Farming gets off lightly - the Chancellors Pre-Budget Report

Inheritance Tax nil rate band threshold to remain £325,000 for 2010/11.

(Source: Farmers Weekly, 11 Dec 2009)

Agriculture may have escaped relatively lightly from Wednesday’s pre-Budget report by Chancellor Alistair Darling, but tax experts have warned famers not to get complacent.

Many had feared that rules for Agricultural Property Relief from Inheritance Tax and Capital Gains Tax would be tightened, but both were noticeably absent from the full report which set out how the government would repay the country’s £178bn of borrowing.

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