Written questions by Atkins.

What estimate her Department has made of the number of estates that will pay additional inheritance after the threshold changes to £2.5million from April 2026 who claim a) only Agricultural Property Relief b) only Business Property Relief and c) both Agricultural Property Relief and Business Property Relief.

Compared to Budget 2025, the expected number of estates claiming agricultural property relief (including those also claiming business property relief) affected by the reforms in 2026-27 halves from 375 to 185. Around 85% of estates claiming agricultural property relief in 2026-27, including those that also claim for business property relief, are forecast to pay no more inheritance tax on their estates under these changes. Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are also now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This is a reduction from up to 325 such estates forecast to pay more at Budget 2025. This means just over 80% of such estates making claims are forecast to not pay any more inheritance tax. Further information is available in the updated Tax Impact and Information Note (TIIN) which was published on 9 January: https://www.gov.uk/government/publications/changes-to-agricultural-property-relief-and-business-property-relief. As is normal practice, the Exchequer cost of these changes will be considered by the Office for Budget Responsibility (OBR) and published at the Spring Forecast.

Whether an impact assessment was carried out on changing the Agricultural Property Relief and Business Property to £2.5million.

Compared to Budget 2025, the expected number of estates claiming agricultural property relief (including those also claiming business property relief) affected by the reforms in 2026-27 halves from 375 to 185. Around 85% of estates claiming agricultural property relief in 2026-27, including those that also claim for business property relief, are forecast to pay no more inheritance tax on their estates under these changes. Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are also now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This is a reduction from up to 325 such estates forecast to pay more at Budget 2025. This means just over 80% of such estates making claims are forecast to not pay any more inheritance tax. Further information is available in the updated Tax Impact and Information Note (TIIN) which was published on 9 January: https://www.gov.uk/government/publications/changes-to-agricultural-property-relief-and-business-property-relief. As is normal practice, the Exchequer cost of these changes will be considered by the Office for Budget Responsibility (OBR) and published at the Spring Forecast.

What estimate her Department has made of the number of a) farms b) agricultural businesses and c) non-agricultural businesses that will pay additional inheritance after April 2026 following proposed changes to Agricultural Property Relief and Business Property Relief.

Compared to Budget 2025, the expected number of estates claiming agricultural property relief (including those also claiming business property relief) affected by the reforms in 2026-27 halves from 375 to 185. Around 85% of estates claiming agricultural property relief in 2026-27, including those that also claim for business property relief, are forecast to pay no more inheritance tax on their estates under these changes. Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are also now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This is a reduction from up to 325 such estates forecast to pay more at Budget 2025. This means just over 80% of such estates making claims are forecast to not pay any more inheritance tax. Further information is available in the updated Tax Impact and Information Note (TIIN) which was published on 9 January: https://www.gov.uk/government/publications/changes-to-agricultural-property-relief-and-business-property-relief. As is normal practice, the Exchequer cost of these changes will be considered by the Office for Budget Responsibility (OBR) and published at the Spring Forecast.

Whether the changes to the threshold for Agricultural Property Relief and Business Property to £2.5million has been scored by the Office for Budget Responsibility.

Compared to Budget 2025, the expected number of estates claiming agricultural property relief (including those also claiming business property relief) affected by the reforms in 2026-27 halves from 375 to 185. Around 85% of estates claiming agricultural property relief in 2026-27, including those that also claim for business property relief, are forecast to pay no more inheritance tax on their estates under these changes. Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are also now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This is a reduction from up to 325 such estates forecast to pay more at Budget 2025. This means just over 80% of such estates making claims are forecast to not pay any more inheritance tax. Further information is available in the updated Tax Impact and Information Note (TIIN) which was published on 9 January: https://www.gov.uk/government/publications/changes-to-agricultural-property-relief-and-business-property-relief. As is normal practice, the Exchequer cost of these changes will be considered by the Office for Budget Responsibility (OBR) and published at the Spring Forecast.

Whether she plans to publish an impact assessment on the proposal to change the Agricultural Property Relief and Business Property threshold to £2.5million.

Compared to Budget 2025, the expected number of estates claiming agricultural property relief (including those also claiming business property relief) affected by the reforms in 2026-27 halves from 375 to 185. Around 85% of estates claiming agricultural property relief in 2026-27, including those that also claim for business property relief, are forecast to pay no more inheritance tax on their estates under these changes. Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are also now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This is a reduction from up to 325 such estates forecast to pay more at Budget 2025. This means just over 80% of such estates making claims are forecast to not pay any more inheritance tax. Further information is available in the updated Tax Impact and Information Note (TIIN) which was published on 9 January: https://www.gov.uk/government/publications/changes-to-agricultural-property-relief-and-business-property-relief. As is normal practice, the Exchequer cost of these changes will be considered by the Office for Budget Responsibility (OBR) and published at the Spring Forecast.

Whether Emma Reynolds MP met with (a) farming, (b) estate planning, (c) tax advisory and (d) other external organisations to discuss inheritance tax changes when Chief Secretary to the Treasury.

HM Treasury Ministers take part in internal and external meetings routinely on a range of subjects relating to the department’s responsibilities and their specific portfolios. As the Minister responsible for the UK tax system, the Exchequer Secretary to the Treasury’s portfolio of responsibilities includes inheritance tax. My rt hon Friend the Secretary of State for Environment, Food, and Rural Affairs has not been the Exchequer Secretary to the Treasury. She was Parliamentary Secretary at HM Treasury and the Department of Work and Pensions from 9 July 2024 to 14 January 2025. She was Economic Secretary to the Treasury from 14 January 2025 to 5 September 2025.

Whether Emma Reynolds MP has attended any meetings in her role as Economic Secretary to the Treasury on proposed changes to inheritance tax since 1 July 2024.

HM Treasury Ministers take part in internal and external meetings routinely on a range of subjects relating to the department’s responsibilities and their specific portfolios. As the Minister responsible for the UK tax system, the Exchequer Secretary to the Treasury’s portfolio of responsibilities includes inheritance tax. My rt hon Friend the Secretary of State for Environment, Food, and Rural Affairs has not been the Exchequer Secretary to the Treasury. She was Parliamentary Secretary at HM Treasury and the Department of Work and Pensions from 9 July 2024 to 14 January 2025. She was Economic Secretary to the Treasury from 14 January 2025 to 5 September 2025.

Whether Emma Reynolds MP has attended any Treasury meetings in her role as Economic Secretary to the Treasury on inheritance tax reforms on Agricultural Property Relief and Business Property Relief since 1 July 2024.

HM Treasury Ministers take part in internal and external meetings routinely on a range of subjects relating to the department’s responsibilities and their specific portfolios. As the Minister responsible for the UK tax system, the Exchequer Secretary to the Treasury’s portfolio of responsibilities includes inheritance tax. My rt hon Friend the Secretary of State for Environment, Food, and Rural Affairs has not been the Exchequer Secretary to the Treasury. She was Parliamentary Secretary at HM Treasury and the Department of Work and Pensions from 9 July 2024 to 14 January 2025. She was Economic Secretary to the Treasury from 14 January 2025 to 5 September 2025.

Whether Emma Reynolds has (a) chaired and (b) deputised at any meetings on inheritance tax policy since 1 July 2024.

HM Treasury Ministers take part in internal and external meetings routinely on a range of subjects relating to the department’s responsibilities and their specific portfolios. As the Minister responsible for the UK tax system, the Exchequer Secretary to the Treasury’s portfolio of responsibilities includes inheritance tax. My rt hon Friend the Secretary of State for Environment, Food, and Rural Affairs has not been the Exchequer Secretary to the Treasury. She was Parliamentary Secretary at HM Treasury and the Department of Work and Pensions from 9 July 2024 to 14 January 2025. She was Economic Secretary to the Treasury from 14 January 2025 to 5 September 2025.

What meetings she had with the (a) National Farmers Union, (b) Country Land and Business Association, (c) Countryside Alliance, (d) Tenant Association Farmers and (e) Central Association for Agricultural Valuers before 30 October 2024.

The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms. The Government takes into account all representations, and HM Treasury officials and Ministers meet with stakeholders on a regular basis.

What meetings she has had with the (a) National Farmers Union, (b) Country Land and Business Association, (c) Countryside Alliance, (d) Tenant Association Farmers and (e) Central Association for Agricultural Valuers since 30 October 2024.

The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms. The Government takes into account all representations, and HM Treasury officials and Ministers meet with stakeholders on a regular basis.

Pursuant to the Answer of 11 November 2024 to Question 12741 on Business: Inheritance Tax, how many and what proportion of the estates that claimed both agricultural property relief and business property relief were (a) working farms and (b) other claimants.

When estates include a claim for both APR and BPR, the estate may not consist entirely of a farming business and its working capital. HMRC estimates that of the population of estates that claimed both APR and BPR in 2021-22, almost a quarter included a BPR claim for shares on the Alternative Investment Market (AIM). It is likely that those particular assets contained within those estates represent, at least in part, investment portfolios set up in order to minimise inheritance tax liabilities, rather than being comprised solely of farming businesses. It is also possible that any claim for BPR is for a business unconnected to any farming activities.

Pursuant to the Answer of 11 November 2024 to Question 12741 on Business: Inheritance Tax, what the combined value of assets qualifying for relief was in the estates that claimed both agricultural property relief and business property relief.

In 2021-22, the total combined value of agricultural and business property relief (APR, BPR) from those estates that claimed both reliefs was £1.6 billion. When estates include a claim for both APR and BPR, the estate may not consist entirely of a farming business and its working capital. HMRC estimates that of the population of estates that claimed both APR and BPR in 2021-22, almost a quarter included a BPR claim for shares on the Alternative Investment Market (AIM). It is likely that those particular assets contained within those estates represent, at least in part, investment portfolios set up in order to minimise inheritance tax liabilities, rather than being comprised solely of farming businesses. It is also possible that any claim for BPR is for a business unconnected to any farming activities. More information is available in the Chancellor's recent letter to the Chair of the Treasury Select Committee: https://committees.parliament.uk/publications/45691/documents/226235/default/.

Pursuant to the Answer of 11 November 2024 to Question 12741 on Business: Inheritance Tax, how many and what proportion of the estates that claimed both agricultural property relief and business property relief (a) were family farms and (b) would have paid inheritance tax under the changes made at the Autumn Budget 2024.

When estates include a claim for both APR and BPR, the estate may not consist entirely of a farming business and its working capital. HMRC estimates that of the population of estates that claimed both APR and BPR in 2021-22, almost a quarter included a BPR claim for shares on the Alternative Investment Market (AIM). It is likely that those particular assets contained within those estates represent, at least in part, investment portfolios set up in order to minimise inheritance tax liabilities, rather than being comprised solely of farming businesses. It is also possible that any claim for BPR is for a business unconnected to any farming activities. More information is available in the Chancellor's recent letter to the Chair of the Treasury Select Committee: https://committees.parliament.uk/publications/45691/documents/226235/default/.

With reference to her Department’s publication entitled Summary of reforms to agricultural property relief and business property relief, published on 30 October 2024, how many Agricultural Property Relief claims in the reference period also included claims for Business Property Relief.

The Government has published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms. In 2021-22, 782 estates making agricultural property relief claims also made business property relief claims.