Osborne scraps review of deeds of variation

But govt 'will continue to monitor their use'

clock

The government has announced it will not be introducing new restrictions on how deeds of variation are used for tax purposes.

Deeds of variation provide for family members to alter the distribution of a deceased's estate and can also be used to lower tax liabilities. The Chancellor George Osborne announced during the Budget in March that the government would be reviewing their use. This came after it emerged then Labour leader Ed Miliband had used the mechanism to change his father's will. But the government announced on 25 November it would not introduce new restrictions but would "continue to monitor their use".

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 Tax planning

IHT liabilities hit record £7.03bn in 2023-24 tax year

IHT liabilities hit record £7.03bn in 2023-24 tax year

Figures ‘set to accelerate’

Sophia Panayi
clock 30 July 2026 • 2 min read
Advisers urged to review legacy files after Court of Appeal IHT ruling

Advisers urged to review legacy files after Court of Appeal IHT ruling

HMRC is considering its next steps

Isabel Baxter
clock 28 July 2026 • 4 min read
Burnham U-turns on income tax allowance increase suggestion – reports

Burnham U-turns on income tax allowance increase suggestion – reports

Any change would be ‘difficult given the financial circumstances’

Isabel Baxter
clock 22 July 2026 • 2 min read