THE Autumn budget dealt a huge blow to the farming community.

Chancellor Rachel Reeves announced significant changes to inheritance tax (IHT) in the budget, including Agriculture Property Relief (APR) and Business Property Relief (BPR).

Previously farming businesses qualified for 100% relief on IHT on agricultural and business property. Now, the tax is being imposed on farms worth more than £1million, with a tax rate of 20% on assets above this threshold.

Although the government have said only around a quarter of farmers will be affected by these changes, analysis from the Country Land and Business Association (CLA) and the NFU suggests that 75% of food production could be affected by the changes.

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The CLA analysis suggests a “typical” arable farm of 200 acres (80 hectares), making a profit of £27,300, would face an IHT liability of £435,000.

The farm would have to allocate 159% of its profit each year to cover the tax bill, if spread over 10 years, and may lead those inheriting the land to sell as much as 20% of their farmland, the CLA said.

The NFU has stated that this tax will ‘not protect family farms, it will destroy them.’ Farmers and NFU members took part in a mass lobby in London on tomorrow (November 19) to protest against the IHT changes.

Sign the NFU petition here.

So that is why, at South West Farmer, we are launching a campaign to help protect our farms – Save Family Farms: Stop The Death Tax.

We will be lobbying our South West MPs to reverse the IHT changes, and seeking out ways we can help in the fight to save our family farms. We want to highlight the impact that these changes will have and we will be sharing stories from those who are affected.

READ MORE: All you need to know about farming inheritance tax changes

Since I have taken over as editor of South West Farmer, we have been working hard to highlight the importance of our young farmers. If those young farmers, who have worked on their family farm their whole lives, are no longer able to take over the business, then we are not supporting the future of farming. And this needs to change.

We want to remind you, that however dark these times seem for you, you are not alone. You are a key part in our lives. Farmers put food on our plates, and work tirelessly all year round. Despite this, it may not feel like the rest of the world is on your side. But we are, and we will continue to support family farms for as long as it takes.

If you would like to share your story, email me at editorial@southwestfarmer.co.uk.