Why MPs demand changes to inheritance tax raid on British farms

Plans to levy inheritance tax on farmland threaten the future of British agriculture and should be paused while its ill effects are properly examined, an influential committee of MPs has said. In a damning report on the state of British farming, the Environment, Food and Rural Affairs (EFRA) Committee argued there was a “considerable risk” that ending a longstanding inheritance tax carve out will inflict “unintended consequences” on some of Britain’s most vulnerable farmers. “The conclusion that we have come to is that if these proposals go ahead as they are currently framed, then this is going to be a serious threat to the future of farming in the United Kingdom,” Alistair Carmichael MP, EFRA Committee chair, told City AM. Read more of the story here 👇 https://www.cityam.com/inheritance-tax-mps-demand-farm-tax-pause/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Ali Lyon, Mauricio Alencar, Emmanuel Nwosu, Joseph Curay Teneda #uk #news #politics #business #businessnews #finance #financialnews #personalfinance #money #inheritance #inheritancetax #tax #farmer #farming #farmer #farmland #agriculture #economy #economics #mps #memberofparliment #labour #labourparty