Agricultural Property Relief and Business Property Relief
Tabled 6 November 2024 by Edward Morello
That this House recognises the essential role of family-run farms in sustaining rural communities, particularly in areas like West Dorset, and providing high-quality food for the nation; notes that the proposed changes to Agricultural Property Relief and Business Property Relief from April 2026, with only the first £1 million of agricultural and business assets fully exempt from inheritance tax, pose a critical threat to these farms' continuity; further notes that 49% of farms already have a net worth of over £1.5 million, and that the average farm value far exceeds this cap, these adjustments could force families to sell vital assets to meet tax obligations; notes that the sustainability of these generational farms, many of which are central to food security and biodiversity, is at risk; and calls on the Government to urgently reassess these measures to safeguard the future of UK agriculture and the rural economy.
Signatories (37)
- Edward Morello Sponsor
- Vikki Slade
- Helen Morgan
- David Chadwick
- Mr Angus MacDonald
- Helen Maguire
- Freddie van Mierlo
- Claire Young
- Adam Dance
- Sarah Dyke
- Anna Sabine
- Ian Roome
- Jim Shannon
- James MacCleary
- Charlotte Cane
- Mr Lee Dillon
- John Milne
- Mike Martin
- Dr Roz Savage
- Ben Maguire
- Manuela Perteghella
- Lisa Smart
- Christine Jardine
- Richard Foord
- Ian Sollom
- Sarah Gibson
- Calum Miller
- Alex Brewer
- Sarah Green
- Tim Farron
- Cameron Thomas
- Mr Joshua Reynolds
- Victoria Collins
- Dr Al Pinkerton
- Jamie Stone
- Jess Brown-Fuller
- Olly Glover