Earlier this week, HMRC published its latest policy paper on Agricultural Property Relief and Business Property Relief reforms, reconfirming the changes announced in the Autumn 2024 Budget that will have widespread consequences for the future of generational farming.
Our Director, Trevor Wells, who is a Fellow of the Central Association of Agricultural Valuers and a partner in a farming business, shares his advice…
“The changes set to come into force in April 2026 will affect the vast majority of farms, with many older farmers and landowners being forced to consider selling or restructuring all or some of their holdings, which is disastrous for both British produce and generational businesses.
“Our rural estate management team has extensive experience handling probate and IHT cases and has been conducting mock probates to help families understand the financial implications of these reforms, highlighting the measures that can be taken to mitigate the impact. As difficult as it is to consider your own mortality, steps can be taken to protect businesses and assets, so there’s never been a more crucial time to take quality, strategic advice.
“This is especially pertinent for those with land that has strategic development potential and therefore hope value.
“If you’re worried about what these reforms mean for your farm or business, please don’t delay in contacting us to arrange a consultation. When the April 2026 deadline passes, this will remove many of the options that are currently available so now is the time to act,” adds Trevor.
Contact Trevor Wells or Andrew McFarlane Holt for a consultation.
