Type Speaker CPD Hours Level
5 UpdateInformation
Accreditation Information
SRA Competency B


Chaired by John Bunker, this live broadcast conference with a panel of leading experts offers a comprehensive update as to the current hot topics in this fast-moving area.

Each session will provide a full opportunity for questions and answers.

Conference Agenda

This live and interactive 5 hour conference will cover the following:

10am-11am: Will Planning for Spouses - To Use or Not to Use NRB, RNRB or both?

John Bunker, Head of Private Client Knowledge Management, Irwin Mitchell

The introduction of RNRB changed the dynamic of this choice and makes the interaction of the two spouse’s estates more complex, especially where the combined estate may be in the range £2m to £5m with the £2m threshold for taper relief a factor.

The use of the NRB Discretionary Trust (‘NRB D/T’) is also a significant planning element for estates that will not qualify for RNRB, as too large or not having descendants.

This session will cover:

  • When should spouses ‘use’ a Nil Rate Band, or Residence NRB, on a first death, rather than simply leaving to a spouse exempt gift?
  • What about the transferable NRB and RNRB, where unused on the death of a previous spouse?
  • How the use of any or all of these allowances can protect a later RNRB or generally save IHT
  • What are the uses of a NRB D/T and how does it work with the main residence?

Morning Break

11:10am-12:10pm: Equine Tax & Estate Planning

Julie Butler, Butler & Co. Chartered Accountants

Many tax advisers and estate planners are of the view that equine tax planning does not impact on their client base.

However, the tax advantages and pitfalls can ‘creep into consideration’ in an unusual array of circumstances.

This session will cover:

  • The purchase of a stud farm - APR, BPR and CGT reliefs post ‘tax day’ - the ‘rollover buyer’
  • Stud farm tax losses, the 11-year rule and the need for a business plan
  • Making the ownership of racehorses and competition horses tax efficient through commercial sponsorship
  • The rise of the ‘happy hacker’ during lockdowns and the commercial opportunities
  • Tax planning around ‘pony paddocks’ - more than just a COVID-19 luxury and consideration of Philips PPR
  • The lure of mixed use SDLT - the need for commercial use

12:10pm-1:10pm: Estate Planning to Avoid the RNRB Taper & Save IHT

John Bunker, Head of Private Client Knowledge Management, Irwin Mitchell

A big issue for clients with estates of £2m- £5m is the loss of RNRB through taper.

This means a 60% marginal tax rate on the first band of capital over the £2m threshold, when RNRB tapers away, so planning to avoid the loss of taper is crucial for many clients.

For those with a double RNRB, this is £140K of extra IHT to be saved.

This session will consider:

  • How the key elements of estate planning - the legal, tax and financial planning - can come together to save IHT
  • How the use of pensions and other assets is a proper concern of lawyers as well as financial planners, and how it can work for RNRB
  • Where the legal solutions of wills and trusts contribute to creative solutions to save IHT for the moderately wealthy, with assets up to £5m

Break for lunch

2-3pm: Current Problems Facing Estate Planning Practitioners

Helen Forster, Director, HTF Legal

This session will run through the current issues that practitioners are finding whilst administering estates, to include:

  • Pre-owned asset tax and home loan schemes
  • The fallout from the Coronavirus amendment to the Wills Act
  • Lifetime trusts and tax

Afternoon break

3.15-4.15pm: Family Investment Companies in Practice

Deborah Clark, Partner, Mills & Reeve LLP

Family Investment Companies (‘FICs’) have been around for over a decade, but how are they working in practice and what is their future? :

This session will look back at how FICs have evolved and will consider their future. :

It will cover:

  • Typical structures
  • Practical issues
  • Making changes
  • Current tax treatment and future changes

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.

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Discounts are available for multiple places. If you have 5 or more people interested in participating in this virtual learning session please email us at information@mblseminars.com for more information.

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