Trusts & Tax
Inheritance tax changes: what farmers and business owners need to know
If you own a farm, agricultural land or a family business, you may already be aware that inheritance tax (IHT) rules are expected to change from April 2026. While this announcement has caused understandable concern, the key message is clear: there is no need to panic, but it is important not to ign....
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Overseas assets: understanding the change to UK inheritance tax and residency rules
A holiday home in France. A bank account in Spain. An offshore trust in the Cayman Islands. Depending on your UK residency status, worldwide assets like these could increase the inheritance tax (IHT) bill for your loved ones when you pass away. On 6 April 2025, the UK government introduced new I....
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New Year, peace of mind: Why a legal health check matters
The New Year is often a time for fresh starts - from fitness goals to lifestyle resolutions. But while many of us focus on health and habits, it’s also the perfect moment to review your legal affairs. At Attwaters Solicitors, we encourage families to begin 2026 with a legal health check - a simpl....
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Personal injury trusts: winning damages doesn’t mean losing benefits
A car accident, a medical negligence case, a crime: they can all result in substantial financial damages. Personal injury payouts can make a massive difference to someone’s life, but they can also impact their eligibility for means-tested state benefits. A personal injury trust enables people ....
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Advance care planning: Helping you prepare for the future
Over the last two decades, the number of people aged 90 or over in the UK has more than doubled, according to figures from the ONS. While it’s encouraging that life expectancy continues to rise, longer lives often bring the challenge of planning for future care needs. Unfortunately, the cost and ....
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The role of trusts in inheritance tax planning
Few taxes spark as much debate as inheritance tax (IHT). Many see it as an unfair ‘double tax’ on assets already taxed during a person’s lifetime. Others are often surprised to find themselves caught by it at all. A survey earlier this year suggested seven in ten UK adults don’t understand ....
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Navigating UK Trusts: A valuable tool in family planning
Trusts were first used in England almost 800 years ago, when knights leaving for the Crusades handed their land to trusted friends to manage in their absence. The idea has stood the test of time, because it remains one of the most effective ways to protect and pass on assets. However, the rules ar....
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New pension inheritance rules: what does it mean for estate and tax planning
You’ve written a will, established a trust and agreed a drawdown strategy. Lifetime estate planning can be ticked off your to do list, right? Legislative changes and market shifts mean that lifetime estate planning will never be a tick in the box activity. It needs to be revisited regularly es....
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The risks of not having an LPA – a case study
At Attwaters Solicitors, we regularly advise clients on the importance of preparing for the unexpected, particularly when co-owning a property. One of the most important steps you can take is putting an appropriate Lasting Power of Attorney (LPA) in place. To highlight just how critical this can be....
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John le Carré’s legacy and the benefits of tax-efficient planning
The Times recently reported that John le Carré’s children have offset their Inheritance Tax bill by donating their late father’s literary archive, valued at £1.5 million, to the University of Oxford’s Bodleian Library. At Attwaters, we believe this is a prime example of the advantages of ef....
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Making gifts as an attorney or deputy
Gift-giving is a common estate planning that can reduce the value of an estate for Inheritance Tax (IHT) purposes and ensure assets are used according to the donor's wishes during their lifetime. However, gift-giving needs to be carefully planned and dealt with cautiously. If you are an attorney or....
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How to make use of Taper Relief for Inheritance Tax
As well as being the UK’s least popular tax, Inheritance Tax (IHT) is known by many as a thicket of exemptions and complexities. Anyone who has ever been involved in estate planning will know that navigating tax-free allowances, IHT exemptions and lifetime gifting rules is not simple. This post d....
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The importance of trusts in wills
We understand that it can feel overwhelming putting your affairs in order. There are many factors to consider when making a will, so it can be tempting to disregard using trusts due to the common assumption that they are complex. However, they are a valuable way of managing your assets that should ....
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How changes to Inheritance Tax reliefs could impact you
October saw one of the most anticipated Budgets that many of our clients have faced in recent years, with much speculation on the future of Inheritance Tax (IHT). And, as expected, Chancellor Rachel Reeves did indeed announce changes to both Business Property Relief (BPR) and Agricultural Proper....
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Anne Robinson provides a lesson in estate planning
The news that Anne Robinson has given away her £50 million fortune to avoid paying inheritance tax has recently caused a splash around the media. But can gifting your fortune really keep the taxman away? And what does the story tell us about the importance of estate planning? Inheritance....
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Could the end of Inheritance Tax be imminent?
Inheritance Tax (IHT) is a tax levied on the estates of people who have died, normally at a rate of 40%. Whilst just one in 20 estates are subject to IHT, this number actually used to be far lower. The threshold for the tax has been frozen at £325,000 since the 2009/10 financial year; in the subse....
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Business owners: don’t forget about succession planning
According to a study conducted last year by the Institute for Corporate Productivity, 44.4% of businesses had no formal approach to succession planning, while 10% performed no succession planning whatsoever. Even the largest companies struggle; research suggests that two thirds (68%) of all FTSE 10....
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