Riforma degli sgravi dell'imposta di successione: È il momento giusto per istituire un trust? 

At the Autumn Budget 2024, the government announced their intention to restrict ‘the generosity of agricultural proprietà relief and business property relief’. Despite public uproar, it appears that the government volontà proceed with reforms from April 2026 that will expose numerous estates to aggiuntivo Inheritance Tax. 

Currently it is possible to claim 100% business property relief (BPR) on qualifying business property, trading business and shares in an unquoted company, including shares listed on the Alternative Investment Market (AIM companies), 50% business property relief is available on a majority shareholding in a listed company and land used in a business and 100% agricultural property relief (APR) can be claimed on land occupied for the purposes of agriculture, together with appropriate buildings and farmhouses. This leaves most trading businesses, unquoted investments and farms fully exempt from Inheritance Tax. 

Modifiche proposte 

Il tasso di 100% per le azioni designate come “non quotate” sui mercati di una borsa valori riconosciuta, come l'AIM, sarà ridotto a 50%. 

All other assets which qualify for the 100% rate of relief will continue to do so but the relief will be capped at the first £1 million of combined agricultural and business assets and will be reduced to 50% thereafter. Following protests by farmers, there have been some rumours that the government is considering  increasing the cap to £5 million so that smaller businesses and farms would not be subject to Inheritance Tax but no changes to the proposals have been announced. 

L'opzione di pagare l'imposta di successione con rate annuali uguali nell'arco di 10 anni sarà estesa a tutte le proprietà qualificate che possono beneficiare dello sgravio per la proprietà agricola o per la proprietà aziendale, indipendentemente dall'aliquota di sgravio applicabile. 

Che effetto avrà sul mio patrimonio? 

Attualmente, se avete beni che si qualificano per lo sgravio dell'aliquota 100%, a seconda dell'entità degli altri beni, la vostra successione potrebbe non dover pagare alcuna imposta di successione. 

Ad esempio, un'eredità composta dai seguenti beni: 

• 1,5 milioni di sterline di attività commerciali qualificate 

• 300.000 sterline di azioni non quotate 

• 200.000 sterline di altre attività 

Non sarà soggetta all'imposta di successione in quanto l'attività commerciale qualificata e le azioni non quotate in borsa sono coperte dal 100% BPR e il valore degli altri beni è inferiore alla soglia della banda zero. 

A partire dal 6 aprile 2026, gli stessi beni aziendali non saranno coperti completamente dal Business Relief e l'imposta di successione sarà calcolata come segue: 

• Attività commerciale: £ 1.500.000 - (meno) £ 1 milione di franchigia (sgravio 100%) = £ 500.000 x 50% (sgravio) = £ 250.000 
• Azioni non quotate: 50% di £ 300.000 = £ 150.000 
• Valore imponibile dell'eredità: attività commerciale £250.000 + azioni non quotate £150.000 + altri beni £250.000 = Totale £650.000 
• Imposta di successione dovuta su: Patrimonio imponibile £650.000 - (meno) fascia zero (£325.000) = Totale £325.000 
• 40% di 325.000 sterline = 130.000 sterline di imposta di successione totale dovuta. 

Trust 

Setting up a trust to hold qualifying business and agricultural assets is one solution to minimise exposure to inheritance tax. Whereas putting other assets into a trust may attract an Inheritance Tax entry charge at 20% this does not apply to qualifying business and agricultural assets that continue to benefit from 100% BPR/APR. Any capital gains tax liability due in respect of the transfer of the assts into the trust can be deferred until the assets are sold. 

Any trusts set up before 30 October 2024 benefited from unlimited 100% relief if these held qualifying BPR/APR assets on creation and continue to receive unlimited 100% relief on exit charges until on or after 6 April 2026, after which the new rules and the £1 million cap will apply. This means that some trusts will become liable to Inheritance Tax every 10 years at a maximum rate of 6%. If any trustees are considering distributing qualifying assets, this should be done before 6 April 2026  to take advantage of uncapped BPR/APR. 

However, the changes do not mean that trusts will cease to be  a beneficial tool in reducing Inheritance Tax after April 2026. Any trusts created before 6 April 2026 remain benefiting from the uncapped BPR/APR (provided that person who created the trust survives for 7 years) and will have their own £1 million allowance that renews every 10 years. Such trusts will be liable to exit and 10-year anniversary charges, at a reduced rate of maximum 6% compared to 40% payable on death. 

Consequently, estates and trusts that include qualifying business or agricultural assets now require careful consideration. Many estates and trusts that currently have no Inheritance Tax liability, may be brought into the scope of inheritance tax from April 2026. If you are concerned and wish to discuss what you can do to minimise your exposure to Inheritance Tax, our Clienti privati department is happy to help you.