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MP Dáire Hughes has called for the British government's plan to cut inheritance tax relief for farmers to be reversed. From April 2026, inheritance tax relief for business and for agricultural assets is to be capped at £1m, with a new reduced rate of 20% being charged above that (rather than the standard inheritance tax rate of 40%). The tax was announced in the Labour Party's first budget and would be payable in instalments over 10 years interest free.
The Newry and Armagh representative was speaking after meeting with farmers’ representatives in Westminster this morning, 20 November. Yesterday thousands of farmers came together to oppose the proposed changes.
Mr Hughes said: “The British government’s decision to announce changes to inheritance tax for farmers has caused a great deal of concern about what this will mean for the future viability of their farms.
“Last night, First Minister Michelle O’Neill and other ministers stood shoulder to shoulder with thousands of farmers in opposition to the British government's plan.
“Family farms are the backbone of our agriculture sector and rural economies in the north, and the ability to pass down a family farm from one generation to the next must be protected."
The MP concluded “I relayed to members of the Ulster Farmers’ Union this morning that Sinn Féin will continue to press the British government to reverse this decision and to ensure family farms can continue to play their role in our thriving farming industry.”
