In our November 2025 edition of Globally Speaking, we explained that the UK Budget on 26 November 2025 included an unexpected announcement affecting the inheritance tax (IHT) position of formerly “excluded property trusts” that had a “long-term resident” (LTR) settlor
More about Capping inheritance trust charges for excluded property trusts revisitedHigh Value Council Tax Surcharge For many years, the UK stood apart from our European neighbours by not imposing an annual property tax beyond standard council tax. While speculation about a “mansion tax” has circulated for many years, it never
More about Considering a prime residential property in England? Here’s what you need to know about Stamp Duty Land Tax and the new High Value Council Tax Surcharge2026 begins with renewed momentum: fresh starts, evolving rules for wealth and estate planning, and a lively political backdrop. After a year of significant change in terms of tax policy and regulatory frameworks, we hope that 2026 brings greater certainty,
More about In Trust – January 2026It is worth a reminder of how we got here: as the rules stood, historically, there was no limit on the value of property which, if it qualified for 100% relief as agricultural or business property, could pass on death
More about Festive cheer for farmers and business owners as Government increases APR and BPR 100% relief limit to £2.5mMake use of available agricultural or business inheritance tax reliefs Currently, qualifying agricultural or business assets can receive up to 100% relief from IHT under agricultural property relief (APR) or business property relief (BPR) as applicable. From 6 April 2026
More about New year, new rules: key tax planning opportunities for the year aheadDespite them feeling like one of the family, under English law, pets are legally classified as chattels i.e. they are deemed items of property. In the eyes of the law, your beloved dog or cat is therefore treated much like
More about Bone of contentionFacing the unthinkable while young No one likes to consider a future where you pass away not having lived a long, full life, or where you have lost your mental capacity, especially when you are young, fit and healthy. However,
More about Safeguard your future: the importance of young people making Wills and Lasting Powers of AttorneyCommon issues parents face when planning care arrangements over Christmas Some of the predicaments we see are: How is Christmas defined, for example is it just the day itself, or does it encompass Christmas Eve and/or Boxing Day? Who will
More about Avoiding festive friction: how to plan care arrangements for childrenThe UK Budget delivered on 26 November 2025 introduced a series of targeted measures for internationally mobile, UK‑connected individuals and families with cross‑border wealth, but do not represent the sweeping tax reforms that had been predicted. The Budget is arguably
More about Globally Speaking – UK Budget UpdateDespite speculation, the Budget did not introduce a capital gains tax (CGT) exit charge for individuals leaving the UK; nor were there new wealth taxes beyond the high-value council tax surcharge, two measures which were strongly rumoured in the weeks
More about The UK Budget 2025: impact for international private clients