Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to (a) agricultural property relief and (b) business property relief announced in the Autumn Budget 2024 on (i) abattoirs, (ii) butchers, (iii) agricultural retailers, (iv) agricultural machinery retailers and (v) other agriculture-related businesses.

The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.

It is expected that up to around 2,000 estates will be affected by the changes to APR and BPR in 2026-27, with around half of those being claims that involve AIM shares. Almost three-quarters of estates claiming agricultural property relief (including those claiming agricultural property relief and business property relief together) each year are expected to be unaffected by these reforms.

In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.