- The £1m exemption applies to each person. Ensuring Wills leave assets down to the next generation or into trust can be useful to use the £1m 100% relief. If assets are left to your spouse on first death the £1m exemption is lost.
- The new rules apply from 6th April, 2026.
- Lots of options between now and 5th April, 2026 to consider.
- For a detailed analysis and series of working examples, please call Jayne on 01769 308015 or 01271 326762, or email jayne@wardandcoaccountants.co.uk
Clarification of new Inheritance Tax Reliefs and Rules
The £1m exemption applies to each person. Ensuring Wills leave assets down to the next generation or into trust can be useful to use the £1m 100% relief.
Written by
John Ward,
Director 5th November 2024 
