Inheritance Tax, wheat strikes and public opinion – Finding clarity amid the noise

It is hard to ignore the headlines right now. Farmers withholding wheat. Hot cross bun shortages. Inheritance Tax (IHT) grabbing national attention for all the wrong reasons.

If you are in the farming world, you might be feeling a mix of frustration, fatigue and maybe even fear.

For many of our clients, it impacts the long-term future of their land, their business and their family. The noise in the press hardly helps, either..

We are not here to add fuel to the fire, but we do think it is worth pausing to make sense of what is actually going on, what it means in practical terms, and how to respond in a way that protects your business without losing sleep or momentum.

Why are farmers so angry?

The flashpoint, of course, is the Government’s proposed changes to Agricultural and Business Property Relief, set to come into force in April 2026.

For years, these reliefs have helped family farms pass land and assets down the generations without triggering an enormous IHT bill.

Now, the plan is to cap relief at £1 million. Anything above that could be taxed at 20 per cent. In theory, that might sound reasonable, but in practice, for farms where land value is high but cash flow is tight, it is devastating. No one wants to sell off fields just to pay a tax bill.

The protest you are seeing is rooted in that fear. Not just of higher taxes, but of losing independence, losing livelihoods, and losing the ability to feed the country.

What does the public think?

Up until now, most people have been very supportive of British farmers.

They like to know where their food comes from, they understand the pressures of running a farm, and they want to see British land used for British produce.

However, this strike and the idea of empty shelves might test that patience.

If hot cross buns and bread start disappearing from supermarket aisles, public opinion could shift.

That is a risk, and some farmers are rightly worried about whether this protest will help or hinder their cause.

So what should you do?

Here is where we come in. As advisers, our job is to help you manage all of this without panic. Yes, the political situation is frustrating. Yes, the tax changes are worrying, but this is not the first time farming has faced upheaval, and it won’t be the last.

Rather than react to the headlines, we would suggest using this time to get your affairs in order:

• Start early – If your farm’s value exceeds £1 million in business or agricultural assets, don’t wait until 2026. Let’s look now at how your estate is structured and what options are available.
• Review succession plans – Many of these changes will hit hardest when land is passed down. If you have been putting off those tricky family conversations, now is the time to start them.
• Keep good records – The more clearly you can demonstrate how your land and buildings are used, the better positioned you’ll be to claim full reliefs where available.
• Avoid knee-jerk decisions: Selling land or changing ownership structures too quickly can create more problems than it solves. Let us talk through the long-term impact before doing anything drastic.

You don’t need us to tell you that farming is hard enough without political wrangling getting in the way. However, amid the uncertainty, there is one thing you can control, which is how well prepared you are.

We are here to support you with honest advice, calm thinking, and a plan tailored to your farm, your family and your future.

If you want to talk through your options, contact us today.

Andrew Perrott