IHT draft legislation: Family farms may now sell assets to pay tax liabilities

Law firm Wedlake Bell said Inheritance Tax changes could also penalise vulnerable families and those without the means to undertake complex estate planning

clock • 2 min read
Simon Blackburn, head of agriculture, rural and landed estates at law firm Wedlake Bell, said: "Over time, this may compel some farming families to sell assets to meet tax liabilities, potentially undermining the scale and sustainability of their operations - particularly in the context of diminishing subsidies."
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Simon Blackburn, head of agriculture, rural and landed estates at law firm Wedlake Bell, said: "Over time, this may compel some farming families to sell assets to meet tax liabilities, potentially undermining the scale and sustainability of their operations - particularly in the context of diminishing subsidies."

Impending changes to Inheritance Tax could see farmers facing the reality of selling their generational family businesses in order to pay a tax bill. In response to the publication of the Government's...

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