Following a long-fought campaign by the NFU, the government has confirmed the threshold for inheritance tax changes due to come into force next April will be raised to £2.5 million.

Labour’s plan ensures an inheritance tax of 20 per cent is imposed on farmers’ agricultural assets worth more than £1 million ...

But now the tax is being imposed on farms worth more than £2.5 million – increased from £1 million – with an effective tax ...