Spring Statement Predictions: Inheritance Tax

With the Spring Statement being announced on the 26th March, 2025, analysts anticipate potential changes to inheritance tax rules, particularly regarding Agricultural and Business Property Relief. However, a major reversal seems unlikely.

Partner Hilesh Chavda suggests that the controversial agricultural relief changes may see minor adjustments and broader reforms such as those affecting Business Property Relief whilst non-dom taxations are unlikely to be revisited. He also highlights concerns over pension valuations, warning that delays in obtaining valuations from providers could slow down estate administration and tax payments.

Private Wealth Partner Hudda Morgan notes that current tax reliefs for farms and businesses were originally designed to protect jobs and food security but have also been exploited for tax advantages. She proposes potential reforms, including stricter investment requirements for Business Property Relief and an approach similar to Irish agricultural relief, which ensures farmland remains actively used.

 Read the full article including Hilesh Chavda’s and Hudda Morgan’s comments via this link: Inheritance Tax/Farms and Business Assets: What to Expect Wednesday | DIY Investor