How The 40% Inheritance Tax Is Destroying Muslim Families (And How to Manage It) | MMT EP 60 - Ruzwan Boota

This episode of Muslim Money Talk dives into the dangers of poor succession planning, inheritance disputes, and the looming inheritance tax crisis for Muslim families and business owners in the UK. Guest expert Ruzwan Boota shares real-life case studies, explains Sharia-compliant wills, and highlights urgent steps families must take to protect wealth, avoid riba, and preserve unity.

This podcast is hosted by Areeb Siddiqui, the founder and CEO of Kestrl, the app that helps people to grow their wealth without compromise

Find out more about our app here: https://kestrl.io/

And how we help banks here: https://business.kestrl.io/

Show Notes: 

00:00 - Opening 

02:42 – Introduction of guest Roswan Bhuta, his background in tax advisory

04:16 – Stories from advising footballers on wealth protection

05:56 – Transition to iWills and focus on Muslim tax advisory

07:34 – Muslim wealth, poverty stats, and proactive tax planning

09:05 – Case study: business owner who delayed planning and left chaos

13:04 – Family disputes, Sharia vs. non-Sharia inheritance splits

16:49 – Sharia-compliant wills: rules, shares, and misconceptions20:33 – Examples of siblings inheriting in absence of sons

21:29 – Using trusts to protect irresponsible heirs

22:24 – Process for drafting wills quickly and affordably

25:53 – Kestrel fintech interlude (ad segment)

26:14 – Inheritance tax thresholds, reliefs, and new 2026 law

31:43 – Financial burden on families and rise of riba loans

32:52 – Urgent planning window before April 2026

34:17 – Shaitan’s influence in family disputes over wealth

34:53 – Implications for startups and co-founders

37:24 – Passing on debt and the dangers of delaying Sharia compliance

39:32 – Client story: widow deciding to clear riba mortgages

43:17 – Fees, transparency, and honest tax advice

45:49 – Step-by-step approach: wills, trusts, and family conversations

48:22 – Trust structures to protect immature beneficiaries

49:53 – Importance of proactive planning, not waiting for death

50:24 – Muslims and generational wealth building

51:16 – Practical takeaway: seek specialist tax advice, take action now