Family Farm Tax

A Government analyst has been recognised for his work which could see Inheritance Tax reliefs taken away from family farms businesses next year. However, farmers said they feel the award was an insult to rural communities

South Devon MP Caroline Voaden said 85% of farmers in her constituency have told her that they could be affected by IHT changes, with average tax bills starting at £637,000

Will MPs stand up for farmers before legislation receives Royal Assent?

Could young farmers walk away from the sector due to IHT?

Defra Secretary Steve Reed said British farming has a bright future, but can Labour overcome IHT's burden on generational family farms?

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

Knight Frank said it is 'disheartening' that APR and BPR, which were Labour-originated reliefs introduced during periods of national economic stress to help family businesses, could now be taken away from farmers

The Government said changes to Inheritance Tax is not expected to have a 'material impact' on food security, contradicting the concerns raised by farmers and the wider industry

Financial advisory firm TBA Wealth Management said there has been a surge in business owners seeking whole of life insurance policies to protect their property or business assets from being sold due to IHT

NFU Cymru hits out at new SFS saying loss of 40% of payments will leave farmers facing a 'cliff edge'