CPD Course

COURSE: Tax planning After the 2021 Budget – Anticipating CGT & IHT Changes, Considering the Impact on Wills, Variations of Estates / Trusts & Lifetime Giving Speaker: John Bunker, Irwin Mitchell

Course ref
Wednesday, 10th November, 2021
14:00 - 17:00
The Mandolay Hotel, Guildford View Map
£105 to Members; £210 to Non-Members

Will the Budget on 3 March simply address expenditure needs or deal with the tough tax choices needed?! There may be a second Budget in 2021, when we are clearer how the vaccinations are going, and how much British society can move on to some form of “new normal”, or the big tax changes may come in 2022. Whenever it comes, capital taxes are likely to be up for review. This course will take stock of any changes there have been, and anticipate possible further changes, with reference to:-

  • The Office of Tax Simplification (OTS) issued its first report on CGT in November 2020, which repeated its proposal (in their July 2019 IHT report) to end the CGT “uplift” on death where there is a full spouse exemption or 100% APR or BPR. If this is brought in, there will be great re-thinking needed of wills, and plenty of scope for variations to use CGT uplift where you need to.
  • The OTS proposals for business also include their “trading threshold” increase, which would affect many businesses that have some investment income alongside their trading. We can see what is possible on this.
  • Finally the OTS made proposals for changes to lifetime IHT exemptions, for reduction of the CGT annual exemption and an increase of CGT rates to bring more into line with income tax. What should we advise clients? We will reflect on any developments in capital taxation. We may then be able to explore further some of the IHT planning ideas in the Law Society’s new IHT Planning Handbook, co-edited by John Bunker and one third written by John (the rest by 14 colleagues at Irwin Mitchell), published in December 2020.


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This course is kindly sponsored by HFS Milbourne

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About the Speaker

John Bunker

John D. Bunker LL.B CTA TEP is a freelance lecturer and Consultant solicitor and Chartered tax adviser in Tax Trusts and Estates at Irwin Mitchell. He is Editor of the Law Society’s IHT Planning Handbook published in Dec 2020 of which he wrote one third. He has just completed 3 ½ years as Chair of the Chartered Institute of Taxation’s Private Client (UK) Sub-committee, having been a Chartered Tax Adviser for over 25 years. He has over 30 years of experience as a solicitor specialising in wills, trusts, estate and tax planning and for some 15 years was responsible for his firm’s then in house will precedents. He serves on HMRC’s Capital Taxes Liaison Group and TRS sub-group.

John moved in 2012 to his technical development / know-how role, originally for Thomas Eggar, after 23 years as partner, now working with a 100+ strong IM team. John has developed external training work, in a freelance capacity, and brings his enthusiasm for his subject, where he seeks to illuminate technical details with practical insight, to training for MBL, Professional Conferences, individual firms, local law societies, and branches of STEP, CIOT, SFE and other professional groups.