NFU campaigning secures Inheritance Tax change to protect many county family farms in Mansfield
A long-fought campaign by the NFU and its members has seen changes to the family farm tax for Mansfield farmers and those across the country following an announcement from Government.
NFU President Tom Bradshaw, responding to news the inheritance tax threshold (IHT) will be raised to £2.5m, said farmers and the NFU had spent the past 14 months campaigning and lobbying to try and mitigate the worst impacts of the inheritance tax proposals.
He said: “After it became clear that this policy wasn’t going anywhere, we have focused our campaign to mitigate the worst of its impacts for the majority.
"The announcement, which sees the tax threshold raised from £1m to £2.5m, will come as a huge relief to many. While there is still tax to pay, this will greatly reduce that tax burden for many family farms, those working people of the countryside.
“Changes to Agriculture Property Relief (APR) and Business Property Relief (BPR) announced in last year’s Budget came as a huge shock to the farming community. Until that moment, the best tax planning advice was to hold on to your farm until death and pass it on to the next generation who could continue to run a viable farming, food producing business.
“The original changes to APR and BPR, contained within the Finance Bill, resulted in a pernicious and cruel tax, trapping the most elderly and vulnerable people and their families in the eye of the storm. The NFU and its members have stood strong for what we believed in.
“I am thankful common sense has prevailed and government has listened.
"I have had two very constructive meetings with Prime Minister Sir Keir Starmer and dozens of conversations with Defra Secretary of State Emma Reynolds. She has played a key role underlining the human impact of this tax. These conversations have led to today’s changes which were so desperately needed.
"From the start the government said it was trying to protect the family farm and the change announced today brings this much closer to reality for many. I’d like to thank the Prime Minister for recognising the policy needed amending and the Chancellor for bringing in the spousal transfer in the Budget. Combined this is a significant change.
"I am immensely proud of all those farmers and growers who had worked with the NFU and supported our campaign. We have stood together and supported one another when it really mattered. In the end, it was well-reasoned and rational argument that won through."
He also thanked Labour backbench MPs that were contacted by farmers and growers and decided to stand by their constituents as demonstrated by the recent abstentions on the vote on Budget Resolution 50.
"While small in number, it was a significant and brave move for many," he said.
“We have spent the past year working with them and there’s no doubt their interventions behind the scenes have also played a huge role in securing today’s news. I would also like to thank all opposition parties for continuously raising the impacts of this proposed policy.
“Finally, I would like to thank the public for supporting our campaign. More than 270,000 people supported our calls for change because they value British food and the working people of the countryside that produce it.
“It has been a very challenging year for many, but I hope we close 2025 with optimism for the future and an ability to work in partnership with all departments across government to see British farming thrive.”