if...

The Inheritance Tax Residence Nil Rate Band (RNRB) is a transferable allowance available to married couples and civil partners when their main residence is inherited by direct descendants, such as...

There are several types of reliefs from Inheritance Tax (IHT), one of which is IHT Business Relief. This can be a significant tax benefit for those with business interests, potentially...

There are special rules concerning the liability to IHT of a transfer made during one’s lifetime. For example, most gifts made during a person’s life are not subject to tax...

As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should...