UK caps inheritance tax relief for farms and businesses

The UK will implement inheritance tax changes on April 6, 2026, capping relief on qualifying agricultural and business assets at £1 million. Amounts above the cap will be taxed at an effective 20% rate. Stakeholders are considering wills, lifetime gifts, trusts, and liquidity planning, with HMRC allowing payment over 10 years. Further Budget announcements are possible on November 26.