archiveinheritance tax

The UK has been warned that its food security is at risk ahead of Labour's changes to inheritance tax (IHT), which are expected to severely impact farmers. Adjustments to Agricultural Property Relief (APR) and Business Property Relief (BPR) announced by Rachel Reeves in her maiden budget are expected to take effect from April 2026, though the Government has faced calls to delay this by a year. The changes mean IHT relief for business and for agricultural assets will be capped at £1million, with a rate of 20% being charged above...

As of April last year, nearly 6,000 estates across the UK remain unclaimed. This could equate to a staggering £1,674,281,307 lying dormant in property value alone until the rightful heirs can be identified, according to law firm Weightmans.These unclaimed estates may also include assets, savings, heirlooms and potentially life-altering windfalls. While the exact contents of each estate are unknown, the names of the deceased are made public in an attempt to locate their next of kin and beneficiaries. The government maintains a comprehensive list of all the unclaimed estates in...

Published 14th May 2025, 05:45 BSTNow another sucker punch is on the horizon. There’s still time, though, for the government to drop its gloves, retreat to the corner, and give businesses a fair fight.That potential knockout blow, particularly for family-owned SMEs, comes in the form of proposed changes to Business Property Relief (BPR).For more than 30 years, BPR has been a cornerstone of the UK’s inheritance tax system. It allows qualifying business assets to be passed down without incurring a punitive tax bill, enabling family-run firms to transition smoothly across...

The overall picture for current UK expats is generally a positive one ahead of new tax rules coming into effect on April 6 2025, according to Helen Clarke, HNW and international partner at Irwin Mitchell.Following the Autumn Budget, Rachel Reeves introduced a new set of rules which included the introduction of the foreign income and gains regime. This will offer 100 per cent relief on foreign income and gains for the first four years of UK tax residence for certain returning expats. Reeves also unveiled a new residence-based system for...