Agricultural Property Relief


Agricultural Property Relief is a valuable inheritance tax relief which currently applies to agricultural land and property throughout the European Economic Area. It has been in place since the Finance Act 2009 was implemented and was introduced to comply with EU law.

For example, currently, if a UK domiciled person dies whilst owning farmland in an EU member state, then relief may reduce the amount of inheritance tax payable in respect of that land.

Following the UK’s departure from the EU, it has been announced that the measure will be reversed so that from 6 April 2024, relief only applies to agricultural land and property located in the UK.

The new measure will also remove relief from agricultural land and property owned in the Channel Islands and Isle of Man, again as from 6 April 2024.

These changes mean that if you currently own farmland in the EEA, Channel Islands or Isle of Man, you should review your tax and succession planning.

The private client team here at Barker Gotelee has expertise in matters relating to EU laws and directives so if you have any queries in this area, or require advice about any other private client matter, contact us.

Nick Palmer is a solicitor in the private client team at Barker Gotelee, solicitors in Ipswich.

Solicitors Ipswich Suffolk – for more information on our range of legal services, please call the team on 01473 611211 or email [email protected]