Agriculture: Inheritance Tax
The question
To ask the Chancellor of the Exchequer, with reference to the Autumn Budget 2024, published on 30 October 2024, HC 295, what estimate her Department has made of the number of farms that will no longer be eligible for agricultural property relief.
Answered by James Murray
The Government has published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms, and further explanatory information at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief.
No changes are being made to the eligibility criteria for agriculture property relief. The system is being reformed to limit its generosity for claims over £1 million.
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