Agricultural Property Relief

Farmers in Adrian Ramsay's constituency are facing a dilemma due to the high on-paper values of their farms and non-farmers buying up agricultural land. He supports increasing the threshold for inheritance tax relief but criticises those arguing for the status quo.

Farmers in her constituency are worried about losing their farms due to high land values and relatively small farm sizes. Urges reconsideration of the £1 million threshold as it will be detrimental to the rural economy.

The hon. Lady expressed concern over the impact of the policy on family farmers in north Wales and their associated businesses, mentioning Meadow Foods as an example.

The policy is uniting all people against one single measure, with the AHDB analysis saying that over 75% of farms will be affected by this measure—three times the amount that the flawed Treasury modelling said. This will take land out of production, risking both our food security and local agricultural economies.

Emphasized the financial struggles of Welsh farmers due to rising costs and policy changes. Highlighted the potential impact of changes to APR and BPR on 75% of farms in Wales.

Commemts on the stress added to farmers already under pressure from financial and climate change mitigation responsibilities.

Agrees that increasing the threshold and raising rates for very wealthy landowners could have achieved Treasury's outcome, but would not support this route.

Expresses emotional attachment to farming land and highlights difference between buying/selling land for fiscal purposes versus family-owned farms. Suggested that the policy could lead to the forced sale of farms due to heavy borrowing and foreclosures by banks. Points out that the issue disproportionately affects Northern Ireland due to higher land prices compared to Scotland or England. Stressed the emotional importance of land to farmers and farming families, emphasizing the need for inheritance tax relief that supports family farms while acknowledging the broader context of public finances and services.

Emphasized the importance of farmers in rural communities and expressed concern over the financial burden placed on farming families if APR were removed. Highlighted that approximately 70% of farms in Northern Ireland would be affected. Emphasises that raising the threshold from £1 million to £5 million would save family farms and addresses concerns specific to Northern Ireland where land values are higher. Urges the Minister for clarity and reassurance. Critiqued the rateable value system used in farm valuations, suggesting it does not accurately reflect current land values.

Acknowledged the right hon. Gentleman's assessment of the Treasury, suggesting that civil servants have multiple options to address inheritance tax changes affecting agricultural communities.

The hon. Gentleman cited research by Scottish Land and Estates showing that the average working farm in the UK is worth about £1.8 million, questioning the Government’s argument that this policy targets only the richest landowners.

Discusses impact of changes on tenant farmers in Ynys Môn, highlighting loss of homes, businesses, and future for generational farming communities.

The right hon. Gentleman raised concerns about the number of estates affected by the changes, arguing that the impact is likely to be much greater than the UK Government’s estimate of 500 estates annually. Discussed the complexities of agricultural property relief, business property relief, and inheritance tax implications for family farms. Raised concerns over HMRC guidance and Treasury calculations not including all affected farms as per AHDB's report.

Pointed out practical difficulties for farmers with a £400,000 inheritance tax bill despite the 10-year payment period.

Stresses that 75% of working farms will be affected by the changes, highlighting specific examples such as Great Ash farm in her constituency which exceeds the £1 million threshold.

The Government's policy on APR is seen as a vindictive approach towards the farming community. Despite claiming that only 27% of farms will be affected, research indicates that up to 75% of commercial family farms will face significant challenges due to increased inheritance tax. Interrupted Torsten Bell, questioning why the Government does not consider the value and size of agricultural units when projecting impacts on family farming businesses.

Farmers would have voted for Labour specifically on that pledge from the Environment Secretary. They certainly would not now. We should call it what it is: an outright betrayal. The assault on British family farms will undermine our food security, making our already uncertain place in an increasingly dangerous world even more precarious.

Steve Witherden highlights the impact of changes to Agricultural Property Relief on family-run farms, particularly a case in his constituency where a lifelong farmer's son may lose control of the farm due to inheritance tax. He calls for raising the threshold and an exemption for elderly farmers who are too late to plan for these changes.

Responded to concerns about the inheritance tax changes, emphasizing that agricultural property relief and business property relief will continue with significant support for small farms. Raised concerns about supermarkets not supporting farmers and the need for reform of reliefs to stabilise public finances.

The shadow Secretary of State raised concerns about the Government's failure to record farm suicides, indicating a lack of proper assessment regarding the human impact of policy changes.