Pensions to lose IHT exemption
At the Autumn Budget the Chancellor announced plans to remove the exemption which allows unused pension funds to be inherited tax free. Currently, if a pension holder dies before the age of 75 their beneficiaries can generally inherit the remaining funds tax-free,...
Autumn Budget 2024 – Full Summary
Chancellor Rachel Reeves delivered her Budget on 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’.
Judge divorces wedding venue from Business Property Relief (BPR)
Claiming BPR from inheritance tax is a valuable tool in enabling family businesses to continue to operate down the generations.
Loose lips sink ships …
In Spencer vs Spencer, Lincolnshire farmer Michael Spencer recently won his case against the estate of his late father, John Spencer, leading to him successfully inheriting the family farming business.
Autumn Statement 2023
On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses.