NI farmers visit Westminster to demand changes to inheritance tax proposals
The Ulster Farmers' Union has delivered a stark message to Westminster that the inheritance tax proposals are "not fair, not workable, and not grounded in a proper understanding of Northern Ireland’s farming structure".
This message was expressed directly to MPs at a UFU-hosted event in Westminster, which was held on Monday (17 November).
The event, titled 'Securing the Future of Family Farming in Northern Ireland', served as an opportunity for UFU members to speak to policymakers about how farmers in Northern Ireland will be "severely and disproportionately" affected by the proposed family farm tax.
Following the event, UFU president William Irvine explained that the inheritance tax proposals fail to recognise the reality that most NI farms are small-to-medium family-run businesses, where assets are tied up in land, machinery, and livestock, rather than cash.
Irvine added: "Farming in NI is asset-rich but cash-poor, and the reality is that many families simply cannot raise the liquidity required within the short timeframe to meet the tax bills these proposals would create."
Letter
This message was also outlined within a letter to Chancellor of the Exchequer Rachel Reeves, which was signed by the delegation of UFU members and Upper Bann MP, Carla Lockhart.
The DUP spokesperson for agriculture wrote to Reeves, urging her to revert the proposed changes to Agricultural Property Relief (APR) and Business Property Relief (BPR) ahead of the UK's Budget next week.
The letter stated: "When a farmer dies, there is often no liquidity to meet a large tax bill without disposing of the land itself; APR was created to reflect this reality.
"To proceed with altering it significantly, in a looming Budget, and without a dedicated Northern-Ireland-specific impact assessment, would put generational family farms at risk of collapse."
The Upper Bann MP warned that many farming families will be forced to sell their land due to sudden tax burdens that the proposals would create, putting food security across the UK at risk as a result.
Additionally, Lockhart highlighted the impact that the tax reform will have on many farm succession plans, saying the next generation will be left uncertain about its future in farming.
The letter called on the proposals to be scrapped entirely, stating that this is the "only responsible option to safeguard family farms, rural communities and the future of domestic food production."
