Agriculture: Inheritance Tax
Commons · Question 111188 · Tabled 5 Feb 2026 · Treasury · Official record
Answered 12 Feb 2026
Question
Asked by Ben Lake
To ask the Chancellor of the Exchequer, how will property subject to tenancies agreed under (a) the Agricultural Holdings Act 1986 and (b) the Agricultural Tenancies Act 1995 be valued for the purposes of calculating an estate's inheritance tax liability.
Answer
Answered by Dan Tomlinson, 12 Feb 2026
The reforms to reliefs for agricultural and business property do not affect the existing rules on how assets are valued. The general rule for inheritance tax is that assets are valued at their ‘open market value’ at the date of death. If a property is sub...