Minister defends farm tax proposal

A TREASURY minister has stood by the decision to bring farms into inheritance tax next year.

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Exchequer Secretary Dan Tomlinson said the Government made “the right decision” at last year's budget to end a tax relief for farmers, when they pass on agricultural property.

From April 2026, farm landowners will pay inheritance tax at an effective rate of up to 20% on their agricultural land, but can pass on agricultural and business estates worth up to £1 million without facing a bill.