{"id":36746,"title":"British Farmers March on London as Inheritance Tax Row Intensifies","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2024-11-20T05:52:02+00:00","modified":"2024-11-20T05:58:09+00:00","canonical_url":"https://stockmark.it/british-farmers-march-on-london-as-inheritance-tax-row-intensifies/","markdown_url":"https://stockmark.it/british-farmers-march-on-london-as-inheritance-tax-row-intensifies.md","json_url":"https://stockmark.it/british-farmers-march-on-london-as-inheritance-tax-row-intensifies.json","category":"Agriculture","categories":["Agriculture","Farming","Inheritance tax"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/WhatsApp-Image-2024-11-19-at-14.00.52-e1732082282988.jpeg?fit=650%2C395&quality=89&ssl=1","format":"news","language":"en-GB","content":"Thousands of British farmers descended upon London’s streets yesterday, rallying against controversial inheritance tax changes they claim threaten the future of family farming. The demonstration, centred near Parliament Square, saw landowners brandishing banners declaring “no farmers, no food, no future” in protest of what the agricultural sector has dubbed the “family farm tax”.\n\nThe reforms, announced in the recent Budget, will impose a 20 per cent tax rate on inherited agricultural and business assets valued above £1 million, effectively ending the previous exemption. These changes are set to take effect from April 2026, despite government assurances that most farmers will remain unaffected.\n\nThe farming community has responded with significant concern, arguing these measures could force the sale of agricultural land to meet tax obligations, placing an unprecedented burden on future generations at a time when profit margins are already severely constrained.\n\nDavid Corp, a Somerset-based dairy, beef and arable farmer, expressed his fury at the situation, highlighting the disparity between smaller family farms and wealthy landowners. “They say they’re going after landed industrialists who employ people like me to farm their land. But [the industrialists] have already sewn it all up in offshore funds and trusts,” he stated.\n\nThe protest garnered cross-party political attention, with Conservative leader Kemi Badenoch pledging to reverse the changes at the “earliest opportunity”. Television personality Jeremy Clarkson joined the demonstration, emphasising his understanding of farming’s challenges and harsh realities.\n\nNFU president Tom Bradshaw characterised the policy as “the straw that broke the camel’s back”, noting it compounds existing challenges including reduced subsidies, new fertiliser taxes, and increasingly unpredictable weather patterns. The government maintains that married couples or civil partners can still pass on farms worth up to £3 million tax-free when considering existing allowances.\n\nPrime Minister Keir Starmer acknowledged farmers’ concerns but defended the changes, arguing that increased contributions from wealthy landowners would help fund vital rural services, including schools and hospitals. The situation highlights the growing tension between agricultural sustainability and fiscal policy in British farming."}