Agriculture: Inheritance Tax

(asked on 5th November 2024) - View Source

Question to the HM Treasury:

To ask His Majesty's Government what discussions took place between Ministers and representatives of the devolved administrations about the potential impact of changes to agricultural property relief on family-owned farms in the devolved nations prior to the announcements made in the Budget.


Answered by
Lord Livermore Portrait
Lord Livermore
Financial Secretary (HM Treasury)
This question was answered on 19th November 2024

The Government published information about the reforms to agricultural property relief and business property relief on gov.uk.

Almost three-quarters of estates claiming agricultural property relief (or those claiming agricultural property relief and business property relief together) each year are expected to be unaffected by these reforms. It is expected that up to around 2,000 estates will be affected by the changes to APR and BPR. Up to around 520 of these are expected to relate to claims for APR (including those that also claim for BPR), and this number falls to around 430 when claims that include AIM shares are excluded.

The Government takes into account all representations made ahead of the Budget, and meets with stakeholders on a regular basis.

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