United Kingdom: Inheritance Tax Reform Impacts Family Businesses

Significant changes to business and agricultural inheritance taxation, effective from 6 April 2026, will require entrepreneurs to reassess generational transfer strategies to mitigate substantial tax liabilities.

The United Kingdom’s forthcoming inheritance tax (IHT) reform, announced in the Budget on 30 October 2024, introduces significant changes to the taxation of business and agricultural inheritances. Effective from 6 April 2026, these reforms will reshape Business Property Relief (BPR) and Agricultural Property Relief (APR), compelling business owners, both UK residents and non-residents, to overhaul their succession planning strategies to address new tax implications.

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