Partner James Cook has contributed an article to Tax Adviser which explores the significant inheritance tax (IHT) reforms expected in the upcoming Autumn Budget 2025, and examines how proposed policy shifts could reshape estate planning, business succession, and pension strategies across the UK.
The article provides a detailed analysis of the government’s proposed overhaul of the IHT regime including reductions to agricultural and business property reliefs, the inclusion of pensions within the IHT net, and the potential abolition of the long-standing seven-year gifting rule. James outlines the far-reaching implications for advisers and clients, particularly around timing, liquidity, and intergenerational wealth transfer. He also explores alternative planning strategies such as the use of discretionary trusts, family investment companies, and insurance-based solutions, urging advisers to take proactive steps to safeguard client interests in an evolving fiscal landscape.
The inheritance tax reforms represent one of the most profound shifts in wealth transfer policy in a generation. Advisers and clients alike must now act early, plan carefully, and prepare for an era where certainty in tax planning is in short supply.
The article is available to view at Tax Adviser by subscription only.
About James
James Cook is a partner in the private client team. He advises on estate and succession planning, wills, probate, trusts, tax-planning, lasting powers of attorney, enduring powers of attorney and Court of Protection matters. His work often includes international elements whereby he advises both UK and non-UK clients.
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