Interaction of APR and BPR

Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance

Interaction of APR and BPR

Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
imgtext

This guidance note considers the interaction of agricultural property relief (APR) and business property relief (BPR). Sometimes APR and BPR may be available on the same assets and sometimes only one relief may be available. This guidance note considers which relief will apply and which assets may not qualify. A farming business or landed estate may qualify for relief in its entirety by using BPR to ‘mop up’ the excess value, even where it holds assets that do not qualify for APR in their own right. Shares in farming companies may qualify for BPR rather than APR, or neither relief if the land is let. Consideration is also given to the replacement of assets for BPR purposes where assets qualifying for APR are replaced with assets qualifying for BPR or vice versa.

100% relief allowance and 100% trust relief allowance

From 6 April 2026, the 100% relief allowance and 100% trust relief allowance restrict 10% relief to £2.5 million of relievable property, and any value in excess of this will be relieved

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+™
Powered by Tolley+™

Popular Articles

Exporting goods ― proof of export

Exporting goods ― proof of exportIn addition to the requirements laid down in the Exporting goods ― overview guidance note, businesses intending to zero-rate exported goods must hold satisfactory evidence that the goods have been delivered to a destination outside of the UK. If satisfactory evidence

15 Dec 2020 14:02 | Produced by Tolley Read more Read more

Company cars

Company carsIntroductionCompany cars are one of the most common taxable benefits. The rules for calculating the benefit are complex, and the reporting requirements are more onerous than most benefits. Company cars are covered by very specific legislation. Detailed guidance on each of the following

14 Jul 2020 11:15 | Produced by Tolley Read more Read more

Exemption ― burial and cremation

Exemption ― burial and cremationThis guidance note provides an overview of the VAT treatment of services that are provided in connection with the burial or cremation of human remains.VAT treatmentThe following services are exempt from VAT:•the disposal of the remains of the dead•making arrangements

14 Jul 2020 11:38 | Produced by Tolley Read more Read more