Question to the HM Treasury:

To ask His Majesty's Government how inheritance tax will apply to self-invested personal pension schemes that include assets which qualify for agricultural property relief.

As announced at Autumn Budget 2024, from 6 April 2027 most unused pension funds and death benefits will be included within the value of a person’s estate for inheritance tax purposes.

The nature of the assets held by a pension scheme is not taken into account for inheritance tax purposes. This is the existing policy on the treatment of assets held by a pension scheme.

Comprehensive guidance will be published on these changes ahead of coming into effect.