TAXATION AND TRUSTS

HMRC has recently produced guidance on how the new long-term residence rules affect inheritance tax (IHT) from 6 April 2025.

Now that advisers have had time to recover from the tax year end rush it’s time to start considering pension planning in 2025/26.  With the potential for tax increases looming in the Autumn Budget, there could be a greater incentive than usual to make contributions sooner rather than later.

In recommendations submitted to the Treasury Select Committee (TSC), the Chartered Insurance Institute (CII) says institutions and individuals must be held accountable for decisions made using AI, and advocates for a ‘skills strategy’ to support the use of AI within financial services.