In this week’s Enews, there is news on the Inheritance Tax relief for farmers and businesses. We also have a date for the Spring Statement and scam warnings for self assessment taxpayers to update you on.
Inheritance Tax reliefs threshold to rise to £2.5 million for farmers and businesses
The level of the Agricultural Property Relief (APR) and Business Property Relief (BPR) thresholds will be increased from £1 million to £2.5 million, the government has announced.
The change will allow spouses or civil partners to pass on up to £5 million in qualifying agricultural or business assets between them before paying Inheritance Tax (IHT), on top of existing allowances.
The government says the changes come after it listened to concerns of the farming community and businesses about the reforms.
It says it will protect more farms and businesses, while maintaining the core principle that the most valuable agricultural and business assets should not receive unlimited relief.
The change will be introduced to the Finance Bill in January and will apply from 6 April.
Environment Secretary Emma Reynolds said:
‘Farmers are at the heart of our food security and environmental stewardship, and I am determined to work with them to secure a profitable future for British farming.
‘We have listened closely to farmers across the country and we are making changes today to protect more ordinary family farms. We are increasing the individual threshold from £1m to £2.5 million which means couples with estates of up to £5 million will now pay no inheritance tax on their estates.
‘It’s only right that larger estates contribute more, while we back the farms and trading businesses that are the backbone of Britain’s rural communities.’
Internet link: GOV.UK
Spring Statement set for 3 March 2026
The Spring Statement has been scheduled for 3 March 2026 by the Chancellor of the Exchequer Rachel Reeves.
Ms Reeves has asked the Office for Budget Responsibility to prepare an economic and fiscal forecast for publication on that date.
The government said:
‘As set out at the Budget, the Spring forecast will not make an assessment of the government’s performance against the fiscal mandate and will instead provide an interim update on the economy and public finances.
‘The government will respond to the March forecast through a statement to Parliament, in line with the government’s commitment to deliver one major fiscal event a year at the Budget.
‘This approach gives families and businesses the stability and certainty they need and supports the government’s growth mission.’
Internet link: GOV.UK
Over 4,800 self assessment scams reported
More than 4,800 self assessment scams have been reported since February 2025, according to data released by HMRC.
The tax authority says scammers are using persuasive and threatening tactics to target people when they are more likely to receive correspondence from HMRC. The scammers send fake tax demands or attempt to pressurise people to hand over personal information.
In the last 10 months, taxpayers have reported more than 135,500 HMRC-related scams, including 29,000 scams referring to fake tax refund claims.
HMRC is reminding customers to be vigilant as the self assessment deadline nears and check whether the email, SMS message or phone call claiming to be from HMRC is genuine on GOV.UK.
The self assessment deadline to file returns and pay any tax owed for the 2024/25 tax year is 31 January 2026.
Lucy Pike, HMRC’s Chief Security Officer, said:
‘Millions of people file a tax return each year and scammers mimic HMRC to try and catch unsuspecting victims out.
‘I’m urging people to stay vigilant and if any emails, text messages or phone calls appear suspicious – don’t be lured into clicking on links or sharing your personal information – report it directly to HMRC. Just search ‘report an HMRC scam’ on GOV.UK to find out more.’
Internet link: HMRC press release
