Watch this short video for the facts about Agricultural Property Relief
For those who own farmland and buildings, Agricultural Property Relief, or APR, can play an important role in protecting the value from Inheritance Tax.
Under the current rules, if a person owns and farms their own land they could potentially qualify for APR after two years, taking the agricultural value of the land outside their estate.
If they rent it out for agricultural purposes, APR could potentially be available after seven years.
There are a number of conditions which must be satisfied before APR can be applied.
Watch our short animated guide to Agricultural Property Relief for the rules and how they may apply to you.
Taxation depends on individual circumstances and may change in the future.
Inheritance tax advice is not regulated by the Financial Conduct Authority or the Prudential Regulation Authority
NFU Mutual Financial Advisers advise on NFU Mutual products and selected products from specialist providers. When you contact us we'll explain the advice services we offer and the charges.
For security and training purposes calls may be recorded and monitored.