Reeves’ non-dom crackdown is unwittingly driving rich Brits away too August 4, 2025 The hordes of wealthy foreigners leaving Britain to escape the government’s non-dom crackdown are being joined by high-net-worth Brits capitalising on an arcane element of the policy that has made it easier for them to avoid paying inheritance tax (IHT). Several wealth advisers and tax lawyers have reported a “second wave of interest” from middle-aged [...]
Rachel Reeves mulls inheritance tax U-turn as non-doms flee June 17, 2025 Rachel Reeves is reportedly mulling over changes to inheritance tax (IHT) on non-doms for assets held around the world, as pressure has ramped up from the City. That’s according to a report in the Financial Times, with “tweaks” to current rules to stem the UK’s haemorrhaging of non-doms. This potential U-turn follows pressure on the [...]
Average earners dragged into IHT net – how can you reduce your taxes? June 5, 2025 New rules to include pensions in estates for Inheritance Tax purposes could see average earners dragged into the IHT net. How can you protect your assets? Inheritance tax receipts rose over £8bn in the 2025 to 2025 financial year, an increase of £0.8bn from the year before. That was due to a combination of rising [...]
Non-dom exodus could blow ‘black hole’ in public finances June 2, 2025 At least 10 per cent of the UK’s non-doms left the UK last year following Rachel Reeves’ crackdown on the tax status, new research claims, a rate which if continued into this year would wipe out the Chancellor’s fiscal headroom. According to the Chamberlain Walker study, conducted by former Treasury economist Chris Walker, a minimum [...]
MPs demand changes to inheritance tax raid on farms May 16, 2025 Plans to levy inheritance tax on farmland threaten the future of British agriculture and should be paused while its ill effects are properly examined, an influential committee of MPs has said. In a damning report on the state of British farming, the Environment, Food and Rural Affairs (EFRA) Committee argued there was a “considerable risk” [...]
How to shield your pension from Labour’s inheritance tax raid May 6, 2025 According to new analysis by Quilter, just two per cent of estates subject to inheritance tax (IHT) are currently taking advantage of surplus income gifting to reduce their tax liabilities. Based on freedom of information (FOI) requests carried out by the wealth management firm, just 1,490 estates are currently taking advantage of the rules, but Quilter expects [...]
Farmers aren’t the only ones affected by inheritance tax changes March 14, 2025 Most of the coverage of inheritance tax has focused on farmers but they make up a tiny proportion of the businesses that will be hit by this unfair levy, it’s time for family businesses to speak up, says Lucy Williams While I have every sympathy for the farming community, many would be forgiven for thinking [...]
Shadow Chancellor slams inheritance tax changes as an “absurdity” February 26, 2025 Shadow Chancellor Mel Stride has slammed proposed changes to business tax relief, saying that the policy will force many to “shut down or be forced to sell”. Stride’s comments echo those of prominent businesspeople and politicians who have been railing against the higher taxes announced in Labour’s budget for the last four months. “British institutions, [...]
‘We will not give in’: Farmer tax fury is not going away February 26, 2025 Gripping his lectern on stage in Birmingham, Keir Starmer was attempting to win over the ever-sceptical delegates at the National Farmers’ Union congress. The then-leader of the opposition told attendees of the 2023 iteration of the annual jamboree that he understood their pain, and promised to reset government relations with farming were he fortunate enough [...]
How to shield your pension from Labour’s inheritance tax raid January 27, 2025 Financial advisers are cautioning against taking extreme measures in response to the government’s plans to slap inheritance tax on unspent pension pots from April 2027. However, there are some measures that savers can take as part of their overall estate planning strategy. Pension pots are usually exempt from inheritance tax. But in last October’s Budget, [...]