Agriculture: Inheritance Tax

Treasury written question – answered at on 18 November 2024.

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Photo of Gareth Davies Gareth Davies Shadow Financial Secretary (Treasury)

To ask the Chancellor of the Exchequer, with reference to her Department's policy paper entitled Summary of reforms to agricultural property relief and business property relief, published on 30 October 2024, what assessment he has made of the impact of this change on tenant farmers.

Photo of Gareth Davies Gareth Davies Shadow Financial Secretary (Treasury)

To ask the Chancellor of the Exchequer, with reference to her Department's policy paper entitled Summary of reforms to agricultural property relief and business property relief, published on 30 October 2024, whether he has made an assessment of the number of farmers that will exit the sector as a result of this change.

Photo of David Reed David Reed Conservative, Exmouth and Exeter East

To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of changes to agricultural property relief on the sustainability of domestic food production.

Photo of David Reed David Reed Conservative, Exmouth and Exeter East

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of changes to Agricultural Property Relief on tenants' access to (a) land and (b) secure tenancy agreements.

Photo of James Murray James Murray The Exchequer Secretary

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. Around 500 estates across the UK are expected to be affected each year from 2026-27.

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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