The Bishop of St Albans asked a question on farmers concerns regarding new inheritance tax regulations on 5th November 2024, following repeat of a Commons Urgent Question on the effects of the budget on farming communities:
The Lord Bishop of St Albans: My Lords, can the Minister help us a little? The Treasury figures state that fewer than 25% of farm businesses will be affected by the changes to APR on inheritance tax. However, the NFU estimates that up to half of all working farms could be impacted by the new tax rules. Why is there such a large discrepancy? Can she help us to understand what is going on?
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