Written Question·Treasury·UIN 111188

Agriculture: Inheritance Tax

Tabled: 5 February 2026

Answered: 12 February 2026

Question

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

Dan Tomlinson

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...

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