IHT Information Event for Farmers

Following the Chancellor's Budget on October 31st, there has been much commentary, discussion and analysis related to the announced Inheritance Tax changes and in particular those related to Agricultural Property Relief (APR).

From 6 April 2026, combined inherited agricultural and business assets worth more than £1m, which were previously exempt, will be subject to Inheritance Tax at a rate of 20%. This change will have an impact on many within our farming sector where, for the first time, there will be a potential Inheritance Tax burden when passing on farms on death.

At GMcG's information events, Director Gill Johnston addressed the capacity audiences with an overview of how the farming sector may be affected. Paul O'Connor, GMcG Tax Associate Director, delivered detailed presentations on areas of tax planning that could help farmers mitigate the impact of any Inheritance Tax charges associated with the transfer of the family farm.

If you expect to be affected by the Inheritance Tax changes and would like to arrange a consultation with a member of our Tax Team at any of our three offices, please call: