Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether land farmed under the Environmental Land Management Scheme will be exempt from new inheritance tax rules for farms.

The environmental value of land farmed or managed under the Environmental Land Management Scheme (ELMS) will be eligible for Agricultural Property Relief (APR) of up to 100% from 6^th April 2025. From 6^th April 2026, the 100% rate of relief will continue for the first £1 million of combined agricultural and business property, and it will be 50% thereafter. This will include land in ELMS.