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Just went live on news
https://www.bbc.co.uk/news/articles/c8e9n3y28g1o [Labour U-turns on farmer inheritance tax The Labour government has announced a significant U-turn on its previous policy regarding inheritance tax for farmers. The Department for the Environment, Food and Rural Affairs (DEFRA) has raised the threshold at which farming estates will be affected by inheritance tax from £1m to £2.5m. This change means that the number of estates expected to be affected has fallen from 375 to 185. The new policy also allows spouses and civil partners to pass on estates and agricultural assets worth up to £5m before paying tax. This decision has been met with relief from many farmers, who had been protesting against the original policy, which they believed would put some farms out of business. The changes reflect a shift in the government's approach to tax policy, aiming to protect more ordinary family farms while still supporting the agricultural sector.] Last edited by arista; Today at 06:09 PM. |
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