The 2024 UK Budget introduces a significant change to inheritance tax (IHT) rules that could reshape financial planning for family business owners. From April 2027, pensions will now be included under IHT assessments, posing new considerations for those aiming to pass on wealth efficiently. For many, pensions have been a key component of inheritance tax planning, but these changes mean it’s time to reassess how retirement savings factor into broader legacy and succession stra

Family Business United has written to the Chancellor of the Exchequer to voice the concern of the family business sector in light of the changes announced in the Autumn Budget following discussions with numerous members and consultation with other members of our community. Further letters were sent to other key figures including Kemi Badenoch MP, the leader of the Opposition. As Paul Andrews, Founder and CEO of Family Business United explains, "As the CEO of Family Business

Perhaps the biggest surprise in the Budget was the extent of the restrictions imposed on two valuable inheritance tax reliefs, being Agricultural Property Relief (APR) and Business Property Relief (BPR). Is this the end of the road for BPR and APR? Accountants from Rickard Luckin share their thoughts. What Changes Were Made To BPR And APR In The Budget? The 'Current Rules' Until 30 October, anyone holding an asset on death, or who had given one away in the seven years before

Chancellor Rachel Reeves has unveiled the much-anticipated Autumn Budget, outlining the government’s plans to address the nation’s financial challenges. As expected, the budget includes several significant changes. Here, we break down the key announcements and what they may mean for your wealth. Major Budget Announcements That May Affect Your Wealth We have outlined four key changes with direct implications for your wealth: Capital Gains Tax Reforms Significant capital gain