IHT planning for farm succession
From 6 April 2026, a combined £1 million allowance applies to assets qualifying for 100% APR and BPR, with relief dropping to 50% above that threshold. Maxwells advises farming families on lifetime gifting strategies, maximising the allowance through spouse transfers, updating wills and succession plans, the role of trusts in estate planning, and insurance as a means of covering potential IHT liabilities without requiring a sale of the farm.