Today the Government has just announced a partial climbdown on the family farm tax.
The Government has announced that the level of the Agricultural and Business Property Reliefs threshold will be increased from £1m to £2.5m when it is introduced in April 2026. This allows spouses or civil partners to pass on up to £5m in qualifying agricultural or business assets between them before paying inheritance tax, on top of existing allowances.
Over the past year I’ve heard from farmers across Meriden and Solihull East the anxiety, stress and fear this cruel tax has caused and while I welcome this decision made by the Chancellor, it is one that should have never been taken in the first place.
Our farmers and our family businesses deserve better than this
