Thousands of UK farmers protest against inheritance tax changes

Thousands of UK farmers protest against inheritance tax changes

Thousands of UK farmers took to the streets in protest against the proposed changes to inheritance tax laws that will significantly impact their businesses. From April 2026, inherited agricultural assets in the UK worth more than £1m, which were previously exempt, will now be liable to inheritance tax.

The new legislation has sparked outrage among the farming community, who argue that the changes will put their livelihoods at risk and could force many family-owned farms out of business. Farmers fear that they will have to sell off land and assets in order to pay the hefty tax bill, leading to the consolidation of farms and the loss of traditional agricultural practices.

The protest, organized by various farming associations and unions, saw farmers from all over the UK coming together to show their opposition to the inheritance tax changes. Many held banners and signs calling for fair treatment for farmers and demanding that the government reconsider the new legislation.

The government, however, has defended the changes, stating that they are necessary to ensure a fair and sustainable tax system. They argue that wealthy individuals should not be able to avoid paying inheritance tax on valuable assets like land, while others are required to pay tax on their inherited wealth.

As the debate continues, farmers remain united in their fight against the inheritance tax changes, calling for a solution that will protect their way of life and support the future of British agriculture.

Watch the video by BBC News

Video “Thousands of UK farmers protest against inheritance tax changes | BBC News” was uploaded on 11/20/2024 to Youtube Channel BBC News