What do UK residents need to know about Inheritance Tax changes for offshore trusts? - Grunberg & Co

What do UK residents need to know about Inheritance Tax changes for offshore trusts? - Grunberg & Co

By James Thomson ATT CTA, Tax Manager at Grunberg & Co. The UK taxation of offshore trusts is set for reform, with changes to take effect from 6 April 2025. While much of the detail remains in draft form, these proposals mark a substantial change, particularly in how Inheritance Tax (IHT) applies to trusts with UK resident beneficiaries. In this article, we will focus on the key IHT changes affecting offshore trusts, who will be impacted, and wh…

Pierce: Navigating Inheritance Tax: An Insight on Business Implications and Relief Opportunities | Member News - East Lancashire Chamber of Commerce

Pierce: Navigating Inheritance Tax: An Insight on Business Implications and Relief Opportunities What is Inheritance Tax? Inheritance Tax (IHT) is a tax imposed on the estate of a deceased person. It is levied on the value of the estate before it is distributed to the heirs and paid by the estate prior to any of the assets being distributed. Assets can include cash, investments, equipment, and real estate. The current tax-free allowance on inher…

An unexpected boost from the government. Since February 15, 2025, it is possible to receive up to €605,000 in family donations without paying any donation fees, according to BFMTV. This new tax system aims to boost the purchase in the new one and support the energy renovation, provided you check the right boxes. Heritage: who can benefit from the tax exemption in 2025? The 2025 Finance Act, which was finally adopted on February 6, opens the way …

The transmission of wealth is a major issue for many families. Recently, discussions have emerged around a possible increase in tax reductions and a revision of the scale for the progressive calculation of inheritance duties. Some refer to an inevitable reform while others denounce an exaggeration of the facts. Faced with these uncertainties, it is crucial to understand what is really envisaged and what would be the consequences of it. Let us ex…