A battle of wills

clock

Last year's Pre-Budget Report heralded major changes in inheritance tax planning. Julie Hutchison goes through the changes

On the day of a Pre-Budget Report (PBR) or Budget, it is often the case that detail is lacking and it is difficult to properly analyse the impact of the tax changes. In October last year however, the inheritance tax (IHT) changes for the nil rate band (NRB) were announced with draft legislation and a detailed Guidance Note. This was followed by a Frequently Asked Questions document on the HM Revenue & Customs website (www.hmrc.gov.uk). The level of detail even extended to considering the impact on those whose spouse had died pre-1975 under the old estate duty rules, so the practical applica...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Estate planning

Probate fee to rise by 75% from mid-July

Probate fee to rise by 75% from mid-July

Broader client conversations on estate planning encouraged

Jaskeet Briah
clock 09 July 2026 • 3 min read
Late estate planning risks adding billions to govt's IHT coffers

Late estate planning risks adding billions to govt's IHT coffers

Families could face £12.3bn in ‘preventable' IHT

Jenna Brown
clock 03 June 2026 • 2 min read
Octopus Legacy legal arm adds private client team

Octopus Legacy legal arm adds private client team

Grows headcount by around a third

Jen Frost
clock 27 May 2026 • 2 min read