'Unprecedented' plea to MPs ahead of Budget over inheritance tax

AHEAD of the UK Government's Budget next week, the President of the Farmers' Union of Wales, Ian Rickman, has written to every Member of Parliament across the UK to highlight the union's grave concerns about the UK Government's proposed changes to inheritance tax, due to come into force next April.

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President of the Farmers' Union of Wales, Ian Rickman

This latest intervention follows months of lobbying by the FUW, which has consistently warned ministers and officials that the reforms represent an existential long-term threat to Welsh family farms and the wider rural economy.

Farmers and stakeholders across Wales have repeatedly raised fears that the proposals if implemented in their current form would accelerate the loss of family-run holdings and undermine the social fabric of rural communities.

Despite the UK Government's earlier insistence that a "vast majority" of Welsh farmers would remain unaffected, previous analysis from the Farmers' Union of Wales (FUW) suggests up to 48% of Basic Payment Scheme (BPS) recipients in Wales could be affected by the inheritance tax proposals.

The publication of the Welsh Affairs Committee report last week found the proposed inheritance tax reforms have created a "climate of uncertainty and confusion" for farmers.

The cross-party committee has called for a Wales-specific impact assessment before the changes are implemented in April 2026, highlighting the need to understand potential effects on Welsh family farms and rural communities.