Employee Ownership Trusts (EOTs) offer business owners a compelling exit strategy where they can transfer controlling interest in their company without paying any capital gains tax (CGT).

Join Leonora Stevens and Mike Hodges as they discuss this increasingly popular exit route, that is beneficial for both owners and employees.

If you're considering an EOT, always seek professional advice tailored to your specific circumstances to navigate the complexities while maximising the benefits.

The inheritance tax landscape for family businesses and agricultural landowners is undergoing its most significant transformation in decades. 

Following the Autumn Budget 2024 announcements regarding changes to Agricultural Property Relief (APR) and Business Property Relief (BPR), the government has released a consultation document addressing the application of these changes to property settled into trusts.

In our latest podcast episode, Leonora Stevens and Mike Hodges discuss:

• The key changes to APR/BPR announced in the Budget,
• Summarise the document’s key points outlined, and
• Discuss the major planning considerations and potential implications for our clients.

Understanding the nuances of these proposed reforms is essential for effective estate planning, particularly for those utilising trusts. 

Also, our Private Wealth team recently won in the prestigious Accountancy Team category at the 2025 WealthBriefing European Awards!

Have you recently acquired a significant amount of money? Sudden wealth can be quite overwhelming. So how can you protect and manage your assets efficiently? Join Leonora Stevens and Mike Hodges as they talk with legal expert Claire Harris, a Partner at Withers, and James Peterson, Managing Director at Rothschild & Co about the essential first steps and long-term strategies for managing a windfall.

From will planning, family communication, global mobility and philanthropy, they discuss the importance of letting the dust settle, choosing the right advisers, and creating a solid foundation.

With major changes on the horizon for non-domiciled individuals, understanding the new tax landscape is essential. This episode dives deep into the upcoming tax reforms, exploring how these changes (effective from April 2025), will reshape the tax landscape for non-doms. 

Hosts Leonora Stevens and Mike Hodges are joined by Alex Britton-Davis, partner at Saffery and a leading expert in UK residency and domicile, who breaks down the move away from the familiar remittance basis to the intricacies of the FIG regime. 

Other key topics include:

The complexities of reporting foreign income,

• The significant reduction in tax exemptions for foreign income and gains,
• The shift from remittance basis to FIG regime,
• Key implications for individuals planning their tax year-end,
• Transitional rules and temporary repatriation benefits explained, and
• Strategies for mitigating tax liabilities before the April deadline.

Family-owned businesses face unique complexities, such as issues related to business structure, family dynamics, and shared ownership. Following Rachel Reeves’ Budget, these businesses now face additional challenges in navigating the changes to inheritance tax (IHT) and Business Property Relief (BPR).

In this episode, Leonora and Mike analyse the specific implications of the Budget changes for family-owned businesses. They also discuss the challenges faced by finance directors in managing cash flow and navigating the complexities of IHT and BPR.

Also, don’t miss the first episode of our Budget coverage, where we explored the broader impact of IHT and capital gains tax (CGT) changes on the agricultural sector and tax planning strategies, and our article on succession planning strategies for family businesses.

With the festive season of goodwill upon us, gift-giving may be higher on the agenda. But do you know how much tax you might owe on your generous gestures?

In this episode, Leonora and Mike explore the tax considerations of gifting, whether it’s cash or assets. They break down the complex rules of capital gains tax (CGT) and inheritance tax (IHT), to help you understand your potential tax liabilities so that you can gift with confidence.

What if the latest tax reforms could change the way you plan for your family's future? Join us as we unravel the implications of Rachel Reeves' recent Budget announcements, where we tackle the significant reforms to inheritance tax, especially the tightened restrictions on Business Property Relief (BPR) and Agricultural Property Relief (APR). With Leonora Stevens and Mike Hodges lending their expertise, we uncover how these changes might usher in hefty tax liabilities, and why farmers and agricultural landowners may need to rethink their financial strategies. 
 
Leonora and Mike also provide insights on how pension changes could reshape your strategy and what the capital gains tax rate hike and changes to Business Asset Disposal Relief (BADR) means for your business’ financial roadmap. Tune in for practical advice and foresight into how these Budget shifts could affect your estate and tax planning strategies.

Selling a business is a major decision that requires careful planning, as it could involve significant financial implications for the seller.

In this episode, Leonora and Mike are joined by Jenny Serridge, a director in our corporate finance team, and Adam Kay, a partner in our transactions tax department. If you're thinking about selling your business, the team provide insights on the entire sale process from both the corporate perspective and the personal tax side, including:

• The importance of pre-sale planning and understanding your valuation at an early stage in the transaction timeline,
• How we can help navigate the complexities of available tax reliefs, such as Business Asset Disposal Relief (BADR) or Investors' Relief, and 
• Practical points to keep in mind – including why fancy dress is never off the table, even when it comes to finalising a deal.

 Please note: this episode was recorded prior to the October Budget, which is due to be announced on 30 October. Please bear this in mind when listening to the episode after this date.

The summer months mark peak wedding season, yet amid the festivities, there are important tax considerations to keep in mind.

In this episode, Leonora Stevens and Mike Hodges delve into the key tax points associated with weddings and civil partnerships, including:

•Gifting rules and how they apply to wedding gifts,
•The tax implications for individuals getting married, and
•The various tax benefits of tying the knot.

Could incorporating your residential property portfolio save you thousands in taxes? Join us for an eye-opening discussion as Leonora Stephens from Bristol and Mike Hodges from Manchester delve into the ins and outs of property incorporation. We tackle why high tax rates on rental profits and capital gains often push property owners toward this strategy and uncover the nuanced benefits like lower corporation tax rates and flexible income distribution. Listen as we break down essential reliefs, such as CGT relief on incorporation, and outline the critical criteria your portfolio must meet to qualify as a business.

But it's not all about taxes. We underscore the necessity of genuine commercial intentions when considering incorporation, highlighting how it can simplify inheritance planning and offer other strategic advantages. We don’t shy away from the complexities either, discussing the potential trade-offs and the meticulous tax modeling required to make this decision worthwhile. With recent CGT rate reductions in mind, we provide timely, practical advice for property business owners. Each scenario is unique, and we encourage you to reach out for personalized guidance to navigate these complex waters. Tune in for a comprehensive guide that could reshape your property investment strategy.