Farmers Protest Against Inheritance Tax Cap

Hundreds of farmers convened in Ross-on-Wye to demonstrate against government proposals to alter inheritance tax regulations. Effective April 2026, inheritance tax relief for agricultural assets will be capped at £1 million, a change from the current exemption for farming property. Emma Mapp, a Tenbury farmer and the event’s organiser, characterized the gathering as a “show of strength” for farmers who were unable to attend a larger protest in London, which saw thousands participate. She stated that the new tax feels like “the final nail in the coffin” for the industry. Mrs Mapp added, “Many farms are running on empty, there’s no reserves left.” David Parker and his daughter Tilly operate a farm in Vowchurch, Herefordshire, which has been in their family for more than a century. Mr Parker remarked that the £1 million threshold “sounds like a huge amount, but in fact it’s a small farm of about 90 acres.” He elaborated, “If you want to pass it onto your children, they’re going to spend the next 10 years paying possibly £20,000 or £30,000 a year… to finally achieve their goal of becoming farmers.” Nicky Robinson and her sisters, who are fourth-generation farmers near Ledbury, are set to inherit the family farm from their father. Ms Robinson indicated that while the family wishes to continue operating the farm, the inheritance tax would render their future “unviable.” She explained, “Farmers are asset-rich, cash-poor – and to find that money is going to be impossible.” She further stated, “We will have to sell land, which makes it less viable to carry on the farm.” She concluded by warning, “Ultimately, less food production will happen in this country, there’ll be more food imported, and prices will go up.” Prime Minister Sir Keir Starmer acknowledged farmers’ concerns and affirmed that he “wants to support” them, though he also noted that “the vast majority” would remain unaffected. For further updates, follow BBC Hereford & Worcester on BBC Sounds, Facebook, X, and Instagram. Copyright 2024 BBC. All rights reserved. The BBC disclaims responsibility for the content found on external sites. Information regarding our external linking policy is available.