A new threshold for BPR From April, 100% BPR relief will be capped at £1 million. Any qualifying assets above this threshold will receive only 50% relief, resulting in an effective IHT rate of 20% on the excess. This will
More about Business Property Relief restrictions – Inheritance Tax planning with art and heritage assetsAs the Autumn Budget approaches on 26 November, the private client sector is poised for further change amid uncertainty over the UK’s evolving political and economic landscape. Tax reforms affecting UK-based individuals — and potentially those with UK connections —
More about Globally Speaking – October 2025This article outlines the key principles and scenarios affecting the inheritance rights of spouses, children, and parents. Previous articles on this topic include Shari’ah, and an introduction to Islamic inheritance law and Heirs in Islamic law. Shari’a law On the
More about Shares under Islamic InheritanceThe ROE Since 31 January 2023, overseas entities that hold or acquire interests in UK real estate have been required to register with the UK Registrar of Companies (via Companies House) (the Registrar) and to disclose required information about themselves,
More about Public disclosure of trust information: reforms to the ROE and TRS regimes affecting non-UK trustsOn 2 September 2025, the UK Government published draft “Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations 2025” (the Regulations), which included proposed amendments to the rules governing the UK’s Trust Registration Service (TRS). These changes aim to
More about Expansion of the UK Trust Registration Service: implications for non-UK trustsWider context Carried interest is a share of profits from an investment that is paid to investment managers and general partners in private equity, venture capital, or hedge funds. It is a performance fee that is paid out to fund
More about Private equity and carried interest: preparing for the new rulesIn Pelgrave v The Pensions Regulator[1], the Upper Tribunal (Tax and Chancery Chamber) considered whether Elizabeth Ann Pelgrave should be subject to a contribution notice (CN) under section 38 of the Pensions Act 2004. The case arose from a determination by
More about Part 1 – TPR Contribution Notice against Director upheldProject Nemo: navigating global pension complexities in a share sale Project Nemo involved WB and i-Global Law acting for a US-headquartered cloud computing specialist in the Sale of its global communications division to a leading provider of share registration services.
More about Part 2 – Key Wedlake Bell international pensions and employee benefit projectsHMRC’s draft legislation issued on 21 July 2025 for Technical Consultation features the points of principle in the adjacent box. Many comments have been made in response to the Consultation. We now await the Finance Bill which may contain changes.
More about Part 3 – Inheritance Tax and PensionsPARLIAMENT Effective Date Effect Bills (and Acts not yet in force) FINANCE BILL 2025/2026 HMRC published draft IHT legislation on 21 July 2025 The Bill will be introduced in Parliament following the Chancellor’s Autumn Budget on 26 November 2025 including
More about Part 4 – Pensions Ready Reckoner October 2025