HMRC ditches Family Investment Companies taskforce

Team set up in 2019

clock • 2 min read

HMRC has completed its review into the use of Family Investment Companies (FICs), concluding they are not being used for tax-avoidance purposes.

The taxman's team was initially set up in April 2019 to investigate the tax risks of FICs, specifically in relation to inheritance tax (IHT). FICs have traditionally been used as part of succession planning for high net worth clients but have become increasingly popular because of their tax advantages. Their structure means they can be used to transfer value to younger generations without the older generation releasing control of the assets and without creating an immediate IHT charge. An HMRC spokesperson said: "The objective of the team was to establish an improved understanding ...

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

Budget 25: Key takeaways from Autumn Budget 2025

Budget 25: Key takeaways from Autumn Budget 2025

Eight key takeaways

Linus Uhlig
clock 27 November 2025 • 4 min read
Partner Insight: Inheritance Tax, pensions and the waiting game: Conversations to have now

Partner Insight: Inheritance Tax, pensions and the waiting game: Conversations to have now

With Inheritance Tax expanding and pensions coming into scope, now is the time for advisers to engage clients. Discover how to turn uncertainty into opportunity with strategic estate planning conversations.

Nick Priest Partner and Head of Strategic Partnerships, Downing
clock 26 November 2025 • 9 min read
Budget 25: Changes to IHT on pensions rules for personal representatives

Budget 25: Changes to IHT on pensions rules for personal representatives

Will be able to instruct scheme administrators to pay

Isabel Baxter
clock 26 November 2025 • 3 min read