Protest Pressure has worked on Inheritance Tax says Farmers For Action
The rural economy of Northern Ireland revolves around small farmers and they maintain that the current UK government proposals could lead to many farm closures unless the inheritance tax (IHT) level is raised substantially.
Farmers For Action say that protest pressure has worked after the threshold for inheritance tax relief has been raised by the Labour Government to £2.5m from a million pounds for farmers and businesses just on the cusp of Christmas.
April 2026 sees the threshold increased from £1million to £2.5million and allowing spouses or civil partners to pass on up to £5million in qualifying agricultural or business assets between them.
William Taylor FFA NI chairman said: “Protest Pressure obviously works.
“However, FFA while welcoming the 150% increase announcement, will reserve judgement until the full outworkings of the move are known.”
Sean McAuley, FFA representative added: “Farming families across the UK are indebted to all those farming families and farm organisations who worked 24/7 to drive their tractors to London and other venues.
“They supported the campaign time after time to protest in the last 12 months, prepare banners, press releases and took time out of their busy work schedules to prioritise the removal of the dastardly inheritance tax.”
FFA will comment in the new year when the full story becomes clear, meanwhile it makes for a brighter Christmas for many family farms across the UK.
