½Û×ÓÊÓƵ

Business Property Relief and Agricultural Property Relief ― 100% relief cap from 6 April 2026


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
tag-icon Autumn Budget 2024

Business Property Relief and Agricultural Property Relief ― 100% relief cap from 6 April 2026


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
tag-icon Autumn Budget 2024
imgtext

This guidance note explains the changes to Business Property Relief (BPR) and Agricultural Property Relief (APR) announced at the Autumn 2024 budget.

Current position

Currently, where BPR and APR apply at the 100% rate there is no restriction on the value that can be claimed. For the existing rates of relief and categories of qualifying relevant business property see the BPR ― relevant business property guidance note. For the existing rates of relief and details of qualifying agricultural property see the Agricultural property relief (APR) guidance note.

Proposed changes

From 6 April 2026 the 100% rate of relief will only apply to the first £1 million of combined agricultural and business property. Any value in excess of the limit will be relieved at the 50% rate. This £1m limit is described in the budget documents as ‘a new allowance’. This allowance will apply to the combined value of business and agricultural property in the estate and will be divided proportionately

Continue reading
To read the full Guidance note, register for a free trial of Tolley+â„¢
TAKE A FREE TRIAL
Powered by
  • 31 Oct 2024 11:10

Home/ ½Û×ÓÊÓƵ Guidance/ Trusts and Inheritance Tax / Advising on BPR and APR

Popular Articles

Class 1 v Class 1A

Class 1 v Class 1AClass 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met

Read more Read more
Trusts and Inheritance Tax

Payments to trust beneficiaries

Payments to trust beneficiariesThis guidance note considers the trustees powers to make payments and whether the payment made is income or capital.This guidance note is designed to give outline and background for accountants and tax advisers who deal with clients establishing trusts. It is not

14 Jul 2020 12:52 | Produced by Tolley Read more Read more
Personal Tax

Maintenance payments

Maintenance paymentsMaintenance payments are payments made by a taxpayer to their former or separated spouse / civil partner for the maintenance of that person or their children. To obtain any tax relief for maintenance payments, one of the couple must have been born before 5 April 1935 and the

14 Jul 2020 12:12 | Produced by Tolley Read more Read more