The House of Lords Economic Affairs Finance Bill Sub-Committee will today take evidence from two panels of witnesses about reforms to business property relief (BPR) and agricultural property relief (APR).

This evidence session, which is open to the public, will be held in Committee Room 3 of the House of Lords and streamed live and on demand on Parliament TV.

At 3.30pm the sub-committee will hear evidence from:

+ Natalie Butt, Director, Private Client, Crowe U.K. LLP

+ Steve Rigby, Chair, Family Business UK

+ James Brougham, Senior Economist at Make UK.

At 4.30pm the sub-committee will hear evidence from:

+ Tom Bradshaw, President, National Farmers Union (NFU)

+ Jeremy Moody, Secretary and Adviser, Central Association of Agricultural Valuers (CAAV)

+ Judicaelle Hammond, Director of Policy & Advice, Country Land and Business Association (CLA).

Questions the sub-committee is likely to ask include:

+ How aware are business owners about the proposed changes to business property relief?

+ Is the proposed timetable for implementation realistic? What planning actions are business owners taking to prepare for the reduced relief?

+ Has the government accurately assessed the impact of the proposed changes to BPR, particularly on family businesses and SMEs?

+ What challenges will family farms face in meeting inheritance tax liabilities within the six-month window?

+ How easy will it be for family farms to determine and agree with HMRC the market value of different types of farm assets?

+ What issues could arise if farmers and business owners, particularly older ones, change existing plans before April 2026?