Farmers seek meeting with chancellor over inheritance tax

The National Farmers' Union (NFU) has called for a meeting with Rachel Reeves to discuss Labour's changes to inheritance tax after fresh evidence from tax experts that they may not achieve their stated goal of removing the incentive for rich people to shelter their wealth from tax by buying up farmland.

- Joanna Partridge

The chancellor's plan, which comes into force next April, "largely protects family farms whilst limiting claims by the wealthiest estates", according to a report by the Centre for the Analysis of Taxation (CenTax), which has proposed amendments to the inheritance tax changes.

But, Andy Summers, CenTax's director, said the relief could be better targeted to "further extend protection for businesses, including farms".