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Farmers Fear Inheritance Tax Changes Will Drive Youth Away

7/25/2025

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Summary

Story summary

Steve McLean, agriculture chief at Marks and Spencer, voiced strong opposition to impending inheritance tax changes, warning they could push young people away from farming. Beginning April 2026, a 20% tax on inherited agricultural assets exceeding £1 million looms, raising alarms among farmers about escalating costs and the future of family farms in the UK.

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Story summary

Steve McLean, agriculture chief at Marks and Spencer, voiced strong opposition to impending inheritance tax changes, warning they could push young people away from farming. Beginning April 2026, a 20% tax on inherited agricultural assets exceeding £1 million looms, raising alarms among farmers about escalating costs and the future of family farms in the UK.