Submitted on Saturday 2nd November 2024
Rejected on Thursday 14th November 2024
Current status: Rejected
Rejection code: duplicate (see below for details)
Axe the family farm tax (inheritance tax)
The UK Government’s Budget on October 30 announced changes to Agricultural Property Relief (APR) and Business Property Relief (BPR).
Chancellor Rachel Reeves announced that from April 2026 combined business and agricultural assets worth more than £1m will have an inheritance tax at 20%.
If this inheritance tax change goes ahead, it will create financial jeopardy to many farming families who are already at breaking point financially.
The new inheritance tax threshold will put so many generational farms at risk. Most farmers don’t have spare cash to pay this and their assets are tied up in the land value. So many family farms may have to sell land or even their farms to pay the inheritance tax.
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The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
You may wish to sign this petition which calls for the same action: petition.parliament.uk/petitions/700138
3.145.72.44 Thu, 21 Nov 2024 09:34:26 +0000
