True cost of Rachel Reeves' farmer tax laid bare - and exact number of businesses impacted

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True cost of Rachel Reeves' farmer tax laid bare - and exact number of businesses impacted

//business-finance.news-articles.net/content/202 .. are-and-exact-number-of-businesses-impacted.html

Published in Business and Finance on Thursday, November 28th 2024 at 5:00 GMT by Bill Williamson
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Thousands more farms will be hit by inheritance tax changes than the Treasury has estimated, agricultural valuers claim.

The article from Express.co.uk discusses the potential impact of Labour's proposed changes to inheritance tax, as outlined by Shadow Chancellor Rachel Reeves. Reeves has suggested that agricultural land and businesses could be subject to inheritance tax, which currently benefits from reliefs that exempt them from this tax. This policy shift could lead to significant financial burdens for farmers and family businesses, potentially forcing them to sell assets or restructure to pay the tax. Critics argue that this move could devastate rural economies, disrupt long-standing family enterprises, and might not align with Labour's goal of supporting small businesses and rural communities. The article highlights concerns from farming communities and business owners about the sustainability of their operations under such tax changes, with fears that it could lead to a decline in agricultural productivity and the loss of family-run businesses.

Read the Full Daily Express Article at [ https://www.express.co.uk/finance/personalfinance/1981807/rachel-reeves-farm-inheritance-tax-raid-impact ]