Budget uproar - call for peaceful protest, life insurance and inheritance tax, tax on farm pick-ups, basic payment phase-out, future for family farms
Description
In this episode, industry leaders urge farmers not to take direct action following the government’s decision to impose inheritance tax on farmland.
Thousands of farmers are expected to descend on London after the Budget announcement sent shockwaves through the industry.
The protest will coincide with what the NFU is describing as a ‘mass lobbying’ of MPs to get the government decision reversed.
The inheritance tax facing farmers following the Budget has understandably grabbed all the headlines.
But the Chancellor also unveiled many more measures affecting agriculture.
They included company car tax on farm pick-ups, an increase in employers national insurance – and the faster phase out of direct payments.
Life insurance could be one way of mitigating the impact of inheritance tax on farmland.
But farmers are urged to take advice rather than making rash decisions.
This episode of the Farmers Weekly Podcast is co-hosted by Johann Tasker and specialist arable reporter Louise Impey.
To contact the Farmers Weekly Podcast, email podcast@fwi.co.uk.
In the UK, you can also message us by texting the word FARM followed by your message to 88 44 0.
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