Farmers across the UK are expressing their anger over the new inheritance tax relief limit set by the Labour Party. The National Farmers’ Union has called it a “disastrous budget” for family farms, stating that it will hinder the next generation’s ability to continue producing British food. Many farmers have taken to social media to share their dismay, with even public figures like Jeremy Clarkson and Kirstie Allsopp criticizing the decision.
In the recent budget announcement, the Chancellor revealed that inheritance tax relief for farms would be limited to £1m, with a 50% relief above that amount, starting in April 2026. This change has raised concerns among farmers who have relied on the APR tax relief to pass down their small family farms through generations.
Farmers like Richard Payne from Somerset fear that the new limit will make farming businesses unviable, pushing smaller farms out of the industry and paving the way for larger corporations to take over. Holly Purdey, a fellow farmer, highlighted the importance of longevity and generational thinking in caring for the land, suggesting that the new tax relief changes could disrupt this tradition.
Despite the government’s reassurance of supporting farmers and acknowledging their crucial role in feeding the nation, many in the farming community feel betrayed by the sudden shift in policy. Victoria Vyvyan, president of the Country Land and Business Association, described the change as a “betrayal” and warned of the negative impact it could have on British farming livelihoods.
Shadow secretary of state for rural affairs, Steve Barclay, criticized the Labour Party for breaking their promise to farmers and changing the tax relief. On the other hand, Tom Bradshaw, president of the NFU, expressed disappointment in the government’s decision, stating that it would hinder the future of family farmers in the UK.
Despite the government’s claim that the change would only affect a small number of estates each year, farmers remain concerned about the long-term implications of the new inheritance tax relief limit. The uncertainty surrounding the future of family farms has sparked outrage and frustration within the farming community.
As farmers grapple with the implications of the new tax relief limit, the future of family farms in the UK remains uncertain. The government’s decision has highlighted the challenges faced by small-scale farmers and the need for continued support and protection for the agricultural industry.