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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

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  • 18 Mar 2025 09:41

Home/ Tolley Tax Guidance/ Trusts and Inheritance Tax / Advising on BPR and APR

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