Government waters down inheritance tax plan for farms
NeutralWorld Affairs
- The government has announced an increase in the inheritance tax threshold for farms from £1 million to £2.5 million, a move aimed at alleviating financial pressures on agricultural businesses.
- This adjustment is significant for farmers, who have expressed concerns about the previous tax implications on their livelihoods, indicating that the higher threshold may provide some relief and stability for farm profitability.
- The broader context reveals a growing anxiety among farmers regarding inheritance tax, with many feeling bewildered and frightened about the potential impact on their operations and the future of farming in the region.
— via World Pulse Now AI Editorial System