Tax Aware

Business and agricultural property relief: an update on the 2026 reforms

Since our previous article on the business property relief and agricultural property relief reforms, the Government has announced further - and more positive - changes.

Looming changes to inheritance tax on pensions: what you need to know

From April 2027, most unused pension funds and pension death benefits will be included in a person's estate for inheritance tax, even if scheme administrators or trustees have discretion over payments. This is a major change, where currently pension assets remain protected from IHT and involve minimal administration.

EMI reforms open the door to scale-ups: time to reassess your equity strategy?

The 2025 Autumn Budget's enterprise management incentive reforms represent the scheme's most significant expansion in years. These changes fundamentally reshape EMI's target market, transforming it from a scheme exclusively for start-ups into one accessible to substantial scale-ups.

Tax efficient trust planning with surplus income

Trusts are well established as a cornerstone of succession planning. However, for UK based individuals that are long-term resident, there are limited options for adding assets to trusts without triggering prohibitive tax charges. However, there is a lesser known exemption for gifts made out of surplus income, which represents a valuable opportunity to fund a trust over multiple years without the usual IHT entry charge.

The advantages of family investment companies - but beware of getting stung

Family investment companies are popular succession planning vehicles, enabling clients to pass wealth to the next generation whilst ensuring they retain control. They are increasingly being considered as alternatives to trusts, however, using them could saddle you with higher overall tax rates compared to personal holdings, and multi-generational tax planning complications.

Effect of changes to inheritance tax relief on testamentary charitable gifts

The 2025 Autumn Budget introduced important changes to inheritance tax relief for charitable gifts that will affect how individuals structure their testamentary charitable giving.