UK Budget Sparks Backlash Over Inheritance Tax on Farms

Chancellor Rachel Reeves defends controversial tax changes amid criticism from farmers and entrepreneurs.

• Chancellor Rachel Reeves has introduced a 20% inheritance tax on farmland estates worth over £1 million, effective April 2026.
• The tax change aims to prevent the wealthy from using agricultural land to avoid inheritance taxes but has faced strong opposition from the farming community.
• Critics, including James Dyson and Jeremy Clarkson, argue the tax will harm entrepreneurship and force family farms out of business.
• The National Farmers Union has expressed significant concern, with some members calling for militant action against the policy.
• The government claims most farms will not be affected and suggests the measure will encourage better succession planning.

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