The potential removal of inheritance tax relief for agricultural land could jeopardise family farms, warns the Country Land and Business Association (CLA). The Chancellor is reportedly considering this measure in the upcoming Budget, which could force landowners to sell their farms to cover the tax burden. A CLA survey revealed that nearly 90% of respondents would need to sell some or all of their farms if the relief is lifted. The CLA estimates that a 5% reduction in registered rural businesses could lead to over 27,500 closures and 190,000 job losses. It also notes that tenant farmers would be particularly affected, as landowners may lack the incentive to maintain agricultural use.
