The government has confirmed that inheritance tax relief for farmers will increase, lifting the threshold from £1m to £2.5m. The move follows widespread concern within the farming community, with concern raised over plans set out in last year’s Budget that would see a 20% tax on inherited agricultural assets worth more than £1m as of April 2026. A recent government review highlighted confusion and anxiety among farmers about the proposed changes. Ministers say they have taken industry feedback into account, stressing that while larger estates should contribute more, family farms and rural trading businesses must be protected. Farming leaders have welcomed the announcement, although concerns remain for businesses valued above the new threshold.
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