What if the latest tax reforms could change the way you plan for your family's future? Join us as we unravel the implications of Rachel Reeves' recent Budget announcements, where we tackle the significant reforms to inheritance tax, especially the tightened restrictions on Business Property Relief (BPR) and Agricultural Property Relief (APR). With Leonora Stevens and Mike Hodges lending their expertise, we uncover how these changes might usher in hefty tax liabilities, and why farmers and agricultural landowners may need to rethink their financial strategies. 
 
Leonora and Mike also provide insights on how pension changes could reshape your strategy and what the capital gains tax rate hike and changes to Business Asset Disposal Relief (BADR) means for your business’ financial roadmap. Tune in for practical advice and foresight into how these Budget shifts could affect your estate and tax planning strategies.

Selling a business is a major decision that requires careful planning, as it could involve significant financial implications for the seller.

In this episode, Leonora and Mike are joined by Jenny Serridge, a director in our corporate finance team, and Adam Kay, a partner in our transactions tax department. If you're thinking about selling your business, the team provide insights on the entire sale process from both the corporate perspective and the personal tax side, including:

• The importance of pre-sale planning and understanding your valuation at an early stage in the transaction timeline,
• How we can help navigate the complexities of available tax reliefs, such as Business Asset Disposal Relief (BADR) or Investors' Relief, and 
• Practical points to keep in mind – including why fancy dress is never off the table, even when it comes to finalising a deal.

 Please note: this episode was recorded prior to the October Budget, which is due to be announced on 30 October. Please bear this in mind when listening to the episode after this date.

In this podcast, we examine how grandparents can help to fund school fees and note the relevant tax implications. In particular, we explore inheritance tax and what qualifies as a potentially exempt transfer (PET), while also looking at the use of trusts and main things to  consider. We additionally highlight some general top tips.

Leonora Stevens, Mike Hodges and Jason Lane discuss the tax matters when going through a divorce. 

This includes: the type of divorce, the tax year of separation and transferring assets, and other practical considerations.

In our latest podcast, Leonora Stevens, Mike Hodges and Alexandra Britton-Davis discuss the tax matters for those thinking of returning to the UK. 

They highlight: 

• The importance of considering the date of return;
• What to do if you find yourself in a period of cross-over in respect of dual residency; and 
• Clarify the temporary non-resident rules for returning non-doms.

We provide guidance and tips on planning for the new financial year from 6 April. There has been a lot of economic turbulence and multiple tax announcements over the last six months, so we provide clarity of the changes from 6 April, and what you can do before these come into place. 

In this episode, Leonora Stevens, Mike Hodges and Alexandra Britton-Davis discuss the tax matters that should be taken into account if you are thinking of moving outside of the UK before the end of the tax year, including practical guidance on losing UK residency status.

In this Private Wealth Podcast, Leonora Stevens, Mike Hodges and Simon Love discuss in greater depth some key tax implications of cryptoassets, including: remuneration from an employer in cryptocurrency, the taxation of non-fungible tokens (NFTs) and losses from cryptoasset investment.

 In our first podcast on cryptoassets, we focus on the fundamentals, including: what they are, the different types of assets/currencies in the market, how they work and why people may invest in them.

In our latest Private Wealth Podcast, Leonora Stevens and Mike Hodges discuss how individuals and families can utilise trusts to pass assets to the next generation.

In this episode, Leonora Stevens and Mike Hodges discuss the various tax implications when gifting assets (excluding property) such as cash and chattels.

In this episode, Leonora Stevens and Mike Hodges discuss the various tax implications when gifting property.

The summer months mark peak wedding season, yet amid the festivities, there are important tax considerations to keep in mind.

In this episode, Leonora Stevens and Mike Hodges delve into the key tax points associated with weddings and civil partnerships, including:

•Gifting rules and how they apply to wedding gifts,
•The tax implications for individuals getting married, and
•The various tax benefits of tying the knot.

We discuss what actions individuals can take prior to the end of the tax year to maximise the use of relevant reliefs and allowances. 

Leonora Stevens and Margi Campbell discuss some of the complications of being a Scottish-resident taxpayer, and how the pandemic may have impacted residency status

In this Private Wealth Podcast, Leonora Stevens and Mike Hodges discuss their top tips for individuals submitting their tax returns.

With much speculation and discussion surrounding inheritance tax (IHT), the OECD have recently published a report on IHT within OECD countries. In our podcast, we discuss the findings and recommendations from this report, delving into the finer details and what they could mean for the future.

Leonora Stevens and Mike Hodges discuss Family Investment companies. How do they work and why do Saffery clients use them?

Could incorporating your residential property portfolio save you thousands in taxes? Join us for an eye-opening discussion as Leonora Stephens from Bristol and Mike Hodges from Manchester delve into the ins and outs of property incorporation. We tackle why high tax rates on rental profits and capital gains often push property owners toward this strategy and uncover the nuanced benefits like lower corporation tax rates and flexible income distribution. Listen as we break down essential reliefs, such as CGT relief on incorporation, and outline the critical criteria your portfolio must meet to qualify as a business.

But it's not all about taxes. We underscore the necessity of genuine commercial intentions when considering incorporation, highlighting how it can simplify inheritance planning and offer other strategic advantages. We don’t shy away from the complexities either, discussing the potential trade-offs and the meticulous tax modeling required to make this decision worthwhile. With recent CGT rate reductions in mind, we provide timely, practical advice for property business owners. Each scenario is unique, and we encourage you to reach out for personalized guidance to navigate these complex waters. Tune in for a comprehensive guide that could reshape your property investment strategy.

Join us as we uncover the issues families are facing when looking to the future and ensuring the legacy of their family estate. With insights from Leonora Stevens, Mike Hodges, and special guest Peter Harker, we'll move beyond the typical tax talk and delve into the practicalities of succession planning. Discover strategies to manage farmland, residential properties, and natural capital projects effectively while preparing heirs to take the reins. This episode is essential listening for anyone looking to preserve family cohesion and ensure the long-term viability of their assets.

Explore how modern estates can thrive in today's ever-evolving landscape, inspired by the diverse ventures seen on "Clarkson's Farm." We discuss the vast opportunities for land diversification, from commercial and residential properties to renewable energy projects. With over 80% of estate owners viewing renewables as key to future diversification, the potential for sustainable management and new funding streams is immense. Learn the importance of professional advice, regular reviews, and clear communication in succession planning, and get our top ten tips for effective planning. Tune in to become well-versed in the intricacies of wealth management and tax advice, ensuring a prosperous future for generations to come.

You can also read our full report on succession planning.

A family office is a formal arrangement that involves a high-net-worth family being supported with a range of services, including legal, tax, accounting and concierge support. Whether or not you need a family office depends entirely on your financial, investment, and personal needs.

In this episode, Leonora and Mike are joined by Alexandra Britton-Davis, a fellow partner at Saffery.

As well as outlining how they’d interact with a family office as external advisers, they answer key questions, including:

·         What is a family office and what services do they provide?

·         Do you need a family office?

·         What are the advantages of having one?

·         How do you set one up?

In this episode, we cover the tax implications and practical considerations involved when purchasing large properties and landed estates.

Leonora and Mike are joined by Elizabeth Hartless, a fellow partner at Saffery.

As well as outlining top tax tips with respect to property renovations, other key areas discussed include:

• Funding and structuring,
• Stamp Duty Land Tax (SDLT),
• VAT considerations,
• The impact on your inheritance tax (IHT) position,
• Employment taxes if taking on any employees, and 
• Non-disclosure agreements.

This episode equips you with the insights needed to make informed decisions about your property/estate purchase.

Please note: this was recorded prior to the Spring Budget on 06 March 2024. The team briefly touch on Multiple Dwellings Relief (MDR), however, the Chancellor announced that this will be abolished on 1 June 2024. Please bear this in mind when listening to the episode.

Additionally, we discuss SDLT (which is applicable in England and Northern Ireland), however for those in Scotland or Wales separate devolved equivalents are applicable and would need to be considered.

In this episode we examine the tax and practical aspects to consider when thinking about retirement.

We discuss the importance of having a plan in place to ensure you are prepared and are able to achieve your personal objectives. Leonora and Mike specifically delve into areas including:

• Pensions,
• Cash and other assets (more information on gifting cash and property is available),
• Removing liquidity from a business,
• Business property relief (BPR), and
• Inheritance tax (IHT).

In this episode, Leonora Stevens and Mike Hodges approach the sensitive topic of death and tax planning, sharing their top tips to give you peace of mind and to help make the planning process as seamless as possible.

In particular, Leonora and Mike discuss:

• The importance of having an up-to-date will in place,
• Inheritance tax (IHT) and estate planning,
• The complications of leaving behind a legacy to charity, and
• Other practical points to consider.

You can also find further information in our article on IHT and estate planning.

In this episode Leonora Stevens and Mike Hodges revisit Family Investment Companies (FICs) and are delighted to be joined by Guy Broadfield, a Senior Associate at Burges Salmon who has a focus on tax and trusts.

We first examined FICs back in 2021 (that episode can be listened to here), but with markets and sectors moving at such rapid pace we delve into this area again, this time discussing:

• Are FICs still as widely used as they were previously? 
• What problems can arise when using this type of structure?
• Common questions we are seeing clients ask in relation to FICs.

We also provide further information on FICs within our article. 

With the festive season of goodwill upon us, gift-giving may be higher on the agenda. But do you know how much tax you might owe on your generous gestures?

In this episode, Leonora and Mike explore the tax considerations of gifting, whether it’s cash or assets. They break down the complex rules of capital gains tax (CGT) and inheritance tax (IHT), to help you understand your potential tax liabilities so that you can gift with confidence.

Have you recently acquired a significant amount of money? Sudden wealth can be quite overwhelming. So how can you protect and manage your assets efficiently? Join Leonora Stevens and Mike Hodges as they talk with legal expert Claire Harris, a Partner at Withers, and James Peterson, Managing Director at Rothschild & Co about the essential first steps and long-term strategies for managing a windfall.

From will planning, family communication, global mobility and philanthropy, they discuss the importance of letting the dust settle, choosing the right advisers, and creating a solid foundation.

With major changes on the horizon for non-domiciled individuals, understanding the new tax landscape is essential. This episode dives deep into the upcoming tax reforms, exploring how these changes (effective from April 2025), will reshape the tax landscape for non-doms. 

Hosts Leonora Stevens and Mike Hodges are joined by Alex Britton-Davis, partner at Saffery and a leading expert in UK residency and domicile, who breaks down the move away from the familiar remittance basis to the intricacies of the FIG regime. 

Other key topics include:

The complexities of reporting foreign income,

• The significant reduction in tax exemptions for foreign income and gains,
• The shift from remittance basis to FIG regime,
• Key implications for individuals planning their tax year-end,
• Transitional rules and temporary repatriation benefits explained, and
• Strategies for mitigating tax liabilities before the April deadline.

Family-owned businesses face unique complexities, such as issues related to business structure, family dynamics, and shared ownership. Following Rachel Reeves’ Budget, these businesses now face additional challenges in navigating the changes to inheritance tax (IHT) and Business Property Relief (BPR).

In this episode, Leonora and Mike analyse the specific implications of the Budget changes for family-owned businesses. They also discuss the challenges faced by finance directors in managing cash flow and navigating the complexities of IHT and BPR.

Also, don’t miss the first episode of our Budget coverage, where we explored the broader impact of IHT and capital gains tax (CGT) changes on the agricultural sector and tax planning strategies, and our article on succession planning strategies for family businesses.

The world of trusts often feels complex, but at its core it's about safeguarding assets for others.

Whether you're considering setting up a trust, have been asked to serve as a trustee, or are evaluating your current arrangements, this discussion offers guidance on finding the right trustee for your specific needs.

Hosts, Leonora Stevens and Mike Hodges, are joined by Philip Radford from our Guernsey and Dubai office, and together they unpack the responsibilities of a trustee, the traits that make a good one, and whether it makes sense to appoint a trustee in the UK or an international finance centre.

From the simplest family arrangements to sophisticated international structures involving multiple asset classes, our experts explore what makes a trustee effective and how to choose the right option for your circumstances.

A seismic shift is looming for pensions - from April 2027, pensions will fall into a person’s chargeable estate for inheritance tax (IHT) purposes. This means any pension pots could be subject to 40% IHT.

For many years pensions were a useful way to reduce IHT liabilities, and while the legislation is pending, the changes from 2027 will mean that pensions will be treated like any other asset – potentially subject to 40% tax.

What planning options remain?

The discipline of having funds locked away until retirement can be valuable and tax advantages are still available. We uncover these and discuss the practical considerations you need to be taking on board.

As you navigate these changes, professional advice tailored to your circumstances is essential – the landscape has shifted, but with proper planning, effective strategies can still be implemented.

Visit our website at www.saffery.com to learn more about how we can help with your private wealth planning, and subscribe on your preferred podcast platform for more expert insights on protecting your family's wealth.

Employee Ownership Trusts (EOTs) offer business owners a compelling exit strategy where they can transfer controlling interest in their company without paying any capital gains tax (CGT).

Join Leonora Stevens and Mike Hodges as they discuss this increasingly popular exit route, that is beneficial for both owners and employees.

If you're considering an EOT, always seek professional advice tailored to your specific circumstances to navigate the complexities while maximising the benefits.

The inheritance tax landscape for family businesses and agricultural landowners is undergoing its most significant transformation in decades. 

Following the Autumn Budget 2024 announcements regarding changes to Agricultural Property Relief (APR) and Business Property Relief (BPR), the government has released a consultation document addressing the application of these changes to property settled into trusts.

In our latest podcast episode, Leonora Stevens and Mike Hodges discuss:

• The key changes to APR/BPR announced in the Budget,
• Summarise the document’s key points outlined, and
• Discuss the major planning considerations and potential implications for our clients.

Understanding the nuances of these proposed reforms is essential for effective estate planning, particularly for those utilising trusts. 

Also, our Private Wealth team recently won in the prestigious Accountancy Team category at the 2025 WealthBriefing European Awards!