The Chancellor of the Exchequer Rachel Reeves announced in the Autumn Budget on 30 October 2024 that two major reliefs from inheritance tax (IHT) Agricultural Property Relief (APR) and Business Property Relief (BPR) would be significantly reformed.
In essence the 100% relief from IHT on qualifying business property including company shares and agricultural property which has applied for over 30 years will be capped and a new reduced rate of relief of 50% will apply above the limit. That limit is a relatively small figure of £1m and it applies to the combined value of eligible agricultural property and business property owned by a person.
Any property which specifically qualifies for 50% relief (for example quoted shares giving control of a company) does not count towards the £1m threshold.
Shares which are quoted on the Alternative Investment Market or similar unlisted shares...
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The Chancellor of the Exchequer Rachel Reeves announced in the Autumn Budget on 30 October 2024 that two major reliefs from inheritance tax (IHT) Agricultural Property Relief (APR) and Business Property Relief (BPR) would be significantly reformed.
In essence the 100% relief from IHT on qualifying business property including company shares and agricultural property which has applied for over 30 years will be capped and a new reduced rate of relief of 50% will apply above the limit. That limit is a relatively small figure of £1m and it applies to the combined value of eligible agricultural property and business property owned by a person.
Any property which specifically qualifies for 50% relief (for example quoted shares giving control of a company) does not count towards the £1m threshold.
Shares which are quoted on the Alternative Investment Market or similar unlisted shares...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
