MPs Sir Alec Shelbrooke and Kevin Hollinrake have warned that the future of family farms is at risk following tax changes announced in the recent budget.
The loss of Agricultural Property Relief (APR), which has been a long-standing components of the tax code, was met with anger from the National Farmers’ Union last week. Now both MPs, representing seats in Yorkshire's countryside, have teamed up to fight what they describe as “existential for Yorkshire farming”.
Thirsk & Malton MP, Kevin Hollinrake, said: “When in Opposition, the Secretary of State for Environment, Food and Rural Affairs stated that he had no plans to change inheritance tax. However, in last week’s budget the government announced that, while there would continue to be no inheritance tax on combined business and agricultural assets worth less than £1 million, above that there would be a 50 per cent relief, at an effective rate of 20 per cent, from April 2026. I met local farmers last week in Bedale and they are rightly feeling betrayed and angry at the Labour Government"
Wetherby & Easingwold MP, Sir Alec Shelbrooke, added: “This new tax on farms will have unintended consequences. Small farms would have to sell off land and machinery or close down their farms altogether in order to pay this new death tax. It’ll mean more expensive food, more imported food, and fewer artisan producers in the wider rural economy. Family farm businesses don’t have hundreds of thousands in the bank waiting to pay this new tax, many reinvest most of one year’s profits to purchase seed and fertiliser for the next”.
Both MPs are urging residents to sign a new petition to stop the family farm tax at www.stopthefarmtax.com
