Agricultural and Business Property Reliefs - Inheritance Tax

Understanding Agricultural and Business Property Reliefs. Inheritance tax on farms.
Agricultural and Business Property Reliefs – Navigating the 2024 Reforms:
The October budget introduced significant reforms to Inheritance Tax, particularly Agricultural Property Relief and Business Property Relief. At the moment, qualifying agricultural and business assets benefit from 100% or 50% relief, making estate planning more manageable for families.
Changes to agricultural property relief
However, new rules will take effect on 6 April 2026, potentially increasing inheritance tax liabilities and sparking concern among property and business owners. Understanding these changes is essential to protecting your assets and planning for the future.

Inheritance tax on farms can significantly impact the transfer of agricultural property between generations. However, provisions such as Agricultural and Business Property Reliefs (ABPR) can help reduce the inheritance tax charge, provided eligibility criteria are met. Business Property Relief (BPR) and Agricultural Property Relief (APR) are vital tools for minimising farm inheritance tax and ensuring the continuity of family-run agricultural operations. Changes to agricultural property relief regulations may affect the availability of these tax breaks, emphasising the importance of understanding the specific requirements. By leveraging these reliefs effectively, families can mitigate the tax burden on agricultural and business property, safeguarding their farms for future generations.



Wilkins Southworth is a friendly accountants practice based in Barnes, South West London.
The practice has an international aspect that means we have built up a bank of experience in dealing with Double Taxation Treaties and liaising with tax offices around the world.


Business Tax and Property Tax Articles and Videos
Chris Wilkins is often invited to write tax and accounting articles for magazines, journals and trade publications.
https://www.wilkinssouthworth.co.uk/a...
Visit this section for a selection of articles that have been published in recent years.

If you have questions about this or other Tax and Accounting issues then please drop a line on our web page contact section https://wilkinssouthworth.co.uk/conta... as this is the quickest way to receive a response.

https://wilkinssouthworth.co.uk/conta...

Wilkins Southworth
Telephone: 020 8878 3949
E-mail: [email protected]

*Property, Tax and Business articles*
https://wilkinssouthworth.co.uk/artic...

For more information please visit https://www.wilkinssouthworth.co.uk
Wilkins Southworth 10-12 High Street,
Barnes,
London SW13 9LW