Post Budget Private Client Tax and Trust Update

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What is happening on the changes for IHT on farms, businesses and pensions? This talk will look at what these changes mean for advising clients

• The cap on business and agricultural 100% relief, from April 2026
  • Some further thoughts on opportunities for lifetime succession planning and tying this in with commercial and family lawyers.
• The planned inclusion of pensions in the IHT net from 2027
  • Some tax planning to prepare for the huge changes
• Life assurance written in trust to mitigate the extra IHT liabilities
  • Some tricks on maximising the value of life assurance in planning
• Income and Capital gains are squeezed for another 3 years to April 2028
  • This may be extended to 2030, so how can we help clients?
• Trust Register (TRS)
  • A response is due this summer to the 2024 Consultation on MLR and the possible new exclusions from TRS for express trusts. We anticipate some more news before October and will update on what’s happening and how it can help in practice

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer