MPs urge Government to reverse ‘devastating’ inheritance tax on farmers

Opposition MPs have called on the Government to reverse the ‘devastating’ change to farmers’ inheritance tax (Steve Parsons/PA) - (PA Wire)

Opposition MPs have called on the Government to reverse the “devastating” change to farmers’ inheritance tax.

In the Budget, Rachel Reeves announced that inheritance tax will be charged at 20% on farms worth more than £1 million, although the Chancellor has said that in some cases the threshold could in practice be about £3 million.