In this episode, James Frankland, Partner in our Agriculture and Estates team, sits down with Lisa Millington, Head of Agricultural Private Client, to give you the latest update on the rollercoaster that has been Inheritance Tax reforms for farmers and rural business owners.

James and Lisa begin with the Autumn 2025 budget, unpacking how Rachel Reeves’ announcement lived up to the hopes and fears of the farming community, and in particular the announcement that the relief allowance would be transferrable between spouses after all.

The ...