The draft legislation capping 100% BPR and APR has been published. Emma Heelis-Adams and Andrew Kerr (Burges Salmon) explore the details.
On 10 March 1992 Norman Lamont MP announced to the House of Commons that John Major’s Government would increase the rates of business property relief for unlisted shares to 100% for tenanted land agricultural property relief to 50% and for working farmers to 100%.
The reason Lamont said was because ‘inheritance and capital are no longer a privilege of the wealthy few. Ordinary families want to be able to pass on the wealth that they have built up over their lives to their children without an excessive proportion being taken by tax’.
On 30 October 2024 Rachel Reeves stood at the same dispatch box and announced that ‘from April 2026 the first £1m of combined business and agricultural assets will...
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The draft legislation capping 100% BPR and APR has been published. Emma Heelis-Adams and Andrew Kerr (Burges Salmon) explore the details.
On 10 March 1992 Norman Lamont MP announced to the House of Commons that John Major’s Government would increase the rates of business property relief for unlisted shares to 100% for tenanted land agricultural property relief to 50% and for working farmers to 100%.
The reason Lamont said was because ‘inheritance and capital are no longer a privilege of the wealthy few. Ordinary families want to be able to pass on the wealth that they have built up over their lives to their children without an excessive proportion being taken by tax’.
On 30 October 2024 Rachel Reeves stood at the same dispatch box and announced that ‘from April 2026 the first £1m of combined business and agricultural assets will...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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