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What is your duty to co-operate with your regulator?
Zoe Beels
The Budget last month sent shockwaves through the UK’s farming and family business communities with the revelation that from 6 April 2026, 100% IHT relief through Business (Property) Relief (“BR”) and Agricultural Property Relief (“APR”) will be capped at £1m of assets (combined agricultural and business property) and over that amount, will be charged at an IHT rate of 50%. Currently there is no limit to the amount of either relief.
Please see below for our immediate thoughts on pertinent parts of the Budget affecting our client base but do let us know if you have any questions or there is anything you wish to discuss.
If someone dies domiciled in the UK for inheritance tax (IHT) purposes (or non-domiciled but with UK assets exposed to IHT), this is a tax that cannot be ignored.
With the recent Spring Budget came a relatively small update to Inheritance Tax (“IHT”) whereby applications for a ‘Grant on Credit’ no longer require Personal Representatives (“PR”) to seek commercial loans to pay IHT before they are able to apply for the Grant.
Now that your affairs have been structured effectively, attention turns to estate planning. Laura Harper sits down with Joshua Moss and Ed Johnson to discuss estate planning for international Americans.
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