The Conservatives' shadow environment secretary, Victoria Atkins, highlighted growing anxiety among families regarding the financial implications of an upcoming inheritance tax law scheduled to take effect in April 2026. This concern, particularly prevalent among families with elderly relatives, stems from the anticipated 20 percent tax on agricultural land and businesses exceeding £1 million. Farmers gathered in Westminster to protest the Labour party's inheritance tax proposal, emphasizing the potentially burdensome financial impact on families if their elderly relatives live past the cutoff date.
Families are having these conversations "because if they live past that date, that means that their family will get hit with a ginormous inheritance tax bill."
Tuesday's march is the latest action being taken by farmers who are unhappy with Labour's plan to bring in a 20 per cent inheritance tax rate on agricultural land and businesses worth more than 1m.
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