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<p><span class="author">Malcolm Prior</span><span class="role-location">rural affairs producer</span></p>
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<img src="https://ichef.bbci.co.uk/news/480/cpsprodpb/3a50/live/97c17950-ec85-11f0-9eec-7d519643d981.jpg.webp" alt="Tractors in Oxford city centre" />
<span>PA Media</span>
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<figcaption>Farmers protested in Oxford city centre against proposed inheritance tax reforms.</figcaption>
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<p>The government announced there will be no further changes to its reduced plan for increasing farm inheritance tax.</p>
<p>Protesters interrupted Environment Secretary Emma Reynolds during a speech at the Oxford Farming Conference with a tractor demonstration and horns.</p>
<p>Recently, the government raised the threshold for a 20% tax on inherited agricultural assets from £1 million to £2.5 million.</p>
<p>When questioned about any additional changes, Reynolds stated, "That's it, I'm afraid... the individuals here who have collaborated with us have made a difference, not those making noise."</p>
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<span>PA Media</span>
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<figcaption>Emma Reynolds emphasized the government's attentiveness to farmers' concerns.</figcaption>
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<p>Critics viewed the recent increase in the tax threshold as a retreat by the government amid months of protests regarding initial proposals from Chancellor Rachel Reeves' budget announcement in 2024.</p>
<p>Reynolds emphasized the government's engagement with farmers, stating they significantly raised the tax threshold effective in April.</p>
<p>Originally, the plans aimed to tax inherited agricultural assets over £1 million at a lower rate than normal inheritance tax, potentially generating £520 million annually by 2029.</p>
<p>The government argued these changes would safeguard smaller farms while preventing wealthy investors from exploiting farmland as a tax benefit.</p>
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<p>However, in December, the threshold was increased to £2.5 million, and with exemptions allowing tax-free transfers to spouses, a couple could reportedly pass on up to £5 million without incurring taxes.</p>
<p>The Country Land and Business Association (CLA) stated it would persist in its efforts to overturn the policy entirely, with CLA president Gavin Lane calling the government's partial reversal a "welcome relief" but still detrimental to the rural economy.</p>
<p>The National Farmers' Union (NFU) expressed ongoing opposition to the tax and intends to advocate for further reforms, though NFU president Tom Bradshaw recognized the relief it brought to numerous farming families.</p>
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<h2>Environmental Payments</h2>
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<p>Reynolds also assured there would be "no more abrupt closures" of farming payment programs as she unveiled reforms to the Sustainable Farming Incentive (SFI) in England.</p>
<p>The SFI, which compensates farmers for public goods like pesticide-free farming, had faced criticism when it was abruptly closed due to budget constraints.</p>
<p>Reynolds acknowledged past mistakes and announced plans for a "simpler, fairer, and more stable" scheme, with application windows opening in June and September for different farm sizes.</p>
<p>She advocated for utilizing agricultural payments to promote environmental benefits, emphasizing their importance for farming profitability.</p>
<p>The Wildlife Trusts urged a substantial increase in the budget for environmental schemes to effectively combat climate change and protect wildlife.</p>
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