East Yorkshire farmers urge government to rethink £1M inheritance tax plan
A demonstration took place in Beverley today
Last updated 8th Jan 2025
A motion has been passed at East Riding of Yorkshire Council to urge the government to reconsider next year’s planned inheritance tax on assets over £1 million.
They have been considering a motion to oppose a 20% levy on assets worth more than a million pounds. The motion was passed with 51 votes 'yes', 5 votes 'no' and 1 abstention.
It's as farmers gathered at Beverley Westwood this lunchtime for a demonstration.
Bridlington and the Wolds MP Charlie Dewhirst told us the impacts could be huge, he said:
"East Yorkshire is largely just a rural community with some fantastic market towns, and it is really important that our economy is based around agriculture, so we need to make sure that our local community's voice is heard.
"I've got a family that's involved in farming, so I do understand this, how important this is. It's also really important to understand how this affects businesses around the county as well, because so many businesses are relying on farms, and that is a really important part of our rural economy, and everyone will be impacted by this."
Over one hundred farmers turned out for the demonstration that saw around eighty tractors make their way to the council offices, they said:
"We are sticking together because it's a common problem that we're in to fight, and the taxing is the dropping, the subsidies, the cutting, all those by 70%. They want to put tax on extra tax on fertiliser, which is basic commodity. They're looking at maybe increasing tax on our basic farm vehicles. "
Another farmer said:
"If this inheritance tax carries on going through as me as a farmer when my dad passes, more than likely we're going to have to sell some land to pay the inheritance tax. Well, my argument is you don't ask a builder to sell his tools to pay his inheritance tax. If you take that land away from us, we can't farm."
The government says the change next year won't affect the vast majority of farms.
The farmers have received backing from Tesla owner Elon Musk. He posted this earlier.