William Morris, associate, John Lamb Hill Oldridge, discusses how protection products are becoming more critical for business owners under new Business Property Relief (BPR) rules.
As part of a client's advice team, professionals have a pivotal responsibility in guiding business owners through the complexities of an evolving tax landscape. With the Government's recently announced changes to BPR, taking effect from 6 April, 2026, families who own and operate businesses face new challenges when passing assets from one generation to the next. BPR has long played a critical role in enabling family businesses to transfer ownership without triggering unaffordable tax bills. As this relief becomes more limited, the risk of a significant inheritance tax (IHT) liability...
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