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

Integrating lifetime mortgage advice into IHT planning

Integrating lifetime mortgage advice into IHT planning

'Now is the time to get ahead of the curve'

Dave Harris
clock 08 September 2025 • 4 min read
Court of Appeal ruling brings 'blockbuster' Russian divorce case to UK

Court of Appeal ruling brings 'blockbuster' Russian divorce case to UK

Multi-billion pound divorce claim could be heard in UK courts

Jenna Brown
clock 04 September 2025 • 3 min read
Petition to stop IHT on pensions hits 10,000 signatures

Petition to stop IHT on pensions hits 10,000 signatures

Government to respond to petition as it hits 10,000 signatures

Sahar Nazir
clock 04 September 2025 • 1 min read