As we predicted earlier this week, following HM Treasury’s response to the Institute’s letter on this issue, on L-day earlier this week the Government published draft finance bill clauses which confirm that the changes to APR and BPR will be proceeding as planned from April 2026. In the draft legislation as it currently stands, none of the recommended mitigations proposed by the Institute have been included. Read the Institute’s Press Release reacting to this in which we are seeking a special derogation from these changes for Northern Ireland, given the disproportionate impact of this in the region on the agricultural sector and family owned businesses.
The Institute is currently considering what further action is needed on this important issue and is also seeking to discuss this with local government.
A full report on the other key announcements from L-day will feature in Chartered Accountants Tax News on Monday 28 July. However, in the meantime, it is noteworthy that buried amongst the L-day publications is welcome confirmation that the Government has shelved Making Tax Digital for corporation tax.
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