FARMERS and landowners in the south west have written to MPs to express their anger at the inheritance tax changes. 

Letters have been received by MPs across the region about the introduction of a cap on Agricultural Property Relief (APR) and Business Property Relief (BPR). 

The anger comes after Chancellor Rachel Reeves revealed in the Autumn Budget that APR and BPR will be capped at £1million from April 2026. 

The following labour MPs received letters: 

  • Matt Bishop (Forest of Dean) – 53 signatories
  • Anna Gelderd (South East Cornwall) – 54 signatories
  • Jayne Kirkham (Truro and Falmouth) – 37 signatories
  • Simon Opher (Stroud) – 32 signatories
  • Lloyd Hatton (South Dorset) – 30 signatories

Qualifying assets beyond £1million will receive 50% relief from inheritance tax, resulting in an effective tax rate of 20%, after using the nil rate band of £325,000 and residence nil rate band of £175,000.

Recommended reading:

Ann Maidment, south west regional director for the Country Land and Business Association, said: "The Chancellor’s announcement will have consequences for hard-pressed farmers, consumers and the environment. Labour promised to be the party for the countryside, for growth, and vowed not to cut inheritance tax reliefs. Now they have broken these promises. How can rural Britain trust them again?

“The government appears to think inheritance tax reliefs for farmers are ‘loopholes’. In reality, they are targeted reliefs designed to protect Britain’s rural economy, jobs and food security. And this isn’t the only challenge that the farming community will be facing. The real term cut to the agriculture budget in England will mean that the Government's own ambitions and targets for nature will be impossible to deliver. 

“The fear and anger felt by farmers and rural businesses cannot be overstated. There is enormous growth potential in the countryside, but we need the government to be working with us, not against us.”