You will no doubt be aware that the new Government’s first budget has significantly changed the tax regime. There are also various measures and discussions in the pipeline, creating uncertainty.

In particular, changes to Inheritance Tax (and related areas such as Business Property Relief and Agricultural Property Relief) have the potential for a massive impact. We advise anyone affected to have an initial discussion with one of our team members so that we can explore the effect of these changes and help them navigate the wealth planning landscape over the next two or three years.

There are also implications for capital gains tax, pension planning, stamp duty land tax, and changes in how UK non-domiciled individuals are taxed. If you think you may be affected by the changes (either now or in the future), our specialist tax advisers can provide practical advice to help you create space and options.
It’s worth looking at this sooner rather than later.

For a full review of how these changes may affect you, contact our private wealth and successsion team on 0113 849 4000.