House of Commons Committee report calls for changes to APR/BPR to be postponed
A House of Commons Committee Report “Government's vision for farming” published on 23 May calls for an extended timetable to implement the changes to Agricultural Property Relief and Business Property Relief. The Government has two months to respond.
The report recommends that the Government should delay announcing its final APR and BPR reforms until October 2026, and delay implementation until April 2027, to allow more time for farming businesses to seek professional advice and carry out succession planning. This would give the Government more time to “consult and assess” and consider “policy measures and mitigations to reduce any unintended negative consequences”.
The Government's Vision for Farming
The report goes on to recommend (para 50) that, as part of the consultation and assessment the Government should consider the best means to allow farms to be passed between generations intact and to protect the most vulnerable, highlighting those who are not expected to survive another seven years (and who cannot, therefore, expect to make gifts without any IHT repercussions).
The Government's response is eagerly awaited.