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.
Pensions update – changes to income tax for beneficiaries
Discover the impact of Spring Budget 2023 on Pension Taxation: Say Goodbye to the Lifetime Allowance (LTA) and Inheritance Tax Benefits. Learn how recent changes affect your pension withdrawals and inheritance plans.
APR and Foreign Properties – Spring Budget Changes
Since 2009, UK farmers who own land abroad have been able to claim Agricultural Property Relief (APR) in the form of inheritance tax relief for lifetime transfers of that land, or on death. This is a result of a Finance Act 2009 amendment of the Inheritance Tax Act...
‘Loophole’ helps prevent families falling into inheritance tax trap
With more and more people becoming liable for inheritance tax (IHT), experts at Whitley Stimpson are urging families to consider using a little used loophole to reduce its impact.