Inheritance Tax

The level of inheritance tax (IHT) collected has reached a new high, according to analysis of the latest statistics by DJ Alexander Ltd. Scotland's largest lettings and estate agency said the latest statistics show that £7.13 billion was collected between April 2025 and January 2026, with

The UK government has secured a record-breaking windfall from inheritance tax as receipts surged to £7.1 billion between April 2025 and January 2026. This £100 million year-on-year increase, documented by HMRC, stems from a combination of appreciating asset values and long-term stagnatio

The UK government has announced a significant reversal on its inheritance tax policy for family farms, raising the tax-free threshold for agricultural and business property from £1 million to £2.5m. Experts at Johnston Carmichael have characterised the decision as an "early Christmas pre

With a projected £50 billion shortfall in public finances and a pledge not to raise income tax, national insurance or VAT, speculation is mounting that Chancellor Rachel Reeves may turn again to Inheritance Tax (IHT) reform when she makes her autumn budget statement on 26 November, writes Emma

Michael Jamieson discusses the financial challenges that recent changes to the UK's inheritance tax rules present to family-run businesses in Scotland and outlines various strategies to help mitigate their impact. In last year’s Autumn Budget, the Chancellor announced a number of significant c

Family-owned businesses in Scotland face increased challenges in the coming months, as the clock ticks down to "seismic" tax changes in April 2026. According to figures from BDO LLP, more than three quarters of Scottish businesses (78%) say they will be impacted by changes to Business Relief for Inh

With the UK’s most significant inheritance tax (IHT) reforms in nearly two decades set to roll out from April 2025, legal professionals must prepare for an influx of estate planning enquiries, according to a new YouGov survey commissioned by Brodies LLP. The survey of 2,001 UK adults aged 50+

Chancellor Rachel Reeves should revisit abandoned proposals from the defunct Office of Tax Simplification (OTS) to simplify the UK’s complicated tax system and unlock greater yield – without further damaging business confidence or deterring investment – according to Azets. In light

Ahead of the Alternative Investment Market's (AIM) 30th anniversary, Adrian Murphy discusses its significant shortcomings as both an incubator for growth companies and as a rewarding investment vehicle, arguing its poor returns have largely negated its inheritance tax (IHT) advantages. It is difficu

The number of families estates in Edinburgh and Glasgow subject to Inheritance Tax (IHT) is set to rise sharply by the end of 2026/27, according to a new report by Wright, Johnston & Mackenzie and Irwin Mitchell. The findings are based on a Freedom of Information request to HMRC and form part of

Impending changes to UK inheritance tax (IHT) and business property relief (BPR), set to take effect from 6 April 2026, are sparking significant concern amongst business owners regarding their potential financial impact. There is widespread anxiety about funding of unexpected tax liabilities and tri

With the latest inheritance tax (IHT) statistics showing revenues rising by nearly 10% over the last year it is time for a review of this tax according to DJ Alexander Ltd. The estate and letting agents firm said that an increase of £0.8 billion in IHT revenues between April 2024 and March 202

Inheritance Tax (IHT) receipts reached a record £8.2 billion in the 2024-25 tax year, up from £7.5bn previously, HMRC has revealed.

A Scottish third-generation egg producer has welcomed some aspects of Defra secretary Steve Reed’s so-called "new deal for farmers". However, managing director of Farmlay Iain Chapman, stopped short of giving his wholehearted support to the Secretary of State’s speech at last month's Oxf

Business owners and shareholders planning to gift shares to their children because of impending inheritance tax (IHT) changes have been urged by accountancy firm Azets to press the pause button and avoid rash decisions they may regret. Changes to the IHT relief available for assets qualifying for Bu