Inheritance Tax Changes: What You Need to Know

Inheritance Tax (IHT) is becoming an increasingly important consideration for families across the UK.

With tax thresholds remaining frozen, rising property and asset values, and significant changes to reliefs coming into effect, more estates could find themselves facing an IHT liability.

• From April 2026, changes to Agricultural Property Relief (APR) and Business Property Relief (BPR) mean that some agricultural and business assets may no longer receive the same level of IHT protection as previously.
• Further changes are also expected from April 2027, when unused pension funds are due to come within the scope of IHT.

For homeowners, business owners, farmers and anyone with significant savings, investments or pension assets, now is an important time to review your estate planning.

There are a number of options that may help reduce a potential IHT liability, including lifetime gifting, trusts, reviewing your Will, making the most of available exemptions and ensuring your assets and pension arrangements are structured appropriately.

Early planning can make a significant difference.

Our Private Client team can advise on Wills, trusts, lifetime gifting, inheritance tax planning, business succession and wider estate planning.

Please contact Gemma Lowe or David Hardy today to arrange a confidential consultation and review your arrangements –  leamspa@fieldoverell.com or 01926 422101