AUTUMN BUDGET ’24: APR & BPR REFORMS 💼 Big changes announced in today’s Budget to two valuable Inheritance Tax reliefs, Agricultural Property Relief (APR) and Business Property Relief (BPR). Currently uncapped, from April 2026, the first £1m of combined qualifying assets will obtain 100% relief under APR and BPR. For assets over £1m, the relief will be 50%, giving an effective rate of 20%. For AIM shares, the relief will be 50%, giving an effective rate of 20%. Transitional provisions will apply the capped reliefs to gifts made from today's date, if the transferor dies post 6 April 2026. We’ll be releasing our full Budget breakdown soon. So, keep ‘em peeled. https://lnkd.in/ePZrjsW7 #AutumnBudget2024 #BudgetUpdates
Useful tips
Audit & Assurance Associate Deloitte, Nottingham
1moI’ll be sure to keep ‘em peeled👍