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

Inheritance tax exemption threshold for farmers increased to £2.5m

Inheritance tax exemption threshold for farmers increased to £2.5m

Change takes effect from 6 April 2026

Isabel Baxter
clock 23 December 2025 • 2 min read
IHT receipts continue on path to record year

IHT receipts continue on path to record year

£5.8bn for first eight months of 2025/26

Jen Frost
clock 19 December 2025 • 2 min read
Will the Budget be enough to halt the UK's high-net-worth exodus?

Will the Budget be enough to halt the UK's high-net-worth exodus?

'People are not buying into the chancellor's message that the UK is pro-business'

Stephen Kenny
clock 01 December 2025 • 4 min read