Listen "Inheritance Tax Changes: What Business Owners, Expats & Families Need to Know Now"
Episode Synopsis
In this essential episode of SRLV’s Not Just a Number, Partner Kieron Clement-Smith and Senior Tax Manager Elie Pippard-Kemp unpack the sweeping changes to UK Inheritance Tax announced in the Autumn 2024 Budget and what they mean for entrepreneurs, family business owners, pension savers, international residents and UK expats.From the abolition of the non-dom regime to new rules impacting Business Property Relief (BPR), Agricultural Property Relief (APR) and pensions, the SRLV team discuss the key Inheritance Tax changes between April 2025 and April 2027, and their potential impact on private estates.This episode covers:How the new Long-Term Residence rules affect Inheritance Tax for non-UK domiciles and UK expatsThe Inheritance Tax changes for UK business owners, farmers and AIM investors, from April 2026The benefits of Trusts, protecting wealth for children and grandchildren, and IHT considerations for blended familiesWhy life insurance and Wills are vital considerations when it comes to protecting your wealth and legacyThe IHT benefits of marriage and Civil PartnershipsWhether you're a pension saver, business owner, non-UK domicile, or a family office with international assets, this episode offers timely, expert guidance on UK Inheritance Tax reforms.Key moments in this episode:0:00 - Introduction to Inheritance Tax Changes2:02 - The Current Inheritance Tax Landscape Explained3:47 - Making Lifetime Gifts and Potentially Exempt Transfers6:16 - The Benefits of Trusts for Intergenerational Wealth Transfers9:39 - Non-Dom Regime Changes from April 2025 and New Rules for Long-Term Residents 13:00 - The Impact of new IHT Residency Rules on UK Expats14:29 - Business Property Relief (BPR) and Agricultural Property Relief (APR) Changes from April 202621:28 - The Alternative Investment Market and New IHT Rules23:05 - Pension Inheritance Tax Changes from April 202725:22 - Regular Gifts Out of Surplus Income and Pension IHT Changes28:28 - The Spousal Exemption Rules for Married Couples and Civil Partnerships30:13 - Wills, Life Interest Trusts and IHT Considerations for Blended Families32:34 - Top Inheritance Tax Tips and Seeking Professional AdvicePrefer to watch? Head over to our YouTube channel to watch the full episode. Not Just a Number is a podcast for entrepreneurs, creatives and industry pioneers who want to grow businesses and protect what matters most to them and to their families.Produced by SRLV - one of London’s leading boutique advisory firms - the show goes far beyond tax and accounting to bring a unique perspective on business, innovative thinking and leadership from the people shaping global industries, including music, entertainment, technology, consumer brands, and private wealth.Each episode’s candid conversation focuses on personal stories, business strategies, top tips and trends - from scaling up companies and international relocations to creative rights and real-world business growth.Whether they are clients or professional contacts, all our guests are friends of our business and so much more than “just a number”. People and relationships always come first at SRLV.This Podcast is published for the information of clients and contacts. By accessing this Podcast, you acknowledge that SRLV LLP makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured and contained within this Podcast. The information, opinions and recommendations presented in this Podcast are for general information only and any reliance you place on the information provided in this Podcast is done at your own risk. This Podcast provides only an overview...
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