Exclusive: Government looks at changing rules so older farmers do not have to live for seven years after making a gift to avoid the taxNew inheritance tax rules for farmers could be changed to make it easier for those 80n and over to hand down their farm without it incurring the tax, in what would be a partial climbdown by the government after a bruising row with farmers and a huge protest march in Westminster on Tuesday.The Treasury is understood to be assessing the impact of changes, including amending gifting rules for over-80s so they can pass on their farm to their family without having to live for seven years after making the gift. Continue reading…
Source link : https://www.theguardian.com/money/2024/nov/21/farmers-aged-80-could-get-exemption-inheritance-tax-rule
Author : Helena Horton and Anna Isaac
Publish date : 2024-11-21 18:48:50
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Farmers aged 80 could get exemption from inheritance tax rule
