Unlike counterparts in the Republic of Ireland, farmers in NI are usually pretty hesitant when it comes to attending gatherings aimed at highlighting discontentment with government policy.
However, it is really important that large numbers turn up at the event organised by the Ulster Farmers’ Union (UFU) in the Eikon Exhibition Centre, Lisburn at 7.30pm on Monday 18 November. Everyone should also sign the petition, available on the UFU website (www.ufuni.org).
This is not about supporting one NI farm organisation over another, but about highlighting to the UK government how fundamentally flawed the changes proposed to inheritance tax (IHT) from April 2026 actually are.
Those changes involve a £1m threshold on Agricultural Property Relief (APR) and Business Property Relief (BPR), with inheritance tax charged at 20% above this level.
According to government, this £1m threshold has been put in place “to protect family farms”. It has quoted figures which show in 2021 and 2022 nearly 75% of APR and BPR claims were below £1m, so the inference is that only rich landowners will be impacted by the changes.
At current land values in NI, this is not true and we can only assume that in recent years, people have been submitting nominal figures for the value of land when claiming APR. Given 100% tax relief, it didn’t matter what value was being used – it is a very different scenario going forward.
Many NI farmers have assets over £1m and while the majority might have a successor identified, allowing them to make use of the seven-year rule to avoid IHT, others will be badly caught, especially if there is a sudden death. As an industry, we cannot stand idly by and let that type of scenario play out.
Farmers must come together, whether it is to protect the long-term viability of their own family farm or that of their neighbour. If that happens we are in a strong position to convince government their assumptions are wrong and the threshold for APR is far too low. Don’t leave the lobbying effort to others.
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