Thousands of farmers descend on Whitehall to protest inheritance tax

Thousands of farmers have gathered in Westminster to protest the government plans to axe the inheritance tax exemption on Agricultural assets.

The farmers have come from across the country to show their disapproval of the government’s decision.

The Chancellor Rachael Reeves announced that from 2026, the 20% tax exemption that applied to agricultural assets would be scrapped as part of the budget which was announced at the end of last month.

20% is half of the usual rate for inheritance tax over £1 million.

However, if you are married or in a civil partnership then you could pass an estate worth up to £3 million instead.

Despite this the NFU believe that some family farmers will have to give up their farms.

The government believe that it will only affect the wealthiest 500 estates.

Saying that those with the broadest shoulders should have to pay more.

However, the NFU have estimated that up to 70,000 estates could be affected by the removal of the tax exemption.

NFU president Tom Bradshaw told the BBC: “These are people’s livelihoods we are talking about.”

He went on to criticise the government’s ability to plan for the future.

Romsey and Southampton North MP Caroline Nokes said: “the reality is family farms will get chunked up, bits will have to be sold off to pay inheritance tax.”

Among those protesting was TV presenter Jeremy Clarkson, whose hit TV show ‘Clarkson’s farm’ has propelled farmers struggles to the front of mainstream consciousness.

The shadow environment secretary Vitoria Atkins has said that the Labour have delivered a budget of broken promises.

The Liberal Democrats have also hit out at the government.

They said “utterly rubbish” to say that only 500 farms would be affected.

The party’s environment spokesman, Tim Farron said: “the only way that people can pay inheritance tax is get rid of the farm.”

“it’s cruel, unfair, it’s also incredibly stupid.”