Ministers raise inheritance tax threshold for farms after backlash

U-turn lifts limit from ?1m to ?2.5m after protests and warnings that family farms were at riskMinisters will increase the threshold for taxing inherited farmland from ?1m to ?2.5m after months of pressure from campaigners and MPs representing rural areas.In a statement slipped out just before Christmas, the environment department announced the U-turn which will apply from April when the tax is due to kick in. Continue reading...