Changes to inheritance tax – impacts for private businesses and their owners

Join us for our next Breakfast Serial event on Thursday 1st May at our Stockport office. We will talk in detail about the changes to inheritance tax outlined in the October 2024 budget, and what they mean for regional private businesses and their owners.

The session will be led by Karen Chadwick, head of HURST’s private client team, together with Nigel Barratt, head of HURST Corporate Finance, and Adrian Young, tax partner. 

The agenda:

Changes to the inheritance tax rules

• We will run through the Business Relief changes in detail and timelines for when the new rules take effect & address any outcome of the Spring Statement in this regard
• We will outline the forthcoming changes to IHT on Pensions

Immediate implications for private businesses and their owners

We will then outline what the changes mean for private businesses and shareholders, looking in particular at:

1. The reduction in business relief/agricultural property relief
2. The impact on trading businesses
3. The impact on family trusts
4. The impact on individuals & their families

Reactions

We will set out potential ways for private businesses and their owners to address the changes between now and the implementation of the new rules in April 2026. This will include:

1. Assessing the inheritance tax exposure
2. Continuing business as normal
3. Family transfers of trading businesses and maximising use of IHT reliefs and allowances
4. Business Relief reviews
5. Review of Wills
6. Life insurance
7. Third party sale

Our experiences to date

Finally, we will discuss what reactions we are seeing from the North West business community, and how the changes to the inheritance tax rules are driving transaction activity locally.

Q&A

Whereas the session will be interactive throughout, we will leave some time at the end of the programme to allow for discussion and Q&A.

Register now using the button on the left!