Planet Faculty

A cross-party group of MPs is urging the government to postpone its planned inheritance tax reforms, fearing the changes could severely impact family farms and further erode trust in the agricultural sector. The Environment, Food and Rural Affairs (EFRA) Committee, in a report published on May 16th, is specifically calling for ministers to delay final decisions on reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR) until October 2026. This delay, MPs argue, would provide vulnerable farmers with crucial time to seek expert advice and prepare for the potential changes. The committee expressed concern over the lack of consultation surrounding the reforms and the absence of a clear impact assessment. This, they state, raises worries about a potentially detrimental agenda concerning land and assets within the farming community. The report highlights that the potential consequences for land values, tenant farmers, and the broader agricultural sector remain ...