Farmers Hold Beach Demonstration Concerning Inheritance Tax

A demonstration was held on a beach, aiming to persuade the government to address farmers’ concerns regarding inheritance tax modifications. This gathering, involving dozens of participants, occurred on Bigbury Beach in the South Hams, Devon, prompted by new inheritance tax regulations unveiled in the Budget. The organisers of the March for Farmers inscribed “Listen to us” in the sand, stating that the government had “not responded to concerns” about the alterations. Cathy Case, the deputy chairperson for Devon NFU, expressed that the inheritance tax adjustments posed a threat of causing “irreparable damage to farming businesses”. Commencing April 2026, agricultural producers will be required to pay 20% on the valuation of their land and assets exceeding £1m. The Bigbury’s March for Farmers urged the government to grant farmers additional time to formulate their succession plans. The organisers stated: “We want our local farming families, with small to medium-sized farms, to be able to afford to keep farming the same fields that their ancestors have done for generations.” They added: “We are concerned that land values push many farms into the liable tax bracket and that many may not be financially robust enough to make contingency for this tax burden.” In the south west, the typical farm spans 170 acres, and the price of agricultural land ranges from £9,500 to £21,000 per acre. Ms Case further commented: “The message we want to make loud and clear in our local village is that farmers need to be listened to. “The changes are real and that lack of confidence in their future could be crippling for businesses.”” The prime minister had previously indicated an understanding of farmers’ worries but also stated that “the vast majority” would remain unaffected. Government studies last year revealed an average farm profit of approximately £45,300; however, this amount might be inflated since the underlying survey omitted farms generating the lowest income. The government asserts that these modifications will impact the 500 wealthiest estates annually, yet the NFU and the Country Land and Business Association (CLA) have projected that as many as 70,000 farms valued over £1m might be impacted. For updates, follow BBC Devon on X, Facebook, and Instagram. Story ideas can be sent to spotlight@bbc.co.uk. Copyright 2024 BBC. All rights reserved. The BBC bears no responsibility for the material on external websites. Information regarding our external linking policy is available.