Tax experts question £3m family farm IHT exemption as not ‘realistic’ December 27, 2024 The government’s claim that family farms will benefit from a £3m tax exemption has been questioned by tax experts. Prime Minister Sir Keir Starmer has argued in defence of Chancellor Rachel Reeves’ move in the Budget to charge inheritance tax (IHT) on agricultural land worth above £1m. He said earlier this month that in a [...]
‘Christmas comes early’ as inheritance tax receipts jump on threshold freeze December 20, 2024 The amount of inheritance tax (IHT) brought in by the government ticked up to £600m in November, as frozen thresholds pushed more estates into paying the tax. “Christmas has come early for the government,” said Shaun Moore, tax and financial planning expert at Quilter, with the higher tax receipts allowing the amount the government borrowed [...]
Hedge fund managers could buy land, MPs told, as Tories fail to scrap ‘farm tax’ December 4, 2024 Hedge fund managers could buy up farmland if UK farmers sell up to avoid the inheritance levy, MPs were told, as the Tories brought a vote on the so-called ‘family farms tax’. Conservative MPs used an opposition day debate on Wednesday to bring a Commons vote on Labour’s Budget measure which would see farmers pay [...]
Labour urged to scrap ‘vindictive’ farm tax as Tories set to force vote December 1, 2024 Labour MPs are being urged to back scrapping the “vindictive” changes to inheritance tax (IHT) on farms, as the Conservative Party prepares to bring a vote on the issue. Tory MPs are set to use their opposition day debate on Wednesday, December 4, to insist Parliament hold a vote on Labour’s controversial move for farmers [...]
Jeremy Clarkson backpedals on previous claim he bought farm for tax reasons November 23, 2024 Jeremy Clarkson has backpedalled on his previous comments about why he bought his farm, saying he thought it would be a “better PR story if I said I bought it to avoid paying tax”. The TV presenter and journalist defied doctors’ orders by joining thousands of farmers in London on Tuesday to protest against agricultural [...]
Tractors circle Westminster as farmers protest inheritance tax rise November 19, 2024 Thousands of farmers marched on Westminster today in protest against the government’s plans to impose inheritance tax on farms. The Chancellor Rachel Reeves has been urged to meet with representatives from the industry after she unveiled plans in the Budget to impose inheritance tax (IHT) on farms worth more than £1m from April 2026. The [...]
How Arla Foods boss went from selling cigarettes to Lurpak and Cravendale November 15, 2024 A globe-trotting career that began selling cigarettes at British American Tobacco and has led to heading up the UK arm of dairy giant Arla Foods is maybe not what Bas Padberg could have predicted when he started out in the early 1990s. The managing director of the group behind Lurpak, Cravendale, Skyr and B.O.B milk [...]
‘Disaster Budget will kill UK farming’, warns chicken king Boparan November 12, 2024 Entrepreneur Ranjit Singh Boparan, whose empire ranges from Bernard Matthews to Carluccio’s, has warned the autumn Budget is a “disaster for business” and will “deliver a final fatal blow to the thousands of small family-owned farms”. Boparan added that the “inheritance tax raid” on farms announced in the Budget on 30 October “risks supply being [...]
Labour’s farm tax is pure class war November 6, 2024 Socialists targeting landowners is nothing new, but don’t expect the countryside to take Labour’s punitive farm tax lying down, says James Price “Buy land – they ain’t making any more of it”. With apologies to the Dutch and their reclamation efforts, this has been solid investment advice for a long time. But that’s about to [...]