Tax experts appearing at a House of Lords committee warned that overhaul of BPR will not produce sufficient revenue to justify complex new rules from April 2026.

House of Lords Finance Bill Sub-Committee questioned tax experts about government plans to change agricultural and business property reliefs for inheritance tax.

Committee chair Lord Liddle asked if there was enough awareness about the IHT changes for business and whether HMRC would be able to cope with the increased workload and what guidance was available for businesses.

Baroness Fairhead asked: ‘What advice could HMRC give to help this process?’

Katherine Ford, technical manager for tax at ICAEW, said that: ‘We know that the farmers have had a lot of publicity, but among business owners, that is worryingly low. You’ve got a large swathe of business owners who don’t realise what’s happened because it’s all been about the farmers.’

She also