Owen Kenny’s Budget Key Points

Written By Alison Robinson

  • IHT threshold including RNRB Taper threshold of £2 million frozen until 2030, meaning more estates will become liable for IHT. 
This is a Stealth Tax!

  • Pensions that you are leaving to your family will form part of your estate for IHT purposes from April 2027

  • APR and BPR currently receiving 100% relief limited to £1 million from 06.04.2026. Anything over £1 million receives 50% relief.

  • AIM investments now entitled to only 50% IHT relief.

  • No changes in lifetime gifting

  • CGT rates increased to 18% and 24% on all assets immediately

  • SDLT rates for additional properties up from 3% to 5% from 31.10.24.

Just some of the changes which will affect our clients. Now is the time to review your circumstances and Inheritance planning. Get in touch to arrange a meeting with a member of our team. Contact our team at Owen Kenny by calling 01243 532777 or emailing info@owenkenny.co.uk

Abbreviations

IHT – Inheritance Tax

RNRB – Residence Nil Rate Band

APR – Agricultural Property Relief

BPR – Business Property Relief

SDLT – Stamp Duty Land Tax

Autumn 2024

Alison Robinson
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