Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to business property relief on family-owned property development companies.

The Government published information about the reforms to 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.

BPR is not available to businesses consisting wholly or mainly of dealing in land or buildings. Whether or not a particular property development company will qualify for relief depends on the nature of the business.

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