The president of National Farmers Union (NFU) Cymru, Aled Jones has written to UK Prime Minister Keir Starmer to call for changes to the government’s inheritance tax proposals.
Speaking at at this year’s Royal Welsh Show, Jones said he witnessed the “distress and torment” the tax is causing to farmers across the nation.
The NFUC president noted that the changes to Agricultural Property Relief (APR) were not a concern for the vast majority of visitors to the Royal Welsh Show in 2024, but it is the opposite consensus this year.
Jones said he felt compelled to write the letter after being contacted by hundreds of Welsh farmers who have been impacted by the ‘Family Farm Tax’.
The government has outlined plans to hold a technical consultation on the draft legislation, including on inheritance tax (IHT), to ensure it “works as intended”.
The Treasury papers published this week dismissed the suggestion that introducing IHT on agricultural assets from April 2026 will have a damaging impact on national food security.
Letter
Jones said in his letter that he is “concerned that the number of farm businesses, which stand to be impacted by this policy change will be far greater than Treasury predictions”.
Jones expressed his concern for elderly farmers, saying after a life dedicated to the industry, they are now ‘tormented’ worrying that their death will pass large financial burdens onto their loved ones.
The NFUC president highlighted how many of these older farmers will not have any insurance to cover their tax liabilities as age and health issues catch up with them.
He added: “I know that no government would want to place anyone in the difficult and invidious position that many elderly farmers now find themselves in.
“My view remains that an opportunity still exists for your government to mitigate very many of the human impacts of these policy proposals, whilst meeting the government’s aim of raising revenue. “
The plans will see agriculture assets worth more than £1 million being taxed over half the usual rate at 20%.
