When someone dies, two clocks start: probate and IHT. The tax is usually due by the end of the sixth month after death, and interest applies after that, often before probate completes. If much of the estate is tied up in property or other illiquid assets, raising cash fast can be stressful and disruptive.

A practical solution is life insurance structured for IHT: it doesn’t reduce the tax due, but it can provide the lump sum to pay it, so your family doesn’t need to sell a home, a long-term investment, or a sentimental asset at the worst possible moment.

From 6 April 2027, most unused pension funds and death benefits will be brought into scope of Inheritance Tax (IHT) and counted in the estate on death. The government has also confirmed that death-in-service benefits will be excluded, and that personal representatives (executors), not pension scheme administrators, will handle any IHT reporting and payment on pension death benefits.

I’m having lots of conversations right now about gifting. Parents and grandparents want to help with the cost of living, school fees, or that first-home deposit, and they also want to keep an eye on inheritance tax (IHT). It’s a balancing act: support the family while they need it, without putting your own future at risk.

I recently made a last-minute decision that I’ll never forget — heading to the final Oasis gig at Heaton Park, Manchester. The ticket wasn’t exactly cheap. Not outrageous, but enough to make me pause and think:

Should I spend the money? Will it be worth it? Should I be sensible and put it towards something else — like finally fixing those jobs around the house that have been on the to-do list for years?

As the UK faces the biggest intergenerational wealth transfer in history, many high-net-worth families are asking the same question:

“How can we pass down wealth without paying unnecessary Inheritance Tax?”

In our first podcast episode, I’m joined by Katie McCann of Lowry Legal and Chris Hopkinson of Sentinel Risk for a lively discussion packed with valuable insights for business owners, professionals, and families navigating the post-Autumn Budget landscape.

 The 2024 Autumn Budget introduced sweeping changes to inheritance tax (IHT) rules for pensions and business property relief (BPR), reshaping how families can pass on wealth to future generations. These reforms demand a fresh look at estate and succession planning to avoid unnecessary tax burdens.