Tom Boadle
Senior News Editor, Business at Sky News
Senior News Editor @SkyNews | running the business and economics desk | tweets auto-delete
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Oct 21, 2024 |
news.sky.com | Tom Boadle |Beth Rigby
Farmers passing on land used for agricultural purposes have previously not incurred any inheritance tax. But from April 2026, the chancellor announced in the budget last week, any value over £1m will be taxed at an effective rate of 20% (the 40% inheritance tax threshold but with 50% tax relief). The National Farmers Union has warned this could force farmers to borrow money or sell off parcels of land to pay inheritance tax.
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