Agricultural Property Relief Reforms
This is a news story, published by GOV.UK, that relates primarily to Bill news.
Bill news
For more Bill news, you can click here:
more Bill newsNews about United kingdom business & economics
For more United kingdom business & economics news, you can click here:
more United kingdom business & economics newsGOV.UK news
For more news from GOV.UK, you can click here:
more news from GOV.UKAbout the Otherweb
Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about United kingdom business & economics, you might also like this article about
agricultural property relief. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest agricultural property news, agricultural assets news, news about United kingdom business & economics, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
business property reliefGOV.UK
•Summary of reforms to agricultural property relief and business property relief
80% Informative
The government announced reforms to agricultural property relief and business property relief from inheritance tax at Autumn Budget 2024 .
Relief of up to 100% is currently available on qualifying business and agricultural assets.
The reforms mean the majority of claims for these reliefs will be unaffected.
The government will publish a technical consultation in early 2025 to inform legislation to be included in a future Finance Bill .
There will be a combined 1 million allowance for trustees on the value of qualifying property to which 100% relief applies, on each ten-year anniversary charge and exit charge.
Settlors may have set up more than one trust comprising qualifying business property and/or agricultural property before 30 October 2024 .
The rates of relief will apply in the following way for transfers on or after 6 April 2026 .
Business property relief 2021 to 2022 .
Number of claims, number of claims and proportion of tax cost to Exchequer .
Median value of assets qualifying for relief is 1,730 to 1,570 per cent.
VR Score
91
Informative language
97
Neutral language
66
Article tone
formal
Language
English
Language complexity
51
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
long-living
External references
no external sources
Source diversity
no sources
Affiliate links
no affiliate links