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Advanced Inheritance Tax Planning for UK Business Owners (Post-2024 Reforms)
This self-paced online course provides experienced accountants with in-depth knowledge of advanced inheritance tax (IHT) planning strategies, tailored to owner-managed businesses with annual turnover up to £10 million. The curriculum aligns with ICAEW, ACCA, and CIOT professional standards, ensuring content is relevant for chartered accountants and tax advisers at an advanced level. Participants will explore the latest legislative changes under the new Labour government (2024/25), learn sophisticated tax mitigation techniques (e.g. Business Property Relief, trusts, succession planning), and engage with financial modeling case studies to quantify the impact of IHT reforms on business estates. Practical application is emphasized throughout, equipping accountants with actionable strategies and expert insights to advise business owners effectively and ethically on preserving wealth and business continuity.
4 modules
16 lessons
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Part 1

Recent Legislative Changes in Inheritance Tax

This section examines the major inheritance tax reforms introduced by the new UK government in 2024/25, detailing what changed, when changes take effect, and how they impact business owners. Accountants will understand the new rules on domicile and residency, the overhaul of Business Property Relief, and other relevant provisions, laying the groundwork for updated planning strategies.

  1. 2024 Election and Budget – Policy Overview

    Outlines the political context and announcements that set the stage for IHT reform. Covering the Labour Party’s manifesto commitment to end abuse of offshore trusts for IHT avoidance, and the new government’s first Budget on 30 October 2024 which initiated the biggest changes to inheritance tax since 2006.

  2. Reform of Business Property Relief (BPR) and Agricultural Relief

    Provides an in-depth look at the significant changes to Business Property Relief (BPR) and Agricultural Property Relief slated for 6 April 2026. Explaining the new rules announced in Autumn Budget 2024, the implications for different assets, and planning strategies for clients.

  3. Other IHT Changes – Nil-Rate Bands, Pensions, and Spouse Exemptions

    Covers additional legislative tweaks relevant to inheritance tax planning. Explaining the freezing of nil-rate bands, inclusion of pension assets in IHT, and the implications for spouse or civil partner exemptions.

  4. Non-Domicile Regime Abolition – New Residence-Based IHT

    Explores the change from a domicile-based IHT system to a residence-based system effective 6 April 2025. Discussing implications for non-domiciled individuals in the UK, transitional rules, and implications for international business owners.

Part 2

Practical Applications and Advisory Skills

This final section focuses on the practical application of the course content in a professional advisory context. It emphasizes how accountants can effectively communicate these complex IHT planning concepts to clients and implement solutions.

  1. Continuous Learning and Professional Support

    Concludes the course by pointing to resources and next steps for continual development in inheritance tax planning. Encouraging professionals to stay informed through networks, webinars, expert analyses, and to implement key learnings back at work.

  2. Ethical Considerations and Staying Compliant

    Emphasizes the importance of ethical practice and compliance in advanced tax planning. Discussing the line between tax avoidance and evasion, and the need to align with professional ethics and regulatory standards in inheritance tax planning.

  3. Developing an Actionable IHT Planning Roadmap

    Guides accountants through creating a step-by-step plan for clients to mitigate inheritance tax. Covering data gathering, relief & exposure analysis, option development, recommendation, timeline, and follow-up/review steps for effective planning.

  4. Proactive Client Communication on Tax Changes

    Advising clients on recent IHT changes and the need for action. Offering strategies for client communication, simplifying technical language, using visuals to explain tax impacts, and managing client expectations.

Part 3

Advanced Tax Planning Strategies

In this section, we delve into sophisticated inheritance tax mitigation strategies relevant for business owners, and how to adapt them in light of the legislative changes. Accountants will learn to combine technical knowledge of reliefs with estate planning tools to minimize IHT legally and facilitate smooth succession.

  1. Trusts, Gifts, and Estate Freezing Techniques

    Explores advanced use of trusts and lifetime gifting in inheritance tax planning. Discussing Potentially Exempt Transfers, Chargeable Lifetime Transfers, Discretionary Trusts, and family investment companies as estate-freezing tools.

  2. Optimizing Business Property Relief (BPR) for Business Owners

    Focuses on making the most of Business Property Relief under both current and forthcoming rules. Exploring qualifying conditions, maximizing relief, planning strategies under the new cap, and the importance of maintaining trading status.

  3. Succession Planning and Family Business Continuity

    Concentrates on planning the transfer of business ownership and leadership in a tax-efficient manner. Discussing business succession agreements, wills, cross-option agreements, and family charters to ensure smooth transitions and minimize tax costs.

  4. Balancing Inheritance Tax with Other Taxes and Considerations

    Teaches accountants to adopt a holistic view when advising on inheritance tax strategies, by considering capital gains tax, income tax, and the commercial realities. Covering scenarios like gift vs. hold until death and providing guidance on comparative calculations to optimize tax outcomes.

Part 4

Financial Modeling and Budget Impact

This section puts theory into practice by using financial modeling and case studies to illustrate the impact of inheritance tax changes on business owners’ finances. Accountants will learn how to compute IHT liabilities under different scenarios and visualize how planning strategies alter those outcomes.

  1. Scenario Analysis – Different Ownership and Succession Situations

    Explores scenarios such as single owner vs. joint owners, leaving the business to children vs. selling it or leaving to a third party, and how each affects IHT results. Demonstrating the impact of ownership structures on tax liabilities and inheritance outcomes.

  2. Case Study – Before and After the 2024/26 Reforms

    Analyzes a detailed case study of a business owner’s estate under two regimes: the current rules vs. the new rules. Demonstrates the impact of the reforms on the business’s tax liability, the importance of planning, and how to quantify tax outcomes.

  3. Projecting Cash Flow and Tax Payments

    Shifts focus to the cash flow impact of inheritance tax on a business or estate, and how to plan for it. Demonstrating the installment payment option for IHT, liquidity considerations, and the importance of financial planning to cover tax liabilities.

  4. Integrating IHT Planning into Client Financial Plans

    Demonstrates how to include inheritance tax considerations in the broader financial planning and budgeting for a business owner’s future. Providing guidance on calculating IHT impact, setting aside funds, and formulating actionable recommendations for clients.