Advanced

PARLIAMENTARY WRITTEN QUESTION
(27 January 2025)

Question Asked

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to business property relief on family-owned property development companies.

Asked by:
Sarah Green (Liberal Democrat)

Answer

The Government published information about the reforms to business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.

It is expected that up to around 2,000 estates will be affected by the changes to APR and BPR in 2026-27, with around half of those being claims that involve AIM shares.

BPR is not available to businesses consisting wholly or mainly of dealing in land or buildings. Whether or not a particular property development company will qualify for relief depends on the nature of the business.

In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.


Answered by:
()

Contains Parliamentary information licensed under the Open Parliament Licence v3.0.