The Government's U-turn on Agricultural Property Relief means that woodland buyers may save up to £600,000 extra in tax relief. The inheritance tax free band for a couple owning commercial woodland has been increased from £2 million to £5 million. Following sustained pressure from the farming and rural business community, ministers have announced that the threshold for full 100% relief under Business Property Relief (BPR) and Agricultural Property Relief (APR) will rise from
The Chancellor has cleared the way for individuals and couples to buy woodlands in a tax efficient way. Changes to the inheritance tax relief on commercially managed woodlands have made it easier for couples to shelter their assets from inheritance tax (IHT). Specifically, the £1m IHT allowance per person is now transferable between spouses. Chancellor Reeves has reinforced and extended the allowances for individuals and couples seeking to benefit from HMRC’s favourable tax t
