UFU president warns that new inheritance tax rules threaten farmers’ futures
Londonderry: William Irvine, the president of the Ulster Farmers’ Union, recently spoke out about the serious implications of inheritance tax changes. Farmers across the UK rallied together in a national protest, and it was quite a sight with tractors lining the roads in all six counties of Northern Ireland.
Currently, working farms don’t have to pay inheritance tax, but starting in April 2026, any inherited land or property valued over £1 million will be taxed at 20%. That’s a big deal for many farmers.
During a chat on the BBC’s Sunday Politics, Irvine dismissed the Treasury’s claim that only about 500 estates would be affected. He pointed out that a study suggests this could impact around 75,000 farms over time, which is huge.
He emphasized that this isn’t just a local issue; it poses a significant threat to the rural economy and UK food security. Farms in Northern Ireland are often smaller but have higher land values, making them particularly vulnerable.
Many farmers are owner-occupiers, meaning the main assets are usually in one name. This makes it tough when it comes to dealing with the tax changes. Irvine also mentioned that these changes could lead to higher food prices, which is a concern for everyone.
Farmers are already facing pressure to be more environmentally friendly, which requires investment. Unfortunately, the new tax rules might discourage them from making those necessary changes.
At a protest in Enniskillen, former UUP leader Lord Elliott, who is also a farmer, shared that many are seeking financial advice on how to navigate these changes. Some are worried that the costs could be too high for their children to handle.
Coleraine student Amy McCollum, who joined the protest, expressed her desire to secure a future for farming. She’s studying at Queen’s and hopes to return to the family farm someday.
Another farmer, Robert Moore, voiced his frustration, saying the tax is unfair and could force families to sell their land. TUV leader Jim Allister praised the turnout at the protests, highlighting the determination among farmers to fight against what he called a “punitive death tax.”
He believes that with farmers united, the government will have to reconsider its stance on these taxes that threaten family farms.
