Tax Alert - Six Months until the BPR Changes

By Michael Court, Tax Consultant, McEwan Wallace

From 6 April 2026, major reforms to Business Property Relief (BPR) will take effect — significantly changing how business assets, such as shares in a trading company, are treated for Inheritance Tax (IHT).

These changes could dramatically increase future IHT bills for business owners, trustees, and families.

What's changing?

• A new £1 million cap on 100% relief for BPR
• Any value over this cap will qualify for relief at only 50%
• Only 50% relief for AIM-listed shares

Until 6 April 2026, transfers can still be made under the current rules, which have unlimited relief, subject to certain parameters.

After that, this window closes and for any gifts or transfers onto trust will be bound by the £1m relief.

Contact us today to review your position and secure existing reliefs before the rule changes.

McEwan Wallace — by your side.