Autumn Budget 2024
Business Property Relief and Agricultural Property Relief 鈥� 100% relief cap from 6 April 2026
Trusts and Inheritance Tax
Guidance
Business Property Relief and Agricultural Property Relief 鈥� 100% relief cap from 6 April 2026
Trusts and Inheritance Tax
Guidance
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 鈥� 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 拢1 million of combined agricultural and business property. Any value in excess of the limit will be relieved at the 50% rate. This 拢1m limit is described in the budget documents as 鈥榓 new allowance鈥�. 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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