With HM Revenue & Customs reporting record Inheritance Tax (IHT) receipts of around £7.5 billion in 2022-23, business-owning families are facing unprecedented tax pressures.

You've likely built significant wealth through your SME, but without early action, many families encounter unexpected bills and disputes during succession. This is particularly true with new relief caps set to arrive in 2026, making proactive planning more crucial than ever.

At Price Mann, we see this not as a burden, but as an opportunity to turn challenges into genuine peace of mind. We provide human-centred advice that respects your family values and supports the preservation of your multi-generational wealth across generations.

Unlocking Opportunities in Inheritance Tax Planning in the UK

1. Review your current allowances now to prepare for the 2026 relief caps. This helps you avoid the standard 40% rate on value above available thresholds, giving you vital time to restructure ownership and reduce future exposure.
2. Integrate business succession planning with comprehensive tax strategies to safeguard your practice or property assets across generations. This ensures that the next family members inherit a stable operation rather than an unexpected tax burden.
3. Explore gifting and trust options that align with your family traditions while optimising your family's protection. This allows wealth to transfer smoothly, avoiding unnecessary friction or family tension.
4. Plan your probate services early to streamline administration and reduce delays. This is especially crucial for complex estates that include overseas links or multiple properties, ultimately saving your loved ones both time and stress.
5. Stress-test your assumptions against actual rules, including the £1 million couple allowance and taper thresholds. This helps you understand exactly where your estate stands and what adjustments will deliver the best possible outcome.
6. Work with IHT specialists who combine deep technical expertise with CILEx regulated probate services for sensitive family matters. They create solutions that honour both the financial numbers and the personal stories behind them.
7. Begin early audit of pension holdings across the estate planning as from April 2027, pension pots form part of the total estate for IHT.



According to the HM Revenue & Customs Inheritance Tax Statistics Commentary from July 2024, taking proactive steps makes a real difference for families across London and Hertfordshire who act before thresholds tighten further.

For example, a second-generation family in Barnet, running a thriving childcare business, recently utilised our taxation and estate planning services. We helped them model future exposures, establish robust structures, and ultimately protected their multi-generational wealth while keeping family harmony intact.

We also coordinated probate services for this family, ensuring all valuations were handled smoothly and transparency was maintained throughout the entire process for everyone involved.

Ultimately, these proactive steps deliver invaluable clarity and confidence for your legacy. They effectively transform what often feels like a heavy, complex topic into a clear path forward that supports both growth and lasting protection.

Ready to Protect Your Future?

Early action empowers you to pass on wealth with confidence. Speak to a specialist today and start building your tailored plan.