Farmers descended on London for the second time to protest changes to inheritance tax introduced by the Labour government at the last budget.
Chancellor Rachel Reeves sparked outrage after she announced in October that inheritance tax would apply to agricultural assets worth more than £1 million from April 2026.
Farms will be charged at a tax rate of 20 per cent – half the usual rate of 40 per cent.
Daventry’s Conservative MP Stuart Andrew said farmers were worried for their livelihoods because of the proposed changes, even though the change is only expected to affect about 2,000 estates each year.
But farmers’ angst could be driven by much more than changes to inheritance tax, as Ed Conway explains here:
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