An Introductory Guide to Tax Planning & the Family Home - Key IHT Strategies & Pitfalls

Introduction

The family home is often a client’s most valuable asset, yet it can be one of the most difficult assets to use effectively in inheritance tax planning. With tax thresholds frozen and most unused pension funds coming into the estate from April 2027, the treatment of the home remains a key issue for practitioners advising clients on lifetime planning.

This webinar provides a practical guide to the options available, as well as the rules that can undermine them. It examines the inheritance tax treatment of the family home, including the residence nil rate band, and considers the requirements and risks involved in gifting or sharing the property. It also looks at trusts, gift and leaseback arrangements, reversionary leases and the pre-owned assets tax rules.

Finally, the webinar will revisit older planning arrangements that may still appear in client files, explaining their current status and the issues practitioners should consider when reviewing them. By the end of the webinar, you will have a clearer understanding of which strategies may work, where the pitfalls lie and what to look for when advising clients.

What You Will Learn

The webinar will cover the following:

• The IHT treatment of the family home and how to maximise the residence nil rate band
• Outright gifts and the gift with reservation of benefit rules
• Sharing arrangements and the key issues to consider
• Gift and leaseback arrangements, including the requirement to pay full market rent
• Reversionary leases and the use of trusts
• Pre-owned assets tax, when it applies and how elections work
• Reviewing older planning schemes and understanding their current status
• Care fees, deprivation of assets and issues surrounding the protection of the family home