Upcoming Changes to Inheritance Tax

What You Need to Think About

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The Budget 2025 is set for 26 November, and there are significant changes rumoured.

From April 2026 we will also see the changes announced in 2024 come into effect.

These changes could have a substantial impact on business owners and individuals, and we recommend considering your personal circumstances to determine if any actions are necessary.

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What’s Changing?

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From April 2026, trading business assets and company shares are no longer fully exempt from IHT, which means that careful tax planning is crucial to avoid a proportion of the family wealth being handed to the government on death.

Where you own trading assets, or even non-trading assets like residential property, there are options available to you – such as outright gifting, or perhaps a trust for children or grandchildren.

Different tax implications and thresholds apply depending on personal circumstances and the type of asset, so it's important that you discuss your individual position with an expert before deciding whether you need to take any action.

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Next Steps

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You can find further information on gifting, trusts and growth here.

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We recommend considering the following ahead of the upcoming Budget taking place on 26 November 2025:

• Review your current asset portfolio – including business interests and property holdings.
• Understand your IHT exposure – and how the changes may affect you.
• Speak to a specialist to explore tailored strategies and potential savings.

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Get in Touch

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If you are keen to explore what your Inheritance Tax exposure is, and ways that you could perhaps mitigate it, please get in touch.

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