Agriculture: Inheritance Tax

(asked on 4th February 2025) - View Source

Question to the Department for Environment, Food and Rural Affairs:

To ask His Majesty's Government what steps they have taken to engage with the farming community in relation to the reform of agricultural property relief for Inheritance Tax.


Answered by
Baroness Hayman of Ullock Portrait
Baroness Hayman of Ullock
Parliamentary Under-Secretary (Department for Environment, Food and Rural Affairs)
This question was answered on 24th February 2025

We actively engage with representatives from the farming industry through regular meetings and discussions, ensuring we listen to their views, understand their concerns, and take their feedback into account. The reforms to Agricultural and Business Property Relief will mean three quarters of estates will continue to pay no inheritance tax at all, while the remaining quarter will pay half the inheritance tax that most people pay, and payments can be spread over 10 years, interest-free. We are also investing £5 billion into farming over the next two years, the largest amount for sustainable food production in our country’s history, and are going further with reforms to boost profits for farmers by backing British produce and reforming planning rules on farms to support food production.

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