North Devon MP urges government to axe 'family farm tax'

Thousands of farmers gathered in Westminster yesterday (November 19) to protest changes to inheritance tax rules announced in the latest Budget. 

Demonstrations also took place across the country for those unable to travel to London.

From April 2026, inherited agricultural assets valued at over £1 million will be subject to a 20 per cent tax; half the standard inheritance tax rate. 

Farmers have expressed concerns about the potential impact on family-run farms.

Ian Roome, Liberal Democrat MP for North Devon, met with local farmers in Westminster Hall to discuss the challenges posed by the tax. 

North Devon, which has 1,475 farms, could see many family businesses affected by the changes.

Mr Roome said: “Older farmers fear losing businesses that have been in their families for generations, while younger farmers are questioning whether a career in agriculture is still viable.”

The Government is also accelerating reductions in direct payments under the Basic Payment Scheme, with recipients facing a 76 per cent cut next year. 

Mr Roome has called for an urgent review of these policies, saying they could hinder the ability of farmers to operate sustainably.

Mr Roome stated: “Family farmers across North Devon have already been failed by a Conservative party that didn’t care about them. They can’t now be let down by a Labour government that doesn’t understand them.

“British farmers are already battling with sky-high energy bills and botched overseas trade deals, and this hike will only make things worse. I am urging the Government to change course.”

Farmers and campaigners continue to seek clarity on how the Government plans to address their concerns.