NFU President Tom Bradshaw has warned that the tax could force some farmers to sell their land, raising concerns about the potential impact on the country's food security.

British farmers are escalating their protests against a proposed reform of inheritance tax, which they believe poses a significant threat to the viability of many farms.

On November 19, 2024, thousands of farmers gathered in London to voice their opposition to these tax changes, highlighting the deep discontent within the agricultural community.

The new policy, set to take effect in April 2026, introduces a 20% inheritance tax on agricultural assets exceeding £1 million, which farmers argue could lead to the breakup of family-run farms.

This tax reform comes at a particularly challenging time for British farmers, who have already faced difficulties due to the loss of European subsidies post-Brexit and a complex new environmental subsidy system.

Rachel Reeves, the minister responsible for the budget that introduced this tax, has been criticized by farmers who fear it could jeopardize the future of their businesses.

The Country Land and Business Association estimates that over 70,000 farms could be impacted by the new tax, with the National Farmers' Union suggesting that two-thirds of farms will be affected.

Many family-run farms are asset-rich but cash-poor, making it difficult for them to pay the new tax solely from their profits.

Tensions have escalated as the Treasury claimed that only around 100 farms would be affected, while Defra Secretary Steve Reed emphasized the need for the tax to address a £22 billion budget deficit.

The Labour government aims to raise £520 million through this inheritance tax reform, which has faced significant backlash from the farming community.

Despite a rallying effort from 181 Conservative MPs to annul the inheritance tax reform, the motion was ultimately rejected by a vote of 339 MPs.

Following a protest where over 10,000 farmers demonstrated with their tractors, another rally is scheduled for December 11, 2024, indicating that the movement is gaining momentum.