FTAdviser Podcast How to help your farming clients navigate the 'tractor tax'
In 2024, Britain’s faming communities marched to Westminster in protest against changes in the Autumn Budget to agricultural relief, which has been dubbed the 'family farm tax' or the 'tractor tax'.
In a bid to bring more tax into the nation's coffers, chancellor Rachel Reeves’ cut to APR will mean that from April 2026, a tax of 20 per cent will apply to agricultural assets over £1mn. Campaigners say this risks ringing the death knell for local farmers and the small businesses who rely on them.
So, how can financial advisers help all those affected when it comes to tax planning? Joining FT Adviser editor Simoney Kyriakou is Tom Bradshaw, president of the National Farmers' Union and an arable farmer himself.
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