Early day motion · EDM 371 · 6 Nov 2024

Agricultural Property Relief and Business Property Relief

Tabled by Edward Morello (Liberal Democrat) 37 signatures

The motion

That this House recognises the essential role of family-run farms in sustaining rural communities, particularly in areas like West Dorset, and providing high-quality food for the nation; notes that the proposed changes to Agricultural Property Relief and Business Property Relief from April 2026, with only the first £1 million of agricultural and business assets fully exempt from inheritance tax, pose a critical threat to these farms' continuity; further notes that 49% of farms already have a net worth of over £1.5 million, and that the average farm value far exceeds this cap, these adjustments could force families to sell vital assets to meet tax obligations; notes that the sustainability of these generational farms, many of which are central to food security and biodiversity, is at risk; and calls on the Government to urgently reassess these measures to safeguard the future of UK agriculture and the rural economy.