tax inherited farmland

The UK Government proposals to tax inherited farmland thresholds have been increased from £1 million to £2.5 million, the BBC reported on Tuesday. Concerned farmers have pushed back on the initial proposal since it was announced over a year ago. Originally, UK ministers indicated they would begin imposing a 20% tax on inherited agricultural assets worth more than £1 million. Formerly, there had been 100% tax relief in place since the 1980s. Environment secretary Emma Reynolds said, "We have listened closely to farmers across the country and we are making...