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Navigating the impact of inheritance tax on farmers and landowners. https://lnkd.in/e-ee9s4e

Partner Ingrid McCleave comments in The Independent regarding the thousands of farmers that protested against the Budget changes related to Inheritance Tax on Tuesday, and the concerns for younger generations. Read Ingrid’s full comments by following the link here: https://lnkd.in/eRj3UEQ6 #Budget #AutumnBudget #UKBudget #Budget2024 #PrivateClient #InheritanceTax #TaxPlanning #Tax #UKfarmers

Loophole exempts 355 landowners in England from inheritance tax, data shows https://lnkd.in/ekju-hvm #Property #Landowners #InheritanceTax #Budget2024

Loophole exempts 355 landowners in England from inheritance tax, data shows https://lnkd.in/ekju-hvm #Property #Landowners #InheritanceTax #Budget2024

https://lnkd.in/eUmgA_Ey If you feel strongly that there is need for MP's to debate the proposed Inheritance Tax changes in greater depth before they are implemented, there is a live petition you might like to sign...

I am sure many of my connections are having the same experience as me with their clients in the lead up to the election, especially those clients who are non-domiciled in England. Unfortunately, without having Rachel Reeves (come on, who else is it going to be) on speed dial it is difficult to say what is going to happen with the future of inheritance tax. Of particular interest to me in Labour's manifesto was the statement that offshore trusts are going to be abolished (I am very happy I don't specialise in them!). There is no clear message as to whether the plan is to prevent the creation of future trusts or if this going to be retrospective legislation. For now, I shall be using my crystal ball to predict the future of inheritance tax.

NEWS CATCH-UP: As farmers protest the Government’s proposals to change inheritance tax, NMBS CEO Chris Hayward argues that “the merchant industry should be right alongside them.” Click or tap the link below for the full story: https://lnkd.in/eTA75WWF #farmersprotests #inheritancetax #businesspropertyrelief #buildersmerchants #plumbersmerchants #buildingmaterials

Inheritance Tax Changes and What You NEED To Know: The current inheritance tax threshold, or what’s called the 'nil-rate band,' allows individuals to pass on up to £325,000 tax-free. On top of that, there's another allowance called the 'residence nil-rate band. This helps people pass on up to £175,000 of the value of their home without paying any tax. Add those together, £500,000 that you can leave to your family tax-free. It has suggested scrapping that extra £175,000 allowance— the residence nil-rate band could bring an extra £2 billion into the Treasury every year.  A lot of families could be facing higher inheritance tax bills in the future. If you’ve been planning your estate around these tax allowances, it might be worth revisiting those plans, or at least keeping an eye on what happens in the October Budget. 👇 -The Future Of Inheritance Tax -Inheritance Tax Overview -Possible Changes -Property Prices -Agricultural and Business Property Reliefs -Pension Funds -Gifting Rules What to Expect Please see the detail video here: 👇 https://lnkd.in/eKHvaCHW

📢 Autumn Budget 2024: Could Changes Be on the Horizon for Inheritance Tax (IHT)? As we await the Autumn Budget announcement, there’s rising speculation on potential changes to Inheritance Tax (IHT) rules. Payable either when you make a lifetime gift/transfer or upon your death, here’s a quick overview of the current IHT landscape: Tax-Free Allowance: Everyone can leave up to £325,000 tax-free, with the balance being taxed at 40%. Home Allowance: Up to £175,000 allowance for your house. Spousal Exemption: Gifts to spouses or civil partners are exempt from tax. Potential £1M Protection: If you are fortunate and have good advisors, it’s possible to protect up to £1 million from IHT. Additionally, certain types of assets - like business assets and agricultural property - can receive up to 100% tax relief, making it crucial to keep your affairs in order. Navigating taxation can feel like a game of snakes and ladders, but with Fishers Solicitors’ expertise, we can help you plan effectively and save money for you and your family. For advice, reach out to our expert, Darren Perry at [email protected]. #InheritanceTax #AutumnBudget2024 #TaxPlanning #LegalExperts #LawFirm #IHT #AshbydelaZouch #Tamworth #Derby

The recent Autumn Budget has brought significant changes to Inheritance Tax reliefs for farms and rural landowners and it is estimated that over 4.8 million acres of UK farmland are at risk. So what does this mean for you as a landowner or rural business owner? Our latest article reviews the proposed changes and gives advice on the steps you should take. https://ow.ly/8JTB50UlRhT #InheritanceTax #RuralBusiness #Landowner #TaxPlanning #Saffery