The United Kingdom announced it would amend its plan to raise taxes against farms following months of protests after an inheritance tax charge on farms was announced in 2024.
The proposal would have changed the rules for agricultural property relief and business property relief, adding a tax rate of 20% on assets valued over £1 million.
“Today’s announcement, which sees the tax threshold raised from £1m to £2.5m, will come as a huge relief to many,” said Tom Bradshaw, president of National Farmers’ Union of England and Wales. “While there is still tax to pay, this will greatly reduce that tax burden for many family farms, those working people of the countryside.”
