UK Inheritance Tax Tweaks May Harm Family Businesses, Group Says

The UK’s reduction of inheritance tax relief could threaten the future of multigenerational businesses, a UK accountancy body warned Wednesday.

The government’s plans to cap inheritance tax reliefs starting April 2026 would particularly affect elderly business owners and farmers in poor health or those who are terminally ill, the Institute of Chartered Accountants in England and Wales said in response to a consultation that ended in late April.

“There is a risk that these groups may lack the testamentary capacity to take action,” ICAEW said in its response sent to His Majesty’s ...