The Agri Brigade
AMID continuing uproar orchestrated by the likes of the National Farmers Union and the Country Landowners Association, the government is said to be considering changes to its proposal to impose inheritance tax (IHT) on farmland.
As matters stand, from April 2026 IHT will be applied to farmland owned by estates above a threshold of £1m. In reality, if the married couple allowance applies and other IHT tax reliefs are included, the IHT threshold for most farming families is more likely to be £3m. Once this is reached, IHT will only be payable on farmland at 20 percent, half the normal 40 percent charged on other inherited assets above a £325,000 threshold.