Farmers have shown an increased interest in life insurance due to inheritance tax (IHT) changes announced in the Autumn Budget, according to life insurance broker Reassured.
The Budget, announced by chancellor Rachel Reeves in September 2024, detailed that inherited agricultural assets would be subject to a 20% tax over a £1 million threshold. These assets had previously been subject to a 100% relief from IHT. The changes, which are set to come into force in April 2026, caused uproar amongst UK farmers, many of whom took to the streets of Westminster in protest. The argument from the farmers' perspectives is that, while they may be land rich, the changes may force some of them to sell land to pay the new tax. In response to these changes, Reassured has se...
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