Q&A: Changes announced to agricultural property relief in the 2024 Spring Budget

What are the changes announced in the Budget?

Further to Budget 2024 extended agricultural property relief (APR) will be available for lifetime transfers and transfers at death on or after 6 April 2025. APR will be available for land managed under an environmental agreement with or on behalf of the UK government devolved administrations public bodies local authorities or approved responsible bodies.

What if farmers have entered into environmental or rewilding projects but die before 6 April 2025?

There has to be arguments to claim APR on the basis that there has been a delay in the formalisation of the treatment. Evidence will be important of the nature of the environment project and the history of farming. APR will be available where there is an agreement or undertaking in place for the environmental land management scheme on or after...