UK Inheritance Tax in Focus at Annual Farmers Conference (1)

In November, thousands of British farmers gathered in Westminster, protesting the Labour government’s decision to impose an inheritance tax on their assets for the first time in over three decades.

On Tuesday, they returned to London for the National Farmers’ Union annual conference, some maneuvering their tractors and blasting their horns, as anger against the levy remained center-stage.

Tractors outside the National Farmers’ Union conference in London, on Feb. 25.

Photographer: Chris J. Ratcliffe/Bloomberg

Chancellor of the Exchequer Rachel Reeves’ debut budget in October cut back an inheritance tax exemption on agricultural land. Under the new policy, farms valued over £1 million ($1.3 million) would face a 20% tax when handed down from one generation ...