The £1m allowance for the 100% rate of agricultural property relief (APR) and business property relief (BPR) will be fixed for a further year.
The Autumn Budget document stated that the forthcoming combined allowance for the 100% rate of APR and BPR will be fixed at £1m for a further year until 5 April 2031. Meanwhile, any unused £1m allowance for the 100% rate of agricultural property relief and business property relief will be transferable between spouses and civil partners, including if the first death was before 6 April 2026. First announced in Reeves' Autumn Budget last year, the proposals limit the 100% APR and BPR relief to the first £1m of combined agricultural and business property. From April 2026, property above ...
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