Changes to the geographical scope of agricultural property relief and woodlands relief for Inheritance Tax
This measure restricts the geographical scope of agricultural property relief and woodlands relief on and after 6 April 2024 to the UK only.
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This measure restricts the geographical scope of agricultural property relief and woodlands relief to property located in the UK only. This means property located in the Channel Islands, the Isle of Man, the EU, Norway, Iceland and Liechtenstein will be treated the same as other property located outside the UK.
This will have effect on and after 6 April 2024 in relation to:
- transfers of value
- other occasions on which tax falls to be charged
- other events in respect of which additional tax falls due under the Inheritance Tax Act 1984
Updates to this page
Last updated 6 March 2024 + show all updates
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Update to reflect change to the draft legislation on death in relation to lifetime transfers made before 6 April 2024.
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First published.