Budget 2024: Agricultural property relief and business property relief reforms

Summary of reforms to agricultural property relief and business property relief

The government is extending agricultural property relief to certain environmental land management agreements from 6 April 2025. The government is also making the inheritance tax system fairer by restricting both agricultural property relief and business property relief for the wealthiest estates from 6 April 2026. This summary sets out further details on the government's announcement and also provides additional statistical information about those claiming the reliefs.