Reeves: Most farmers won't pay more in inheritance tax
Video Credit: ODN - Duration: 00:41s - Published
Reeves: Most farmers won't pay more in inheritance tax
Rachel Reeves says she is raising money in a "fair and balanced way", after receiving backlash from farmers over a new inheritance tax charge announced in her Autumn Budget.
The chancellor closed a loophole to stop rich people investing in land to reduce their inheritance tax bills, penalising them with a new million pound tax threshold.
But Reeves tells Channel 4 News, "73 percent of farmers will not be paying a penny more".
Report by Brooksl.
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Thousands of farmers descended on Westminster on Tuesday to protest against the inheritance tax changes for farming businesses introduced in last month’s Budget. The changes mean inheritance tax of..
MPs including shadow environment secretary Victoria Atkins, shadow foreign secretary Priti Patel and Tory party leader Kemi Badenoch have turned out in Westminster to offer their support to the farmers..
Environment secretary Steve Reed has insisted "only around 500 farms will be affected" by the new family farm tax. The plans to impose inheritance tax on farms worth more than ÂŁ1 million have sparked..
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