Cllr slams 'hammer blow' family farm tax changes

A Perth and Kinross councillor has slammed changes to family farm inheritance tax as "disastrous".

- KATHRYN ANDERSON

McLaren is the Scottish Liberal Democrat spokesperson on Agriculture and Rural Affairs.

As part of the Autumn Budget, the UK Government announced that as of April 6, 2026 — the 100 per cent inheritance tax relief on combined agricultural and business assets would be capped at £1 million.

Thereafter landowners would access 50 per cent relief from inheritance tax and pay inheritance tax at a reduced effective rate up to 20 per cent, rather than the standard inheritance tax rate of 40 per cent. It would be payable in instalments over 10 years interest free.