- The changes announced yesterday to Agricultural Property Relief (APR) and Business Property Relief (BPR) will see agricultural assets over £1m attract an inheritance tax at a rate of 20% from April 2026.
- The average size of a farm in Wales is roughly 118 acres.
- The average price for arable land in Wales is £8,500/acre.
- 118 acres of land at £8,500/ acre puts the average value of a Welsh farm at £1,003,000 – Not including the value of buildings, livestock or farming equipment the value of land per acre alone will drag the majority of Welsh farms into the new tax rules.
“The rural community will no doubt be deeply concerned about the disturbing implications to farming families across Wales.
“With the Welsh Government’s Sustainable Farming Scheme and this new family farm tax, we now have two Labour Governments on each side of the M4 working in tandem to destroy farming in Wales.
“This is another broken promise from Labour and unless they row back these plans, we will not only see a breaking up of family farms but a very real threat to our nation’s food security.”
