Inheritance Tax Relief: Farms

Highlighted concerns about farmer suicides and suggested scrapping the family farm tax, investing in rural mental health services, and establishing a working group on suicide prevention.

Aphra Brandreth highlights that her petition has been signed by 494 constituents, including farmers and families. She discusses the economic importance of farming in Chester South and its impact on local food producers and high street shops.

Thanked colleagues for engaging in debate across all political parties, acknowledged the NFU's presence and importance, and emphasised the need to continue discussions honestly outside the Chamber.

Participated but did not provide a specific summary contribution from the provided text.

Spoke on behalf of 800 signatories from his constituency and discussed the mental health impacts on farmers due to changes in agricultural property relief.

A small family farm will be forced to find nearly £500,000 within a short timeframe due to the inheritance tax changes, otherwise they risk losing their livelihood. These farms are integral to rural communities, providing local services beyond agriculture.

Commends the hon. Member's work and agrees that Labour’s family farm tax is a wrecking ball to rural communities, potentially leading to the death of rural Britain and Ulster if implemented.

85% of farmers in South Devon expect to be affected by the tax changes with an average IHT bill of £637,000. Requested an opportunity to speak before the Minister concluded his remarks.

Asked if Labour’s trade deals would help farmers' profitability and protect them from foreign imports, unlike the Conservative party.

The proposal is seen as punitive by family farmers who have invested generations in their farms. The Government should set clear objectives for the sector to work towards, such as preventing land banking or raising revenue for rural public services.

Farming is a way of life that has suffered from years of Conservative cuts. The new tax could break the cycle and undermine agriculture, with farmers forced to sell their land or unable to pass it on due to inheritance tax.

Suggested that tweaks could be made but the Government must listen to farmers who are not exploiting loopholes, and called for measures to protect this vital industry.

A small farmer in Claire Young's constituency highlighted high land costs and machinery expenses, emphasizing the need for a policy that recognizes farming's unique financial situation.

The policy is hitting investment in the rural sector badly, leading to redundancies and depot closures.

The policy is fundamentally unjust, economically incoherent, anti-growth, and risks undermining the reinvestment model from generation to generation. It does not take into account the societal benefits of agriculture and could lead to a sell-off of family farms. Suggested that taxing food production amounts to the same as applying taxes to food, agreeing with Sarah Dyke's point. Argues that the current policy is based on classic Treasury dogma, which quantifies prices but ignores values, suggesting it would be better to row back on this policy now. The Minister's argument about estate values is flawed because it should focus on how estates were acquired rather than their notional value.

Asked if it would be possible to give an unlimited exemption to real farmers, based on their HMRC submissions.

Highlighting that current agricultural land sales in his constituency are acquired by private equity firms for industrial tree planting or solar farm production, rather than new family farmers. Emphasizes the economic importance of farming beyond food production.

While farmers support the principle of stopping super-wealthy individuals from minimising tax liabilities through agricultural land banking, they are concerned about how this will affect their businesses. The policy's balance should be reconsidered.

Asked whether the Government mistakenly not realised they were going to bring family farmers into inheritance tax or if it was planned all along for housing and net zero targets.

Farmers in South Cotswolds are distraught over the changes, which could affect food security and nature preservation. The policy is seen as a disastrous miscalculation.

Represents North Herefordshire where the issue has caused significant concern among 914 petition signatories. Emphasises the need for constructive dialogue between farmers and government to address food production, job generation, climate change and biodiversity.

Suggests the Labour leadership is stubbornly opposing the debate on agricultural tax and needs to pragmatically listen to farmers, public opinion, and its own Back Benchers.

Asks if changes to inheritance tax can prevent land gaming without impacting existing farming businesses.

Expressed optimism despite previous Government inaction, praised MPs who spoke against the policy, and highlighted his own opposition to a similar caravan tax proposal. Farmers provide excellent food at among the lowest prices in Europe, working for less than 1% return on investment. Asked about the average profitability of family farms and requested median data to understand the situation for most farms in England.

Farmers face severe impacts from inheritance tax changes; a 90-year-old farmer's son must sell the farm due to potential taxes. Inquired if the Minister would allow her to ask a question during his speech.

Questioned if the Treasury's figures have taken into account hobby farms, suggesting this would grossly underestimate the impact of the changes.

Explained the data from HMRC showing that 40% of agricultural property relief benefits the top 7% of estates and more than 50% of business property relief is claimed by just 4% of estates, emphasizing the need for reform due to public finance pressures.

Farmers expressed fear of losing their farms at a rally in John O’ Groats. The attachment to the land is emotional and once it’s gone, it can never be reclaimed.

Jim Allister argues that the policy will affect genuine family farms, not just land-banking corporations. He states that in Northern Ireland alone, 200 farms per year will be affected, and he calls on the Government to acknowledge this as a flawed policy.

Commended Sarah Dyke on her speech and emphasized the stress experienced by elderly farmers who are preparing for the future. Agrees with the shadow Minister's opinion and suggests increasing the threshold from £1 million to at least £5 million to address farmers' concerns.

Asked if the Government would U-turn on the family farm tax.

Highlighted that Treasury Ministers often misunderstand farming reliefs, calling them 'loopholes' when they are designed to allow multi-generational farming businesses to contribute towards food production and economic growth.

The policy dismayed constituents in the Scottish Borders, leading to tragic end of many family farms due to inability to pass property to next generation. Labour's decision will impact food security and environment by forcing reliance on costly imports. Points out that Treasury officials refused to meet NFU representatives in Scotland despite repeated requests, indicating a lack of engagement with industry concerns. He highlighted the concerns of supermarkets such as Tesco, Asda, Marks & Spencer, Lidl, Aldi, Co-op, Sainsbury’s and Morrisons who have urged the Labour Government to pause and consult due to the negative impact on food security. Requested an opportunity to speak before the Minister concluded his remarks.

The principle that legislation should not be retrospective is violated by this sudden rise in inheritance tax for farmers who did not anticipate the change seven years ago. This measure must be withdrawn to prevent widespread loss of family farms.

Farmers in Shrewsbury have struggled to make a profit and are ready to make changes for the next generation but need time to adapt. A temporary transitional extension to the taper might help.

Asked if the policy undermines the ability to address food security without discouraging land banking for tax purposes.

A family farm passing to a fifth generation would face an IHT bill of £80,000 to £100,000 under new rules. Asked the Minister to give way during the debate.

Briefly discusses his role as Chair of the Environment, Food and Rural Affairs Select Committee and declares himself as a farmer and landowner.

Questioned the Prime Minister's stance regarding the policy not targeting rich individuals within the rules. Questioned whether penalising family farming while offering a 20% threshold leaves purchasing land as an attractive option for wealth sheltering, potentially harming those intended to be protected.

Welcomes the £5 billion pledged over two years to support farming but raises concerns from local farmers about tax changes, including requests for raising inheritance tax threshold beyond £1 million, forecasting future farmland valuations, incentivising productivity improvement, supporting adaptation to climate change and exempting essential farm vehicles from taxation. She argued that improving living standards is crucial for driving up profitability and sustainability of family farms, criticising the Conservative party's budget choices as detrimental to rural communities.

Over 148,000 people have signed a petition against the family farm tax. The shadow Secretary of State for Environment, Food and Rural Affairs is present but only five Labour Members spoke during this debate despite representing large rural constituencies. Robbie Moore highlights the devastating impact on farmers such as George who faces an IHT bill over £1 million if he passes away after April 26th. Agrees with points made by colleagues from across the UK about the catastrophic consequences of the family farm tax on farming families and the wider agricultural sector. Used his role as shadow farming Minister to highlight real issues and conversations brought forward by the farming community.

Farmers support closing tax loopholes but are worried about thresholds that affect small family farms.

The Liberal Democrats urge the Government to reconsider their measures on family farms, raise revenue for public services more fairly by reversing tax cuts for big banks, increasing remote gaming duty, and raising digital service tax. They also call for £1 billion annual investment in sustainable farming, reduced trade barriers with Europe, and strengthened groceries code adjudicator.

Farmers are concerned about the policy impacting inheritance and profitability. A farmer expressed concern over losing his family's hard-earned inheritance due to this policy.

Concerned that government might give in on potential trade deal with America, allowing cheaper products to undermine UK beef and chicken farms.

Describes the Prime Minister’s promise-breaking regarding not imposing taxes on family farms and appeals to the Minister to reconsider the policy as it is harmful and damaging for rural communities, urging a change in direction.

Met with local farmers who are struggling with low profit margins of just 1%. Farmers want a consultation on how to modify the changes to better protect food security and environmental aims. Discussed the importance of time for estate planning and raised concerns about the impact of the tax on food security, climate change, and animal welfare.

Pointed out that the latest OBR analysis shows the policy will fail to achieve its outcomes and there were additional costs to HMRC spent on recouping tax. Highlighted the multigenerational element of farming and questioned whether tax planning is a viable solution for older parent farmers. Asked if the Minister would give way during a point of discussion.