From 6 April 2027, significant changes will be introduced to the way pensions are treated for Inheritance Tax purposes. Under the new rules, most unused pension funds and pension death benefits will be included when calculating the value of a deceased person's estate for Inheritance Tax. For many people, pension savings form a significant part of their overall wealth. Including these funds within the estate for Inheritance Tax purposes could therefore increase the value of so

Inheritance Tax thresholds remain frozen, meaning that increasing property and asset values could result in more estates becoming liable for Inheritance Tax over time. The standard Inheritance Tax Nil-Rate Band remains at £325,000, while the additional Residence Nil-Rate Band remains at up to £175,000 where a qualifying home is passed to direct descendants. For qualifying estates, this can potentially allow an individual to pass on up to £500,000 before Inheritance Tax become

Important changes to Inheritance Tax relief for agricultural and business assets came into effect on 6 April 2026. Under the new rules, the 100% rate of Agricultural Property Relief and Business Property Relief is limited to a combined £2.5 million of qualifying agricultural and business assets. Qualifying assets above the available allowance will generally receive relief at 50%. Any unused part of the £2.5 million allowance may also be transferred to a surviving spouse or ci

Why should I use a Society member? Members continue to train on a yearly basis doing a minimum of 24 hours All of our members hold...

If you no longer have mental capacity and have not signed and registered an LPA, then it would be necessary for your family to apply to...

Inheritance Tax (IHT) is a tax on the estate of someone who has died, including all property, possessions and money. The standard...

Who is the next of kin when someone dies without a will, and who will inherit your estate? Did you know that Parents, brothers and...

People ask this a lot. What’s the point of writing a will? Why do we do it? Making a will is a really personal matter. It’s not for me to...