One Four Nine Wealth – Guide to the New Inheritance Tax Rules
The October 2024 Budget proposed significant changes to UK Inheritance Tax (IHT) rules, particularly for trading businesses and farmland owners. Effective from April 2026, these types of assets will have reliefs capped at 100% for the first £1 million of qualifying assets. For valuations exceeding £1 million, the relief will reduce the IHT payable by 50%.
Although this rate is lower than the standard 40%, many families who were previously unaffected by IHT may now find themselves impacted, presenting new challenges for estate planning.
Understanding these proposed changes is crucial for anyone who owns a family business, farmland, or other qualifying assets. Effective planning could help minimise tax liabilities, safeguard your estate, and ensure your financial legacy for the next generation.
Read our Guide to the New Inheritance Tax Rules here.
The Financial Conduct Authority does not regulate Estate Planning or Trust Planning
To read more guides from One Four Nine Wealth select “Guides” in the filter option on our News page or click here.
One Four Nine Group
