The government is consulting on the impact the changes to agricultural and business property reliefs will have on the inheritance tax payable by trusts comprising of property where the value of that property exceeds £1m.
As well as the effect on transfers made on or after 6 April 2026, the consultation seeks views on transitional provisions for transfers made before 6 April 2026 and on the introduction of an anti-fragmentation rule for trust property settled on or after 30 October 2024.
Comments should be submitted by 23 April 2025.
HMRC reforms to IHT APR and BPR trusts consultation: tinyurl.com/hmrcihtreftrustscondoc
