Glossary - Agricultural property relief (APR)
Description
Agricultural property relief (APR) is a UK inheritance tax relief that reduces or eliminates the value of qualifying agricultural property from an estate for inheritance tax purposes. It is designed to help farming land and buildings pass between generations without being broken up to meet tax liabilities.
Alternate Names
- Inheritance tax (IHT)
- Agricultural value
- Qualifying agricultural property
- Lifetime transfer
- Business property relief (BPR)
