The introduction of defined BR allowances, and the possibility of pensions being included from 2027, is reshaping advice conversations. Individuals can now benefit from up to £2.5 million of assets qualifying for 100% Business Relief, with any qualifying amount above that receiving 50% relief.
Importantly, this allowance is transferable between spouses and civil partners, allowing up to £5 million to be sheltered at full relief. This brings BR more in line with familiar allowances like the nil-rate band and ISAs, giving advisers a clearer framework for estate planning.
At Tax-Efficient Investment (TEI) Magazine, we spoke to a range of experts to gather their initial reactions to these changes.