Inheritance Tax
March 2026 Newsletter
As we approach the end of the 2025/26 tax year and prepare for the start of 2026/27 on 6 April, March is a critical planning month for business owners, landlords and individuals. Alongside the Spring statement delivered on 3 March, several structural changes to tax administration and employment costs are coming into effect. Digital reporting,…
Read MoreWhat the Budget Could Mean for Your Money: Six Big Tax and Finance Changes to Watch
Income tax, pensions, property, ISAs and more – here’s what to expect from the Budget and how you can prepare. Chancellor Rachel Reeves has set the stage for significant tax and spending changes in her autumn Budget on 26 November 2025. Millions of homeowners, savers, and pensioners could be affected. With two weeks to go…
Read MoreNovember 2025 Newsletter
We’re pleased to share the November 2025 edition of the Mercian Accountants Newsletter. With the Autumn Budget set for 26 November, attention is turning to how the Chancellor will balance the public finances while maintaining her pledge not to raise Income Tax, VAT, or National Insurance. As we mark Remembrance Sunday, we also take a…
Read MoreAngela Rayner’s £40,000 SDLT Error – and How You Can Avoid It
The recent headlines about Angela Rayner’s property purchase may have caught your attention. While the political story has dominated coverage, the more important takeaway for most people is that Stamp Duty Land Tax (SDLT) is rarely straightforward. Where trusts or complex family arrangements are involved, the rules can be particularly difficult to navigate. What appears…
Read MoreAugust 2025 Newsletter
As summer moves into its final stretch, now is an opportune moment to take stock of the latest tax developments and legislative updates. In the August edition of the Mercian Accountants newsletter, we unpack the key announcements from Legislation Day 2025, including measures aimed at closing the tax gap, proposed changes to inheritance tax reliefs,…
Read MoreFour Taxes on Pension Death Benefits
Do you know what will happen to your pension pot when you pass away? Understanding the tax rules as a pension holder is crucial for your beneficiaries (those who will inherit). There are four different types of taxes that can apply to pension death benefits: If you’re looking for help with your pension and later-life…
Read MoreNew Increase to Statutory Legacy on Intestacy
From July 26th (2023), the government has confirmed an increase to the Statutory Legacy on intestacy, from £270,000 to £322,000 (fixed net sum). When someone who has children passes away without a Will (otherwise known as “intestate”), this is the value of personal possessions that the surviving spouse or civil partner is entitled to first,…
Read MoreInheritance Tax: Safeguarding Your Family’s Financial Future As Receipts Reach New Record
Inheritance tax (IHT) receipts have hit an all-time high in the previous financial year, suggesting that the tax has become a “mainstream tax on ordinary people.” According to new data from HMRC, the total take for 2022-2023 reached £7.1 billion, surpassing the previous record of £6.1 billion set last year by £1 billion. The tax…
Read MoreSave Inheritance Tax with Business Property Relief (BPR)
Have you considered Business Property Relief (BPR) in your Inheritance Tax (IHT) planning? BPR allows you to claim IHT relief of either 50% or 100% on the value of your business or its assets, including qualifying shares. These can be passed on either while you’re alive, or as part of your Will. In this article,…
Read MoreInheritance Tax (IHT) Receipts by HMRC Up 18% Since 2022
HMRC has released data that Inheritance Tax (IHT) receipts have increased by 18% in January 2023, compared to the financial year prior – currently, receipts are at £5.9 billion, which is £900 million higher than last year. This increase has been driven by HMRC targeting high-value estates, the increase in house prices from 2020-2022, and…
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