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Loxley
Changes to the treatment of Pensions for Inheritance Tax purposes
Pensions have, for many years, sat outside the scope of inheritance tax and you may not have given much thought to the taxation of your pension benefits on death when discussing inheritance tax mitigation with your advisors. This treatment will change from 6th April 2027 when the value of any pension benefits payable on your […]
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Loxley
AHA 1986 Succession: Assessing The “Livelihood” Condition
The Upper Tribunal has examined the livelihood condition, for succession applications to tenancies under the Agricultural Holdings Act 1986, confirming that contracting work carried out on other farms is not qualifying work, and has reviewed the approach to applications to be treated as eligible under section 41. Executors of Major M T N H Wills […]
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Loxley
Practical Planning tips in a Changing Landscape
Agricultural and Business Property Relief: Practical Planning tips in a Changing Landscape The day that many in the agricultural and business communities have feared for over a year has now arrived. The changes to Agricultural Property Relief (APR) and Business Property Relief (BPR), announced in October 2024, are now in force. While the government did amend […]
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Loxley
The Renters’ Rights Act Information Sheet 2026
On 20 March 2026 the government published “The Renters’ Rights Act Information Sheet 2026”, which explains how the changes in the rules for the private residential rental sector that take effect on 1 May 2026 – the key change being the abolition of assured shorthold tenancies and their conversion to assured monthly periodic tenancies – […]
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Loxley
The Budget – small but important concession in the APR/BPR rules from 6 April 2026
In today’s Budget the Treasury has very slightly blinked and while the £1million 100% Agricultural and / or Business Property Relief limit (50% relief thereafter) will go ahead from 6 April, it will now be transferrable between spouses (which includes civil partners). The normal £325,000 nil-rate band and the £175,000 residence nil-rate band are transferrable […]
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Loxley
A brief summary of HMRC’s consultation paper “Reforms to Inheritance Tax agricultural property relief (APR) and business property relief (BPR): application in relation to trusts”
The consultation paper was published on 27 February and is about HMRC’s proposed application of restricted APR / BPR reliefs to trusts, to take effect from 6 April 2026. The consultation runs until 23 April, with legislation following (probably in the early summer). It is not a consultation about whether or not the restrictions on […]
