UK Raises Farm Inheritance Tax Threshold
In its statement, the government confirmed that the threshold for Agricultural and Business Property Reliefs will be lifted when the measure takes effect in April 2026.
The previous year, Treasury head Rachel Reeves had unveiled a proposal to levy a 20% tax on inherited agricultural assets valued above £1 million. That plan provoked strong opposition from farmers.
Critics branded the initiative a “family farm tax,” arguing it would prevent many families from transferring their farms to the next generation.
The policy reversal came after persistent lobbying by a group of Labour Members of Parliament who pressed for the threshold to be revised.
Environment Secretary Emma Reynolds declared: "We have listened closely to farmers across the country and we are making changes today to protect more ordinary family farms."
The National Farmers' Union hailed the decision, stating: "These changes mark a huge victory for British farmers."
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