Recent commentary from leading private client expert Professor Lesley King highlights a significant shift in HMRC’s approach to Inheritance Tax (IHT).
HMRC has recruited 1,000 additional valuation officers, and investigations into underpaid IHT have increased in the year to April 2025—raising an additional £246 million.
This is not about changing tax rates. It is about increased scrutiny.
What are HMRC looking at?
- Property valuations (especially where values appear understated)
- Lifetime gifts and whether they have been fully disclosed
- Business or agricultural relief claims
- Use of trusts and how assets have been structured
What does this mean in real terms?
- Delays in obtaining probate
- Requests for additional documentation
- Professional valuation costs
- Additional tax, interest, or penalties in some cases
Many issues arise not from deliberate errors—but from incomplete records or outdated planning.
The practical takeaway
Good record-keeping and up-to-date planning are now more important than ever.
You can reduce risk by ensuring:
- Your Will reflects your current circumstances
- Lifetime gifts are clearly recorded
- Property and key assets are sensibly valued
- Trusts are properly documented and administered
How we can help
We work with clients and their professional advisers to ensure that estates are structured clearly and robustly, helping to minimise the risk of complications for your family.
Good planning brings clarity and peace of mind. If you would like to review your current arrangements, we would be very pleased to assist.
An initial meeting is offered without obligation or fee, giving you the opportunity to make informed decisions with confidence.
If this has prompted a thought, we’d be delighted to talk it through with you — contact us here, or ring 079 888 30691 or email kent@lifetimetrustees.com to request a callback..
Disclaimer
Lifetime Trustees Ltd provides estate planning services including Wills and Trusts. We do not provide financial or investment advice. We work closely with independent financial advisers and other professionals where appropriate.