Buzzacott private client experts featured in IFA Magazine
17 May 2023 • News • Personal Tax, Trusts and Probate
We’re pleased to share that Neal Lees and Richard Pott from our Private Client team have been featured in IFA Magazine sharing their analysis of the upcoming changes to Business Property Relief (BPR), due to take effect in April 2026.
Key themes covered:
What’s changing: From 6 April 2026, qualifying business assets up to £1 million per person will continue to benefit from 100% BPR. Any value above that will only attract 50% relief, effectively exposing that portion to 20% Inheritance Tax
Why it matters: If, for example, a business owned by an individual is valued at £10 million, under the new rules, an IHT liability of £1.8 million could arise - where previously there would have been none
Practical planning strategies: Tackling such scenarios head-on by reviewing valuations, succession planning, ownership structures, trusts, and timing of transfers.
These reforms are set to have a significant impact on succession and estate planning, making early action essential.
Read the full article here.
If you’d like to discuss how these changes could impact you, please get in touch with our team.
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