Legal News | 12.11.25

What to look out for in the Budget: insights for farmers

The draft legislation released by the Government in July provided some early insights into the topics likely to be addressed by the Chancellor in the upcoming Budget.

Looking ahead to the 2025 Autumn Budget, the key areas of interest to farmers are:

Agricultural and Business Property Relief:

Despite protests and concern from farmers and landowners, the draft legislation reaffirms the Chancellor’s intention to reform Agricultural Property Relief (APR) and Business Property Relief (BPR). The current 100% relief for qualifying assets will be capped at £1 million, thereafter relief will be reduced to 50%.

We will be seeking more details about how these proposals will work in practice and whether any transitional help might be given to older clients.  This should give clients with business and farming assets more clarity as they plan for the future and take steps to protect themselves from big tax bills.

Non-Transferable Relief:

This £1 million relief cap will not be transferable between spouses or civil partners. This change could significantly impact succession planning for families.

AIM shares:

The relief available for shares which are traded on the Alternative Investment Market (AIM) will be reduced from 100% to 50%.

The draft legislation provided a useful insight into the Chancellor’s potential approach, but there may well be amendments.  We are conscious that this is an anxious time for Farmers and Landowners. Our Agricultural & Landed Estates team will continue to monitor the developments closely to determine how these changes will impact clients’ estates.

If you need information in relation to succession planning for your own farm, please contact our Agriculture & Landed Estates team at mail@wansbroughs.com or 01380 733300.