With the Inheritance Tax (IHT) Nil Rate Band (NRB) and Residence Nil Rate Band (RNRB) both frozen for more than another 3 years (until April 2026), it’s vital for IHT mitigation for spouses to plan so that they are not wasted. Likewise, reliefs for business and agricultural property (BPR & APR) at 100% are too good to waste, so in this talk we will consider:

Effective will drafting to utilise the NRB & RNRB, as well as any transferable from late spouses estates
Using trusts to avoid losing the RNRB to taper on estates over £2m
Trust options for assets qualifying for BPR & APR and how to adapt to changes
Options for will planning for spouses without descendants or who don’t qualify for RNRB.

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer

Separation and divorce are complex enough with emotions often running high but, in the middle of this, tax must be contemplated and it is difficult. The purpose of this presentation is to explore the tax implications of separation and divorce identifying tax planning issues where possible in the light of recent developments

Overview of UK tax system
Income tax
Capital Gains Tax and the new rules for separating spouses from April 2023
IHT
SDLT & other land taxes

Gill Steel, Solicitor & Director of LawSkills Ltd

With asset values so volatile, and personal circumstances of beneficiaries so variable, estate administration often involves opportunities for IHT mitigation. With the best will in the world, many clients will not have done up-to-date tax planning in their wills, and there is often scope to offer better alternatives to beneficiaries post death. This talk will explore:

Trusts of property: choosing the right form of trust, with the benefit of hindsight, for security and tax mitigation
Utilising loss relief, with some property values now falling (and estimates of 10% losses in value), and what to do with mixed gains and losses
Using Variations of wills to secure better IHT solutions, and some traps to watch

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer

The IHT and CGT treatment of pensions and life policies is generally favourable and offers opportunities for estate planning. However, the tax treatment is complex, and can lead to unforeseen charges, especially with non-standard arrangements. The talk will give an overview of this area of law, with pitfalls to avoid and some planning tips.

Overview of IHT regime for pensions – privileged treatment for pension schemes
Taking benefits and omission to exercise pension rights during lifetime
IHT position on death – death benefits and assignment of pension rights onto trust
Estate planning implications of the Lifetime Allowance
Life policies – IHT treatment
Settlement on trust of life policies

Simon Douglas, Barrister, 5 Stone Buildings

SDLT has become an extremely complex and confusing tax so the aim of this presentation is to highlight the traps for the unwary and help to mitigate the cost of making expensive errors

Classification of property
- Residential
- Non-residential
- Mixed use
- High Value residential property
Rates
No chargeable consideration
Multiple dwellings relief
First Time Buyer’s relief – effect of inheritance from estates or lifetime gifts
Non-resident surcharge
75A FA 2003 – anti-avoidance
The new SDLT provisions from Sept 2022