Inheritance Tax: Post-Budget Commentary Coming Soon

Inheritance tax remains a key focus for the Chancellor, with the upcoming Budget expected to provide clarity on several important areas. Since last year’s Autumn Budget, discussions have continued around reforms to agricultural and business property relief, as well as potential changes to how pensions are treated within the IHT regime.

Recent comments from the Chancellor suggest that additional measures may also be under consideration. These could affect lifetime gift allowances, pension contribution reliefs, or even introduce new taxes. There have also been reports that the Chancellor is considering a partial reversal of the decision to apply the full rate of IHT to worldwide assets, in an effort to maintain the UK's attractiveness to wealthy individuals.

Why it matters

Changes to inheritance tax rules can have a significant impact on wealth succession planning and the transfer of assets between generations. Whether you are considering gifts, trusts, pension contributions, or business succession, understanding the Chancellor’s plans is crucial to making informed decisions and ensuring your estate is managed efficiently.

We’ll be publishing our full analysis and commentary immediately after the Budget is announced, helping you understand what these changes could mean for planning and decision-making. Check back soon for our detailed post-Budget insight.

How We Can Help

We can help you understand how upcoming changes may affect you, identify opportunities to plan effectively, and give you peace of mind that your arrangements remain fit for the future.

Contact our legal experts

Gráinne Staunton

Posted by
Gráinne Staunton
Partner & Solicitor / Head of Private Wealth

Recent cases

Wills and Succession Advice

Gráinne was instructed to review a high-value portfolio of land and business assets for a parks client, including leisure and renewable energy interests. She created flexible Wills designed to reflect recent family changes and accommodate future business developments.

Inheritance Tax & Succession Advice

Gráinne advised on inheritance tax and succession planning for a high-value park business, including potential tax reliefs across multiple assets and assistance with complex business valuations.

Significant Inheritance Tax Savings

Naomi recently advised on the administration of an estate left in trust involving over 70 charity and non-charity beneficiaries. Through strategic trust appointments, Naomi secured the reduced charitable IHT rate at 36%, resulting in a substantial tax saving exceeding £230,000 for the beneficiaries.

Agricultural Property Relief

Dealing with complex claims for Agricultural Property Relief, including on estates with multiple farmhouses, which require an ability to delve deeply into the technical detail of the law to support the claim.

Business Property Relief

Achieving successful claims for Business Property Relief in estates, resulting in a reduction of Inheritance Tax on one estate by nearly seven figures.

Unpicked Complex Trust Provisions

Advising on the technical detail of an unusual trust deed which involved deep research into the terms used by the settlor and their impact on trustees’ powers and duties.

Estate Administration and Tax Planning

Successfully administered an estate involving Business Property Relief and Agricultural Property Relief claims for a holiday park owner. Despite complex issues, including lifetime gifts and associated company activities, the Inland Revenue accepted the claims, ensuring the family business continued without tax burdens.

Estate Administration

Management of a complex estate worth over £2M, addressing investment portfolios and foreign tax issues. Rachael and the team identified a missed £130,000 tax saving and meticulously corrected previous steps, ensuring a successful resolution.

Estate Planning

Advised a non-domiciled client with £3.5M in cross-border assets on UK residency, inheritance tax, and succession planning. She provided tailored strategies, navigating complex tax changes and delivering timely, detailed advice for transferring assets.

Interpreting Unusual Trust Provisions

Advising on the technical detail of a trustees’ powers and duties on the wording of an unusual trust deed.

What our clients say

"I am very impressed with the very efficient and professional service I have received from Mr Graeme Manfield over many years dealing with a family trust. Graeme is efficient and professional and he is a great ambassador for Tozers, Exeter. Thank you."

Richard

"My mother's estate was efficiently dealt with by Naomi who was helpful and very approachable. Any questions were dealt with in good time and without difficulty. The process has been professional and inspired confidence, without being impersonal. Professionalism with a human face!"

Mr James

"Sasha Brennan was extremely professional, efficient and friendly in helping my spouse and I draw up our Wills. I would highly recommend her and Tozers."

Emma

"I found everyone very friendly and helpful. I was made to feel very welcome. Sophie was so nice and made me feel at ease. Very pleased all round."

Myra

"Sue made creating our will straightforward and stress free. She was professional, clear, and patient, answering all our questions and helping us think through important details. The process was quick and efficient, and we now feel much more at ease. Highly recommend!"

Simon

"We'd been putting off the job of getting our wills sorted as it seemed a daunting task, but Rachael made it very easy. She was clear and supportive through the process, which turned out to be much simpler than we'd ever imagined!"

Yvette & Chris Elliot

"Service and advice were excellent and communication was very good at all stages. We would recommend Tozers to anyone who asks.”

"We approached Tozers to put in place wills, trusts and set up Powers of Attorney. The trusts put matters slightly outside the norm and several conversations were needed to ensure we would achieve what we wanted."

"Everything was incredibly well organised, efficient, and very professional. First rate service all round."

"We were well informed and well supported throughout the whole process of re-writing our wills and organising Power of Attorney."

Articles

Budget Watch: Inheritance Tax Update – Headlines for Business Owners and Farmers

26 November 2025