Farming groups press Chancellor to rethink inheritance tax on farms ahead of Budget
Farming groups are urging Chancellor John Healey to reverse changes to inheritance tax relief for farms and family businesses at next week's Budget.
Farming groups are asking Chancellor John Healey to undo changes to inheritance tax on farms and family firms, ahead of next week's Budget. Opposition politicians say there is a "real chance" the changes could be scrapped.
The rules stem from Rachel Reeves' first Budget in 2024, which cut the relief that let farms and family businesses pass to children and grandchildren at a discount. Relief was reduced for business assets above £1 million, and farmers warned it could force families to sell land. Before Christmas the government raised the threshold to £2.5 million, and married couples can combine their allowances to reach £5 million.
Conservative shadow farming minister Robbie Moore wants full relief restored, and the Countryside Alliance has written to the Chancellor asking for inheritance tax on farms to be scrapped as part of a wider rural package. Andy Burnham also suggested during the Makerfield by-election that he would be willing to reconsider the policy.
Based on reporting by Yorkshire Post (26 October 2026). Information only, not advice.
Information only. This is general information, not financial, tax or legal advice, and not a personal recommendation. Tax rules depend on your individual circumstances and can change. Please speak to a qualified, FCA-regulated adviser or a solicitor before acting.