No further update on IHT reforms in Spring Statement | Today's Wills and Probate

Cautious optimism for households and SMEs while cementing certainty for the construction and defence sector

The Chancellor’s Spring Statement largely aligned with expectations, serving as an economic update rather than a major fiscal event. However, one of the most significant takeaways was the renewed support for the UK construction sector – an industry that has faced persistent challenges in recent months. Alison Smith, Head of Business Services at Duncan & Toplis, said: “The Chancellor’s commitment to revitalising the UK construction sector couldn’…

Pensions reform sorely missed from Spring Statement

This year’s Spring Statement was always expected to be a modest update. Rachel Reeves had previously stated there would only be one fiscal event per year. True to that approach, the Chancellor kept big policy decisions off the table, reserving major announcements for later in the year. The statement, of course, reflected a difficult economic climate – now more than ever the Government must do more to protect the most vulnerable in society and of…

No further update on IHT reforms in Spring Statement | Today's Wills and Probate

The Chancellor’s Spring Statement provided no further update on contentious inheritance tax (IHT) reforms or including the proposed inclusion of pension pots in estates from 2027. The lack of clarity comes despite significant pushback on measures first announced in October’s Budget, particularly the cap on exemptions for business assets and agricultural land from 2026. The impending changes have sparked concern among family business owners and f…