Inheritance tax: 'Betrayed' farmers take Budget protest to London

Published On Nov 19, 2024, 2:43 AM

The National Farmers' Union (NFU) is staging a rally in London against the government’s plans to change inheritance tax rules for farms, claiming that these changes will oblige farms valued over £1 million to pay a reduced inheritance tax of 20% starting April 2026, rather than the usual 40%. Farmers express significant concern regarding their ability to pass their farms to the next generation, with fears that many will be forced to sell their land to wealthy investors to cover tax bills. The government, however, claims that the changes will only impact a small number of estates. The proposed changes have led to strong sentiments within the farming community, indicating potential unrest.