Ahead of a demonstration outside parliament on Tuesday, Sir Keir Starmer has stated that the “vast majority of farmers” will not be impacted by changes to the Inheritance Tax (IHT).
It comes after Chancellor Rachel Reeves said that farms valued at more over £1 million, which were previously free, would now be subject to a 20% inheritance tax starting in April 2026.
However, the prime minister rebuffed efforts to alter the route in an attempt to allay anxieties.
He was speaking at the G20 conference in Brazil. “If you take a typical case of a couple wanting to pass a family farm down to one of their children, which would be a very typical example, with all of the thresholds in place, that’s £3m before any inheritance tax is paid.”
