Matthew Yates comments on the agriculture IHT hikes in WealthBriefing
Matthew’s comments were published in WealthBriefing, 20 November 2024, and can be seen here.
Earlier this week, farmers gathered in protest in central London, calling for the government to reverse its plans to increase inheritance tax (IHT) on properties valued above £1m. Matthew Yates, Partner and joint head of our Private Client department is quoted in WealthBriefing:
“Long term planning for a sector is crucial to the nation’s economy as agriculture requires certainty, and farmers are justifiably angry about having the rug pulled out from beneath them.
"The government’s approach does not seem to be based on accurate figures, and doesn’t appear to be adequately thought through given their assertion that a relatively small number of farms will be affected. That is not our experience of the value of land in the agricultural sector. This is another reason for hardworking farmers to wonder why they should carry on."
Spotlight On UK Agriculture Inheritance Tax Hikes
After farmers gathered in London this week to protest against the government's inheritance tax plans in this year’s Autumn budget, wealth managers discuss the impact.
Following UK Chancellor of the Exchequer Rachel Reeves' Autumn Budget in October, which included a series of tax hikes expected to raise taxes by £40 billion ($52 billion), wealth managers assess the impact of the inheritance tax increases on agricultural businesses.
Read the full article here: Spotlight On UK Agriculture Inheritance Tax Hikes (WealthBriefing)
