Liberal Democrat leader Sir Ed Davey underscored the dire consequences of the inheritance tax change, urging the government to listen to rural communities to avoid harming 70,000 farms.
Victoria Vyvyan, president of the Country Land and Business Association, warned that capping agricultural property relief at £1 million could jeopardize family businesses and threaten food security in the UK.
Professor Yiorgos Gadanakis notes that approximately 30-35% of UK farms could be valued above £1 million, indicating that around 70,000 farms might be affected by the new tax rule.
According to Professor Sally Shortall, the impact of the inheritance tax will not be felt evenly, with farms in England facing the most severe repercussions due to regional land value disparities.
Collection
[
|
...
]