Trust Taxation – Impact of Business and Agricultural Property Reforms

Objectives

This webinar will explain to attendees how the new restrictions on Agricultural Property Relief (APR) and Business Property Relief (BPR) impact both new and existing trusts. This will help attendees to ensure that clients using trusts do not incur unexpected inheritance tax (IHT) liabilities.

Key Topics

• Reminder of the APR and BPR changes, including calculating tax due by instalments
• Maximum relief for trusts created pre-30 October 2024
• Maximum relief for trusts created on/after 30 October 2024
• How the maximum 100% business allowance refreshes every 7 years for lifetime gifts
• Impact of the new regime on calculating 10-year and exit charges on ‘relevant property’ trusts, including how the maximum 100% business allowance refreshes every 10 years for trustees
• Impact of the new regime on qualifying interest in possession trusts

The course will contain a number of numerical examples, which will help to demonstrate how the new rules work.

Who Should Attend

Anyone who deals with inheritance tax advice or compliance for UK settlements containing business or agricultural property.

Delegates will need to have a good working knowledge of trusts and inheritance tax in order to benefit from this course.