Course outline

Huge reforms to inheritance tax (IHT) are due to come into force in 2026 and 2027, including bringing pensions within the scope of IHT and introducing new limits on Business Property Relief (BPR) and Agricultural Property Relief (APR). These changes will have major implications for will drafting and for personal representatives (PRs) administering estates, as well as for the firms acting for them. The increased IHT charges will have a substantial impact not only on estate planning, succession structuring and the advice provided by private client practitioners, but also on probate practice.

This in-depth, practical session will:

• Guide delegates through the new rules, explaining their interaction with existing planning structures.
• Illustrate planning opportunities to maximise IHT savings, while also considering asset protection, using practical examples of options and key risk areas.
• BPR/APR: maximising the £2.5m 100% allowance and lifetime gifts – outright or in trust.
• The transferability of the £2.5m allowance to spouses: when not to rely on it and how to maximise it in will drafting and post-death variations.
• Pensions: the value of the concessions allowing PRs to direct pension administrators to retain 50% of pensions and how certificates of discharge can protect firms and PRs if any late pensions are discovered.
• Probate practice: key steps needed to gear up for the new IHT charge to protect probate work and help mitigate risk, including PI cover considerations

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Feedback from John Bunker’s previous session

• Engaging and thoroughly enjoyable. So much detail and easy to follow content
• Excellent and engaging delivery. Speaker incredibly knowledgeable in subject areas.
• Informative and engaging. Good notes to go with presentation.
• The unparalleled experience and good presentation skills of John Bunker.

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Venue

Stevens & Bolton LLP, Wey House, Farnham Rd, Guildford GU1 4YD

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Speaker

John Bunker

John Bunker is a freelance lecturer and a consultant Solicitor and Chartered Tax Adviser with Irwin Mitchell; co-editor of the Law Society’s IHT Planning handbook (Dec 2020) of which he wrote one third (alongside 14 colleagues in IM), John is known to many through his lecturing on estates, tax and trusts in person and online.

He is one of the professional representatives advising HMRC on the guidance in their TRS Manual, as part of the TRS sub-group of the Capital Taxes Liaison Group and was, until Sept 2021, Chair of the CIOT Private Client (UK) Committee; he also represented STEP on the Probate Users Group with HMCTS until November 2021.