Norfolk farmers urge government to scrap inheritance tax changes

Summarised from 2 outlets · Updated 23 Oct, 07:02 · Archive

Norfolk farming leaders are calling for the government to completely remove inheritance tax changes affecting farms.

Norfolk farming leaders have made a final appeal to the government to completely scrap changes to inheritance tax relief for agricultural property. The changes were first announced two years ago by the previous chancellor Rachel Reeves, who proposed removing inheritance tax relief for farms valued above £1m. This sparked widespread protest from the farming community.

After months of campaigning, the government watered down the proposals at the end of last year by raising the threshold to £2.5m to limit the impact on smaller farms. However, farming leaders argue this threshold is still not high enough. Nick Deane, who farms at Hoveton and represents Norfolk on the National Farmers' Union council, said the NFU has 'continued to push at all levels of government for the full removal' of the changes to Agricultural Property Relief and Business Property Relief.

Farming leaders are urging Prime Minister Andy Burnham and Chancellor John Healey to scrap the tax changes entirely at the forthcoming Budget on 28 October. Tom Bradshaw, NFU president, has raised the issue directly with the Prime Minister. Deane said that 'current pressures emphasise just how important it is to build resilience in the farming industry' and that removing the changes is essential to 'deliver the national food security the government is asking us to deliver'.

How it is being reported

• Farming leaders want damaging 'family farm tax' to be axed in autumn BudgetAs the chancellor prepares his first Budget speech, Norfolk NFU leaders have made a final plea for the government to axe its damaging "family farm tax".Eastern Daily Press · 23 Oct, 06:00
• Farming leaders want damaging 'family farm tax' to be axed in autumn BudgetAs the chancellor prepares his first Budget speech, Norfolk NFU leaders have made a final plea for the government to axe its damaging "family farm tax".Norwich Evening News · 23 Oct, 06:00

In this story: Norfolk · National Farmers' Union · Rachel Reeves · Nick Deane · Tom Bradshaw · Andy Burnham · John Healey

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