Festive U-turn on tax is ‘good government’

OWNING Street denied

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OWNING Street denied trying to bury a U-turn by changing inheritance tax policy during the Christmas week, and said the move came after “open dialogue” with the farming sector.

The Government will end farmers’ full relief from inheritance tax in April, and had been set to raise money from their business assets after the first £1m, which could be passed on tax-free.

But the full relief threshold will now be set at £2.5m, following an announcement on December 23.