We ask the Government to scrap the proposed £1 million cap on Business Relief for Inheritance Tax from 2026. We believe this policy may force the sale of family businesses and farms, penalising founders and heirs for owning illiquid, long-term assets tied up in active enterprises.

We believe the 2026 changes to Business Relief mean that if a founder dies owning a business or farm, their heirs may face large tax bills with no liquid assets to pay them — which may lead to distressed sales that are below value. We believe it risks the loss of UK-owned businesses and farms, without raising meaningful revenue. The tax is calculated on death, even if the business later sells for less. We urge the Government to reverse this policy.