Now that the tax year has drawn to a close, Diana French, Retail Strategy Director at Triple Point, explores how the Autumn Budget has influenced adviser conversations and estate planning strategies.
“Significant changes announced in the Autumn Budget have placed estate and tax planning firmly in the spotlight and from April 2027, unused pension assets will be brought within the scope of inheritance tax (IHT). Meanwhile, the continuing freeze of the nil-rate band at £325,000 – against a backdrop of rising house prices – means that more estates than ever will be drawn into the IHT net. These developments highlight the importance of proactive financial planning, making conversations with individuals and families about their legacies more critical than ever.
“A recent survey conducted by Triple Point and Research in Finance* found that 90% of advisers believe more clients now require IHT planning following the Budget, while 93% say it has directly impacted the advice they provide. With intermediaries looking to providers to communicate these changes, provide educational content on the impact, and offer solutions, it is crucial for the industry to step up and support advisers in helping their clients navigate these challenges.
“Demand for tax-efficient investment solutions continues to grow, despite the increasingly complex tax landscape facing advisers and investors. We have seen strong fundraising in our Triple Point Venture VCT and Triple Point Estate Planning Service. This points to an encouraging trend of investors seeking solutions with tax advantages, which also support long-term economic growth.
“Investments into business which are expected to qualify for Business Relief play a crucial role in this landscape, providing patient capital to UK businesses, supporting job creation, innovation, and infrastructure development. This aligns with the UK’s broader economic growth agenda, ensuring that capital flows directly into sectors that are vital for long-term prosperity. Beyond tax efficiency, Business Relief offers investors a way to channel capital into purposeful initiatives that deliver tangible benefits to UK communities. Examples include:
- Providing crucial funding for SMEs to scale
- Supporting residential developments to help address the UK’s housing crisis
- Investing in essential infrastructure – such as renewable energy and healthcare services – that underpin a strong and sustainable economy
“The recent Spring Statement reinforced the growing importance of estate planning, with the Office for Budget Responsibility (OBR) increasing its forecasts for IHT receipts.
“As these tax changes continue to take effect, it is more important than ever for advisers to proactively engage with their clients about legacy planning, ensuring they are aware of the options open to them, allowing them to make informed decisions in an ever-shifting financial landscape.”
*Survey conducted in January 2025 with over 200 UK-based advisers and paraplanners.
