by johnireland | Tax Talk
HMRC has started sending agents an educational letter about the “excepted estate” shortcut for probate — the route that lets many non-taxpaying estates skip a full Inheritance Tax account (IHT400). The letters target applications filed at or near £325,000,...
by johnireland | Tax Talk
The Autumn Budget is on 28 October 2026, and the run-up brings the usual wave of speculation about further changes to Business Relief and Agricultural Property Relief on top of the £2.5 million cap already coming in from April 2026. That speculation is not fact, and...
by johnireland | Tax Talk
There is an Inheritance Tax exemption that works immediately, with no seven-year wait and no cap: gifts made from normal expenditure out of income. To qualify, a gift must come from income (not capital), be regular or habitual, and leave you able to maintain your...
by johnireland | Tax Talk
Business Property Relief used to be unlimited. Qualifying business assets passed free of Inheritance Tax whatever they were worth, which is why so many family firms survived the death of their founder intact. Since 6 April 2026, that is no longer the position. The...
by johnireland | Tax Talk
Business Asset Disposal Relief lowers the capital gains tax rate on qualifying business sales, up to a £1m lifetime limit per person. The rate has risen twice recently: 10% up to 5 April 2025, 14% from 6 April 2025, and 18% from 6 April 2026. To qualify, you generally...
by johnireland | Tax Talk
Thinking about gifting property to your children while you’re alive? It’s not as simple as signing over the deeds and waiting seven years. This week’s article unpacks the traps: how the seven-year rule and taper relief actually work, why continuing...
