From school fees to second homes – how wealthy families might manage higher costs

Wealthy families are likely to start facing higher costs following government changes announced last year.

VAT on private school fees and higher stamp duty on certain second homes will take their toll on many long-term wealth strategies. In addition, Chancellor Rachel Reeves announced changes in October’s Autumn Budget that could increase inheritance tax and make it more expensive to sell investment assets.

Some of these changes are under consultation while others won’t come into effect until April 2026, but it could be worth planning for them now. And the looming tax year end date – 5 April – makes this an opportune time to ensure you’re making the most of your wealth.

“It could be worth revisiting your long-term wealth strategy”

In our short video, Warren Thompson, our Head of International and Family Office, and Coutts Private Banker Sarah Macdonald talk through the most significant changes that came out of the Autumn Budget. They also cover key considerations to help ensure your wealth still serves your long-term goals.

Our experts stand ready to support you through your end of tax year planning. They’re here to help you ensure you have the most appropriate strategy in place to achieve your goals for your family’s future. Please contact your private banker to get started.

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We're here to help, but please be aware we cannot offer tax advice. We recommend you contact an independent tax advisor to discuss your personal tax situation. Tax reliefs applied under current UK legislation may change. The availability and value of any tax relief will depend on your individual circumstances. The value of investments, and the income from them, can fall as well as rise and you may not get back what you put in.