Axe the family farm tax (inheritance tax)

Background

The UK Government’s Budget on October 30 announced changes to Agricultural Property Relief (APR) and Business Property Relief (BPR). Chancellor Rachel Reeves announced that from April 2026 combined business and agricultural assets worth more than £1m will have an inheritance tax at 20%.

Additional details

If this inheritance tax change goes ahead, it will create financial jeopardy to many farming families who are already at breaking point financially. The new inheritance tax threshold will put so many generational farms at risk. Most farmers don’t have spare cash to pay this and their assets are tied up in the land value. So many family farms may have to sell land or even their farms to pay the inheritance tax.