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The Farmers Weekly Podcast

Budget bombshell: Inheritance tax - how to reduce your liability

Nov 1, 2024
26:41

A special episode after an autumn Budget which promises huge changes to farm businesses – and indeed for farming families.

The Budget saw Chancellor Rachel Reeves announce major changes to agricultural property relief and inheritance tax rules relating to farming.

From April 2026, farmers will be subject to 20% inheritance tax on agricultural and business assets worth more than £1 million pounds.

In this episode, four experts discuss ways farmers can reduce their liability.

Our experts are:

  • Amy Cowdell, from solicitors Shakespeare Martineau
  • Robert Sullivan, from chartered surveyors GSC Grays
  • Jason Beedell, from farm business consultants Strutt & Parker
  • Sam Kirkham, from accountants Albert Goodman

Topics discussed include gifting land and assets to family members; business structures, including limited companies; moving assets into a trust; succession planning; and life insurance.

Thank you for listening to the Farmers Weekly Podcast. This episode was conceived, written, edited and produced by Johann Tasker.

To contact us, email podcast@fwi.co.uk. In the UK, you can also message us by texting the word FARM followed by your message to 88 44 0.

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