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In this episode, Leonora Stevens and Mike Hodges look at what really happens when HMRC opens an enquiry into your personal tax return.  They discuss: - What HMRC compliance checks actually involve - Why enquiries are triggered - What is the difference between aspect and full reviews - Understand what your rights and responsibilities look like in practice.  They also offer tips to avoid common mistakes and advice on staying organised so you’re prepared if HMRC gets in touch. Whether you’re facing an enquiry now or simply want to understand the process, preparation and good record-keeping are key.  If you have questions about anything discussed or need support with an HMRC enquiry, our team is here to help. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

With a mountain of speculation prior to this year’s Budget, there was considerable concern about potential forthcoming tax changes.  However, it could be said that the announcements made on 26 November were not as monumental as feared. Nonetheless, there was still plenty to dissect so join us in our latest podcast episode where we uncover what was announced by Rachel Reeves and consider how it will impact you.  Leonora Stevens and Mike Hodges discuss: The further freezing of income tax rates,The new tax rates on property, savings and dividend income, Pensions salary sacrifice changes,The new High Value Council Tax surcharge, and The tax relief reduction for Employee Ownership Trusts (EOTs).As mentioned in this podcast, you may find it useful to re-listen to our previous episodes on Family Investment Companies (FICs) and Employee Ownership Trusts (EOTs). Additionally, don’t miss our full Budget analysis which is available on our website. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

Tax season can feel daunting – even for the most organised of taxpayers. While many returns are simple, certain sections quickly become complex, and small mistakes can lead to stress or even penalties. In our latest podcast episode, Leonora Stevens and Mike Hodges explore the trickier parts of a self‑assessment tax return and share practical strategies to help you stay confident and compliant. They explore: Foreign income and gains – navigating double tax relief and exchange rates,Capital gains – property, shares, and even crypto,Pension contributions and reliefs – annual allowance, carry forward, tapered allowances,Gift Aid and charitable donations – timing matters, andOther key reliefs and allowances to be wary of.Whether you’re filing for the first time or refining your approach, this episode gives you practical insights to stay ahead of deadlines and avoid costly mistakes. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

In our latest episode, we explore the increasingly relevant topic of passing on property – whether it’s your main home, a share of it, or a second property – and the tax implications that come with it. Our hosts Leonora Stevens and Mike Hodges discuss: - Why more families are considering property gifts - How rising house prices affect IHT exposure - Key thresholds like the nil-rate and residence nil-rate bands - The challenge of funding IHT when wealth is tied up in bricks and mortar 🎧 Listen now for practical insights and planning tips. Please note, this episode was recorded before the UK’s Autumn Budget 2025. All information reflects the law as it stood in September 2025 and may be subject to change. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

Thinking of retiring abroad? The latest changes to the UK’s non-dom rules might be surprisingly good news for your financial planning. In this eye-opening discussion, our expert panel breaks down how the shift from domicile to residence-based taxation creates new opportunities for those considering an international retirement. Tax partner Alex Britton-Davis joins hosts Leonora Stevens and Mike Hodges to explain the revolutionary change in how inheritance tax will apply to British nationals retiring overseas. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

The world of trusts often feels complex, but at its core it's about safeguarding assets for others. Whether you're considering setting up a trust, have been asked to serve as a trustee, or are evaluating your current arrangements, this discussion offers guidance on finding the right trustee for your specific needs. Hosts, Leonora Stevens and Mike Hodges, are joined by Philip Radford from our Guernsey and Dubai office, and together they unpack the responsibilities of a trustee, the traits that make a good one, and whether it makes sense to appoint a trustee in the UK or an international finance centre. From the simplest family arrangements to sophisticated international structures involving multiple asset classes, our experts explore what makes a trustee effective and how to choose the right option for your circumstances. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

A seismic shift is looming for pensions - from April 2027, pensions will fall into a person’s chargeable estate for inheritance tax (IHT) purposes. This means any pension pots could be subject to 40% IHT. For many years pensions were a useful way to reduce IHT liabilities, and while the legislation is pending, the changes from 2027 will mean that pensions will be treated like any other asset – potentially subject to 40% tax. What planning options remain? The discipline of having funds locked away until retirement can be valuable and tax advantages are still available. We uncover these and discuss the practical considerations you need to be taking on board. As you navigate these changes, professional advice tailored to your circumstances is essential – the landscape has shifted, but with proper planning, effective strategies can still be implemented. Visit our website at www.saffery.com to learn more about how we can help with your private wealth planning, and subscribe on your preferred podcast platform for more expert insights on protecting your family's wealth. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

Employee Ownership Trusts (EOTs) offer business owners a compelling exit strategy where they can transfer controlling interest in their company without paying any capital gains tax (CGT). Join Leonora Stevens and Mike Hodges as they discuss this increasingly popular exit route, that is beneficial for both owners and employees. If you're considering an EOT, always seek professional advice tailored to your specific circumstances to navigate the complexities while maximising the benefits. This episode was recorded in April 2025, but at the 2025 Autumn Budget on 26 November, the Chancellor announced the reduction of CGT relief on EOTs from 100% to 50% of the gain for disposals on or after 26 November 2025 so this should be noted before taking any action. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

The inheritance tax landscape for family businesses and agricultural landowners is undergoing its most significant transformation in decades.  Following the Autumn Budget 2024 announcements regarding changes to Agricultural Property Relief (APR) and Business Property Relief (BPR), the government has released a consultation document addressing the application of these changes to property settled into trusts. In our latest podcast episode, Leonora Stevens and Mike Hodges discuss: The key changes to APR/BPR announced in the Budget,Summarise the document’s key points outlined, andDiscuss the major planning considerations and potential implications for our clients.Understanding the nuances of these proposed reforms is essential for effective estate planning, particularly for those utilising trusts.  Also, our Private Wealth team recently won in the prestigious Accountancy Team category at the 2025 WealthBriefing European Awards! For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

Have you recently acquired a significant amount of money? Sudden wealth can be quite overwhelming. So how can you protect and manage your assets efficiently? Join Leonora Stevens and Mike Hodges as they talk with legal expert Claire Harris, a Partner at Withers, and James Peterson, Managing Director at Rothschild & Co about the essential first steps and long-term strategies for managing a windfall. From will planning, family communication, global mobility and philanthropy, they discuss the importance of letting the dust settle, choosing the right advisers, and creating a solid foundation. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

With major changes on the horizon for non-domiciled individuals, understanding the new tax landscape is essential. This episode dives deep into the upcoming tax reforms, exploring how these changes (effective from April 2025), will reshape the tax landscape for non-doms.  Hosts Leonora Stevens and Mike Hodges are joined by Alex Britton-Davis, partner at Saffery and a leading expert in UK residency and domicile, who breaks down the move away from the familiar remittance basis to the intricacies of the FIG regime.  Other key topics include: The complexities of reporting foreign income, The significant reduction in tax exemptions for foreign income and gains,The shift from remittance basis to FIG regime,Key implications for individuals planning their tax year-end,Transitional rules and temporary repatriation benefits explained, andStrategies for mitigating tax liabilities before the April deadline.For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

Family-owned businesses face unique complexities, such as issues related to business structure, family dynamics, and shared ownership. Following Rachel Reeves’ Budget, these businesses now face additional challenges in navigating the changes to inheritance tax (IHT) and Business Property Relief (BPR). In this episode, Leonora and Mike analyse the specific implications of the Budget changes for family-owned businesses. They also discuss the challenges faced by finance directors in managing cash flow and navigating the complexities of IHT and BPR. Also, don’t miss the first episode of our Budget coverage, where we explored the broader impact of IHT and capital gains tax (CGT) changes on the agricultural sector and tax planning strategies, and our article on succession planning strategies for family businesses. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

With the festive season of goodwill upon us, gift-giving may be higher on the agenda. But do you know how much tax you might owe on your generous gestures? In this episode, Leonora and Mike explore the tax considerations of gifting, whether it’s cash or assets. They break down the complex rules of capital gains tax (CGT) and inheritance tax (IHT), to help you understand your potential tax liabilities so that you can gift with confidence. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

What if the latest tax reforms could change the way you plan for your family's future? Join us as we unravel the implications of Rachel Reeves' recent Budget announcements, where we tackle the significant reforms to inheritance tax, especially the tightened restrictions on Business Property Relief (BPR) and Agricultural Property Relief (APR). With Leonora Stevens and Mike Hodges lending their expertise, we uncover how these changes might usher in hefty tax liabilities, and why farmers and agricultural landowners may need to rethink their financial strategies.    Leonora and Mike also provide insights on how pension changes could reshape your strategy and what the capital gains tax rate hike and changes to Business Asset Disposal Relief (BADR) means for your business’ financial roadmap. Tune in for practical advice and foresight into how these Budget shifts could affect your estate and tax planning strategies. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]

Selling a business is a major decision that requires careful planning, as it could involve significant financial implications for the seller. In this episode, Leonora and Mike are joined by Jenny Serridge, a director in our corporate finance team, and Adam Kay, a partner in our transactions tax department. If you're thinking about selling your business, the team provide insights on the entire sale process from both the corporate perspective and the personal tax side, including: The importance of pre-sale planning and understanding your valuation at an early stage in the transaction timeline,How we can help navigate the complexities of available tax reliefs, such as Business Asset Disposal Relief (BADR) or Investors' Relief, and Practical points to keep in mind – including why fancy dress is never off the table, even when it comes to finalising a deal. Please note: this episode was recorded prior to the October Budget, which is due to be announced on 30 October. Please bear this in mind when listening to the episode after this date. For more Private Wealth podcasts, head to: www.saffery.com/insights/podcasts/ Saffery official website Visit saffery.com Follow Saffery online LinkedIn: https://www.linkedin.com/company/saffery Instagram: https://www.instagram.com/saffery_uk/ Email: [email protected]