HM Revenue & Customs is reforming inheritance tax reliefs, including changes to agricultural property relief (APR) and business property relief (BPR) that affect farmers and business owners. The reform also addresses anti-avoidance measures for non-long-term UK residents, trusts, and extends relief for infected blood compensation payments. This is an active policy area with ongoing engagement with farming representatives on implementation impacts.
This measure reforms agricultural property relief and business property relief from Inheritance Tax.
In response to: Inheritance Tax and Infected Blood compensation payments
This tax information and impact note is about anti-avoidance measures to prevent use of situs of personal or trust property to avoid Inheritance Tax or pay less than long-term UK residents.
This measure extends the existing Inheritance Tax relief for Infected Blood compensation payments, if the eligible infected or affected person has already died when compensation is paid.
This measure fixes Inheritance Tax thresholds at their current levels for the tax years up to and including 2030 and 2031.
In response to: Reforms to agricultural property relief and business property relief
This measure reforms agricultural property relief and business property relief from Inheritance Tax.
In response to: Agricultural Property Relief and environmental land management
Agricultural Property Relief for environmental land management to commence from 6 April 2025.
In response to: Inheritance Tax nil-rate band and residence nil-rate bands from 6 April 2028
This tax information and impact note is about the nil-rate band and residence nil-rate band thresholds for tax years 2028 to 2029 and 2029 to 2030.
This measure restricts the geographical scope of agricultural property relief and woodlands relief on and after 6 April 2024 to the UK only.
This tax information and impact note is about the nil-rate band and residence nil-rate band thresholds for tax years 2026 to 2027 and 2027 to 2028.
This tax information and impact note is about changes to when a full Inheritance Tax account does not need to be delivered to HMRC for a deceased person.
This tax information and impact note extends an existing exemption for compensation payments to those paid by the new Infected Blood Schemes.
This measure extends an existing exemption for compensation payments to those paid by the Scottish Infected Blood Support Scheme.
This tax information and impact note affects the personal representatives and advisors or agents who administer the estate of a deceased person, trustees and other individuals who are liable to Inheritance Tax.