I’ve now found some time to have a proper look at the 100+ page House of Lords Economic Affairs Finance Bill Sub-Committee report on the proposed changes to Business Property Relief and the inheritance tax changes to pensions. Whilst the scope of their report consciously doesn’t address the merits of the policies themselves, it is a damning commentary on the government’s failures to consider the practical aspects of bringing these measures into force.
Regardless of the politics of it, this should be a wake-up call for any party trying to bring in huge tax policy changes without proper consultation and careful thought about the wider implications. I only hope that the government heeds the dire warnings before these come into force in April 2026 and April 2027 respectively (but I’m not holding my breath).
