Global Tax Coordination - Latest Insights

What was trailed, what was dropped, what was announced and what has happened since? With the benefit of hindsight, the Autumn Budget 2025 now reads less like a single fiscal event and more like a prolonged period of policy signalling, retrenchment and quiet recalibration. In the months leading up to the Budget, a wide range of radical measures were trailed, many of which were ultimately abandoned before Budget Day itself. Others emerged only after the event, including material changes announced just before Christmas that fundamentally altered the inheritance tax landscape for farm and business owners.

An IPO or trade sale is a transformational event in the life of any business owner. It represents the culmination of years of effort, and the beginning of an equally important new phase for you, your family, and your company. Alongside the commercial and operational challenges, ensuring your tax affairs are structured correctly can make a significant difference to the outcome. The right planning can protect value, reduce risk, and provide flexibility for your future. The wrong approach — or leaving things too late — can limit options and create unexpected costs. And today, timing matters more than ever. With major UK tax reforms scheduled from April 2026, the window for certain planning opportunities is closing fast.

Following the Government’s consultation process after the Autumn 2024 Budget announcement, further details, including the draft legislation, have now been published regarding the upcoming reforms to inheritance tax (IHT) reliefs for business and agricultural property.

The Autumn 2024 Budget sent shockwaves through the business and farming communities with the unexpected announcement that Business Relief and Agricultural Relief from inheritance tax (IHT) will be drastically curtailed from April 2026.

Following the Autumn Budget on 30 October the Government have announced a huge restriction to the availability of the UK Inheritance Tax (“IHT”) Reliefs - Business Property Relief (“BPR”) and Agricultural Property Relief (“APR”).

The Autumn Budget 2024 brought several significant changes to the UK tax landscape.

The latest budget contained significant changes for the taxation of trusts and their settlors. The impact comes from the changes to the way in which non-UK domiciled individuals are taxed.

The UK Chancellor's Autumn Budget on 30 October 2024 has ushered in a new era of tax reform under the Labour Government. This budget, a watershed moment, introduces sweeping changes that will impact UK resident, both domiciled and non-domiciled, businesses, property ownership, and trust structures.