The National Farmers’ Union (NFU) has called for a meeting with Rachel Reeves to discuss changes to Labour’s inheritance tax reforms after fresh evidence from tax experts that the planned changes may not achieve their stated goal of removing the incentive for rich people to shelter their wealth from tax by buying up farmland.
The chancellor’s plan, which comes into force next April, “largely protects family farms whilst limiting claims by the wealthiest estates”, according to a report by researchers at the Centre for the Analysis of Taxation (CenTax), which has proposed amendments to the inheritance tax changes.
