Butler & Co Chartered Accountants
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PRACTICE NOTES
FORTHCOMING CHANGE relating to changes to APR and BPR :
At the Autumn Budget 2024 on 30 October 2024, the government announced plans to significantly reduce the level of APR and BPR available on qualifying property from April 2026. Following consultation and subsequent announcements, the existing 100% rate of relief will be limited so it will no longer apply to the entire value of qualifying agricultural or business assets, but will instead only cover the first £2.5m of combined value. For more detail, see News Analysis: Autumn Budget 2024—Private Client analysis — Inheritance tax, and Practice Notes: IHT—agricultural property relief and IHT—business property relief.
Even before the announcements made at the Autumn Budget on 30 October 2024, landed estates had long been encountering HMRC challenges to inheritance tax (IHT) relief claims, while also having to navigate a wholly new agricultural policy regime brought in by the
Private Client
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