Written question WQ94811
- Asked by
- Andrew RT DaviesConservative
- To be answered by
- Deputy First Minister and Cabinet Secretary for Climate Change and Rural Affairs
- Tabled
- Due
- Answered
- Time to answer
- 7 days
Question
What steps will the Welsh Government take to ensure the sustainability and continuity of family-owned farms in Wales, in light of the proposed changes to inheritance tax exemption?
Declared interest
Answer
Answered by Deputy First Minister and Cabinet Secretary for Climate Change and Rural Affairs
Inheritance Tax (IHT) is a reserved tax controlled by the UK Government and applies across the UK.
HM Treasury figures suggest that that most farms will be unaffected by the changes. Further information can be found at What are the changes to agricultural property relief? - GOV.UK and Agricultural property relief and business property relief reforms - GOV.UK.
Mental health and well-being continue to be a top priority for Welsh Government. Farmers and rural communities are going through significant changes and the support provided by farming charities is crucial. Charities such as The DPJ Foundation, Tir Dewi, RABI, and Farming Community Network provide vital resources and helplines specifically designed for farmers. I encourage anyone experiencing poor mental health to take up the offer of support.