Government announces inheritance tax U-turn for farmers
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Inheritance Funding reports that inheritance tax limits vary by state. Close relatives often avoid taxes, whereas distant ones face higher rates.
Reforms to agricultural property relief had sparked strong opposition, and the government has now diluted its controversial inheritance tax plans for farmers
Businesses cheered Labour's climbdown, which will see a rise in the threshold for death duties on family businesses and farms worth £1m to £2.5m.