From 2026, thousands of business owners will face an unexpected problem: inheritance tax on assets they thought were protected. Now is the time to help your clients act – protecting their legacy today, while creating opportunities for deeper, long-term planning tomorrow.
Why this matters
From April 2026, only the first £1 million of business assets will qualify for Business Relief. A year later, pensions will also become subject to inheritance tax.
Even if a client’s wealth remains unchanged, these rule changes could more than triple their inheritance-tax bill. The example below shows how a typical business owner’s liability could rise from £1.39 million to £4.2 million, purely due to legislation — not lifestyle.
The tax landscape is evolving fast, and the impact on successful clients could be significant.
In this short video, Robert Caplan outlines how First Wealth Private Office is helping clients take control through clear, evidence-led planning that delivers confidence, peace of mind, and a legacy that lasts.
But inheritance tax is just the beginning.
Our work reflects the Private Office philosophy – integrating financial, tax, and estate planning to deliver joined-up solutions for clients with complex lives.
Sometimes the clearest way to understand the problem is to see it. The danger isn’t only the tax bill. It’s the illiquid nature of the wealth – how do heirs pay a £4 million liability when the assets are locked inside the business?
The solution:
The first step is liquidity.
A tailored life-insurance policy can create the cash required to meet future liabilities, ensuring that when the time comes, your client’s family or trustees can pay the tax bill without selling part of the business.
It’s not product-driven; it’s part of a wider, evidence-based planning strategy that blends short-term liquidity with long-term structure. From there, FWPO works with the client’s existing advisers to design a complete framework: Family Investment Companies, trusts, succession planning, and governance for future generations.
*Premiums are indicative, based on standard rates, and are subject to application and underwriting. They are offered only for general informational and educational purposes. They are not offered as and do not constitute financial advice. You should not act or rely on any information contained without first seeking advice from a professional. This article is for general information only and is aimed at First Wealth partners.
Working with us gives you more ways to add value for your clients while generating new revenue and strengthening long-term relationships – a win win for all parties.
Speak to adviser
By helping clients navigate complex tax and planning changes, you strengthen their trust and loyalty – making it less likely they’ll look elsewhere for advice.
Our partnership can uncover new advisory opportunities, from succession planning to trust structures, creating additional billable work for your firm.
This timely topic offers a natural reason to reconnect with dormant clients and re-engage them in meaningful planning conversations.
Collaborating with our wealth management team opens the door to mutual referrals – broadening both your client base and service offering.
We provide ready-made content, insights, and events you can share with clients, positioning you as proactive and well-informed.
Inheritance tax is just the starting point, leading to follow-on work in areas such as trusts, FICs, wills, LPAs, shareholder reviews, and next-gen engagements that drive further referral fees.
By helping clients navigate complex tax and planning changes, you strengthen their trust and loyalty – making it less likely they’ll look elsewhere for advice.
Our partnership can uncover new advisory opportunities, from succession planning to trust structures, creating additional billable work for your firm.
This timely topic offers a natural reason to reconnect with dormant clients and re-engage them in meaningful planning conversations.
Collaborating with our wealth management team opens the door to mutual referrals – broadening both your client base and service offering.
We provide ready-made content, insights, and events you can share with clients, positioning you as proactive and well-informed.
Inheritance tax is just the starting point, leading to follow-on work in areas such as trusts, FICs, wills, LPAs, shareholder reviews, and next-gen engagements that drive further referral fees.
In this short video, Humaira Chowdhury explains how our Inheritance Tax Planning Process helps clients address a pressing issue, then naturally progresses toward comprehensive financial planning.
Our approach is:
“The team at First Wealth including Rob Caplan and Humaira Chowdhury have developed one of the best solutions we have seen on the market for supporting HNWs, families and entrepreneurs with a full solution for all their needs including tax and estate planning.”
Start the conversation with one focused issue – inheritance tax. From there, we’ll help uncover broader opportunities for your clients’ full financial, tax, and estate plans. Every introduction begins with a single need.
Our goal is a joined-up, lifetime plan that complements your expertise and helps your clients achieve more.
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