Budget bombshell: Inheritance tax - how to reduce your liability

A special episode after an autumn Budget which promises huge changes to farm businesses – and indeed for farming families.The Budget saw Chancellor Rachel Reeves announce major changes to agricultural property relief and inheritance tax rules relating to farming.From April 2026, farmers will be subject to 20% inheritance tax on agricultural and business assets worth more than £1 million pounds.In this episode, four experts discuss ways farmers can reduce their liability.Our experts are:Amy Cowdell, from solicitors Shakespeare MartineauRobert Sullivan, from chartered surveyors GSC GraysJason Beedell, from farm business consultants Strutt & ParkerSam Kirkham, from accountants Albert GoodmanTopics discussed include gifting land and assets to family members; business structures, including limited companies; moving assets into a trust; succession planning; and life insurance.Thank you for listening to the Farmers Weekly Podcast. This episode was conceived, written, edited and produced by Johann Tasker.To contact us, email [email protected]. In the UK, you can also message us by texting the word FARM followed by your message to 88 44 0.See omnystudio.com/listener for privacy information.