Britain's Farmers Face Grim New Inheritance Tax Reality
By Alec Marsh
The chancellor's attack on inheritance tax relief for farmers caused panic last autumn. Now that the situation has become clearer, Alec Marsh assesses the impact.
The British are known for their dark humor, which is reflected in recent legal circles' suggestions that elderly owners of farming estates should consider marrying their daughter-in-law or son-in-law to mitigate the effects of the new inheritance tax rules, "so long as the right pre- and post-nup are in place."
An even more extreme – and equally unserious – suggestion for tax mitigation is, ahem, to take the precaution of dying before 6 April 2026. In that case, one's whole estate would still get passed on tax-free.
Alec Marsh surveys the damage caused by the changes to inheritance tax relief for farmers.
Author's summary: Farmers face new inheritance tax reality.