Significant changes to Inheritance Tax (IHT), Capital Gains Tax (CGT) and Business Relief (BR) look set to become law from April 2026, so succession planning has never been more important for business owners. SoGlos spoke to Willans LLP solicitors to get some top tips on succession planning and business exits from partner and head of corporate and commercial, Chris Wills; and partner in wills, trusts and probate, Rachel Sugden. 'For this reason, it’s crucial that all business owners have lasting powers of attorney put in place specifically for their business affairs. Chris said: 'Employee ownership trusts (EOTs) are becoming an increasingly popular solution for business succession planning, particularly where business owners are preparing to exit. It is essential that these documents are carefully drafted to avoid unintentionally losing any available inheritance tax relief.'