Question to the HM Treasury:

To ask His Majesty's Government what representations they have received from the Farmers' Union of Wales in the past nine months regarding the impact of their policy of inheritance taxation for agricultural land.

The Government has received representations about inheritance tax from several agricultural organisations in the past nine months, including from the Farmers' Union of Wales. The Exchequer Secretary to the Treasury and other Ministers have also participated in several meetings with agricultural organisations, including with the Farmers’ Union of Wales, since the Budget in October 2024 to listen to their views.

After listening, the Government continues to believe its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances in a fair way. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.