Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of introducing separate inheritance tax thresholds for (a) agricultural land and (b) business equipment for farmers.

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 in 2026-27 by the changes to APR and BPR, with around half of those being claims that involve AIM shares. Almost three-quarters of estates claiming agricultural property relief (or those claiming agricultural property relief and business property relief together) 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.