6 April 2026 — Changes to Agricultural Property Relief and Business Property Relief
Important changes to Inheritance Tax relief for agricultural and business assets came into effect on 6 April 2026.
Under the new rules, the 100% rate of Agricultural Property Relief and Business Property Relief is limited to a combined £2.5 million of qualifying agricultural and business assets. Qualifying assets above the available allowance will generally receive relief at 50%.
Any unused part of the £2.5 million allowance may also be transferred to a surviving spouse or civil partner, potentially increasing the available allowance on the second death.
These changes may be particularly important for business owners, farming families and individuals whose estates contain significant business or agricultural assets.
If your circumstances are affected by these changes, it may be an appropriate time to review your Will, succession arrangements and wider Estate Planning to ensure your wishes and existing arrangements remain suitable.
Source: HM Revenue & Customs (HMRC) / GOV.UK


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