We recently brought together industry experts in a webinar to discuss the upcoming changes to Inheritance Tax (IHT), Business Property Relief (BPR), and pensions.

The discussion highlighted not just the financial and tax implications, but also the importance of collaboration between accountants, financial planners, and lawyers. 

Working together helps clients plan effectively and avoid costly mistakes. Below is a summary of the key points. You can watch the full webinar here:

Watch the Full Webinar ‍

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Panel

• Anthony Villis, Managing Director, First Wealth
  
  
• Ben Rosen, Partner, Quastels
  
  
• Michael Barnett, Partner, Richard Anthony
  

1. Understand the Changes

From April 2026 and 2027, BPR and APR will move from full relief to a 20% tax rate above certain thresholds. Pensions will now form part of the taxable estate. Business owners need to act early, and advisers should guide clients on the impact for their estates and succession plans.

2. Tackle Client Inertia

Many clients delay succession planning. Advisors should prompt clients to act and address uncertainties to protect business value and limit tax risks.

3. Assess Business Value and Risk

Business and property valuations are central to IHT planning. Advisors should help clients review valuations, plan liquidity, and use life cover to manage tax liabilities.

4. Rethink Pension Planning

With pensions now taxable, withdrawal strategies need review. Drawing from pensions sooner can reduce taxes and fit them into broader succession and estate plans.

5. Review Trusts and Wills

Trusts and wills remain critical. Use allowances wisely and settle assets early to lower future taxes and benefit from transitional rules.‍

Collaboration matters

These changes show why collaboration across professional services matters. When accountants, planners, and lawyers collaborate, clients get clear, coordinated advice and better results.

RQ makes collaboration easy by connecting professionals, streamlining referrals, and providing visibility across firms. This enables advisers to guide clients quickly, confidently, and compliantly.

By planning early and working together, clients can protect assets, reduce tax risks, and secure their legacy.