PM: Government is ‘for farmers’ and most will be unaffected by tax change
3 months, 3 weeks ago

PM: Government is ‘for farmers’ and most will be unaffected by tax change

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Government is “for farmers”, the Prime Minister has said, as he reiterated his position that the majority of farms will not be affected by agricultural inheritance tax changes. “We are also for the farmers and the pensioners.” The Prime Minister also reiterated his position that the vast majority of farms will be “completely unaffected” by changes to agricultural inheritance tax. “In a typical case, which is, you know, parents passing, initially to each other, to the other spouse, when one dies, and then on to a child, so that’s a typical case, the threshold before inheritance tax is paid is £3 million.” He added: “But £3 million means that the vast majority of farms are completely unaffected. Vast majority of farmers won’t be affected.” Asked on BBC Radio Bristol about the £3 million threshold figure, and put to him that the Chancellor Rachel Reeves had said the threshold was £1 million, he said: “Well, there is an allowance for the farm land itself, which is £1 million.

History of this topic

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4 months ago
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