Welcome to this spring edition of our Private Client newsletter.
And whilst our gardens, fields and roadsides are definitely starting to show signs of growth, things haven’t been quite as plain sailing for the economy.
Having delivered her Spring Statement at the beginning of the month, thankfully Chancellor Rachel Reeves announced no new tax changes. However, with record tax receipts collected by HMRC in January it is vitally important that tax planning remains a focus for families and business owners.
Capital taxes, and in particular Inheritance Tax remains a core focus for many of our clients. With the involvement in family businesses spanning generations, clients remind us that time spent round the family dinner table often involves discussion around Inheritance Tax and Succession Planning.
The 2024 Autumn Statement Inheritance Tax changes take effect from 6 April 2026 and will have a material effect on family-owned businesses.
Over the last 20 years or so ownership of such business has been retained until death, but every family-owned business now needs to assess whether this will produce the right outcome. Or understand how an additional amount of Inheritance Tax could have a material impact on the future of the business and what plans could be made to mitigate the effect of those changes.
In this edition we’ve got articles on:
Succession, structures and the shifting landscape for family-owned businesses
Inheritance tax on pensions: What the 2027 changes mean for your estate
Business Valuations: How the sum of the parts can be less than the whole
Inside the Creator Economy: Insights from StarBox accountants
Case Study: How Investment Bonds could trigger an unexpected tax bill
The importance of relationship planning
You can view or download the full newsletter below.
As always, we hope you’ll find this edition informative and thought-provoking. Please do get in touch if you’d like to discuss any of the topics in more detail.
