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Private Client Tax Partner at Cooper Parry

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 after 6 April 2026.   We’ll be releasing our full Budget breakdown soon. So, keep ‘em peeled. https://lnkd.in/ePZrjsW7 #AutumnBudget2024 #BudgetUpdates

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