Reeves broke “promises” on farmer inheritance tax reforms, court hears

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Mar 17

Photo credit: Aaron Chown/PA Wire Rachel Reeves “broke promises” when she failed to consult over changes to inheritance tax (IHT) reliefs in her first Autumn Budget, a court has heard. The Chancellor’...

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But after a year of protests by farmers, Labour announced a surprise partial U-turn in December, raising the threshold to 2.5m from 1m, effective from April 2026.The Treasury now faces a legal challenge over the procedure it undertook before making these changes, as a judicial review argues that it acted unlawfully by failing to follow its 2011 ‘Tax Consultation Framework’.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4181":"酒店及度假村房地产投资信托","IHT":"InnSuites Hospitality Trust","BK4218":"酒店及度假村房地产信托"},"translate_title":"法院获悉，里维斯违背了农民遗产税改革的“承诺”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IHT":1},"content_text":"Photo credit: Aaron Chown/PA Wire Rachel Reeves “broke promises” when she failed to consult over changes to inheritance tax (IHT) reliefs in her first Autumn Budget, a court has heard. The Chancellor’s proposed changes to agricultural property relief (APR) and business property relief (BPR) represent one of the biggest shifts in IHT policy in decades. In the 2024 Autumn Budget, Reeves revealed significant changes to the tax code, including applying a 20 per cent tax to agricultural assets over £1m. But after a year of protests by farmers, Labour announced a surprise partial U-turn in December, raising the threshold to £2.5m from £1m, effective from April 2026.The Treasury now faces a legal challenge over the procedure it undertook before making these changes, as a judicial review argues that it acted unlawfully by failing to follow its 2011 ‘Tax Consultation Framework’.\n\nThe claimants are farmers Thomas Martin and George Martin of the campaign group Farmers and Businesses for Fair Tax Relief, and the professional services firm Alvarez & Marsal.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBarrister Aparna Nathan KC told the court on Tuesday that the framework requires at least one public consultation, but stated that none was carried out. Instead, it was argued, rather than consulting on the totality of the changes to APR/BPR, the Chancellor published a consultation document on trusts, which made up “only a limited aspect” of the proposed changes. Nathan KC told the two judges that “the defendants [government] broke that promise” for a public consultation. Questions raised over parliamentary privilegeHowever, another argument in the case concerns whether the court has jurisdiction to review executive actions that lead to legislation.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}