Agriculture: Inheritance Tax
The question
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the Autumn Budget 2024 on the (a) profitability and (b) sustainability of farming businesses.
Answered by James Murray
The Government 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.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.
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