Farmers protest in London on Pancake Day

The Amnesty March has taken place on Pancake Day, 4th March. The participants gathered at Westminster at 12 noon to listen to speeches from industry leaders and walk the streets of the capital, showcasing their dissatisfaction with policies announced at the Autumn Budget. 

One of the organisers of today’s rally, Olly Harrison, said: “We’re going to explain, as it’s never been more important, especially with what’s been going on in the world now with the threat of war, how important food is and the risk that we’re taking with the amount of money invested, and why this inheritance tax is not sustainable to keep people farming. 

“We need an exemption for more people that are not going to live seven years; that is what the day is all about. We still need to remind the government that food has to be grown in the UK to the highest level possible to give us some sort of security.” 

‘Scary times not just for farmers’ 

One of the speakers at today’s rally, CLA president Victoria Vyvyan, said: “The CLA will not give up, the entire industry will not give up, and we want answers: Why will the Chancellor not meet us? Why won’t the Treasury consider the ‘clawback’ alternative that has the tax take, solves the problems, and which has industry support? How does this government expect farmers to pay inheritance tax bills without breaking up their businesses?” 

The government’s change to Agricultural Property Relief (APR) from 6th April 2026, will see 100% relief from IHT restricted to the first £1 million of combined agricultural and business property.  

Above this amount, landowners will pay up to 20% IHT, paid in instalments over 10 years, interest-free, and a couple can pass on up to £3 million free of inheritance tax. 

According to the new study commissioned by finance and mortgage advisory firm Ashbridge Partners, over one in 10 farmers say they will face an IHT bill of over £1 million due to the inheritance tax hike, with more than a third (31%) expecting to pay over £500,000. 

Great to be at the #pancakerally on Whitehall today – @CLAtweets President Victoria Vyvyan is among the speakers: We will not give up & Treasury must listen to alternatives to their disastrous farm tax policy #CLA #London @loosecollie @agricontract @FarmersWeekly @FarmersGuardian pic.twitter.com/uIxZzFQwQP

— CLA South East (@CLASouthEast) March 4, 2025

The average Farm Business Income (FBI) was £86,000 across all farm types in Great Britain, according to 2022/23 data, with 17% failing to make a positive FBI that year and only 41% making over £50,000. At the average income level, it would take inheritors 11 to 12 years to pay off an IHT bill of £1 million – more than the government’s 10-year instalment option. 

Furthermore, only 40% of farms polled by Ashbridge Partners expect to fall below the proposed tax relief caps – leaving the equivalent of 125,400 UK farms* above the threshold – a stark contrast to the government’s estimates of ‘significantly less than 500 estates per year.’   

In total, 60% of farmers worry that their business won’t be financially sustainable in the future if ministers forge ahead with their plans.

British farmer and influential farming voice, Mr Harrison, added: “Any politician’s priority should be to keep its nation fed. I’m shocked by the lack of understanding by government of what UK farms do, three times a day, every day for everybody in the country. These are scary times and not just for farmers. The question is, will we see ration books again or even a ration app?” 

Forced to sell land and assets  

To cover the cost of their inheritance bill, nearly half (41%) of the farmers surveyed will have to sell off at least half their farm business, with 39% selling off farmland.    

When asked who they would likely have to sell their land to, more than half (58%) believe they will end up selling to UK and international corporations or ‘tycoons’ – potentially threatening the future of UK farmland staying in the hands of traditional UK farmers.  

Previous industry reports indicate that, in the last 12 months, private and institutional investors, along with “lifestyle” farmers, account for more than half (53%) of agricultural land purchases in England. Just 47% of acquisitions were from traditional farmers.  

That’s something you don’t see everyday #pancakeRally #london pic.twitter.com/6lPsHXuN0L

— Olly harrison 🥛🍔🌱AccidentalYoutuber (@agricontract) March 4, 2025

In response to the government’s inheritance tax plans, in November last year approximately 13,000 farmers descended on the capital in protest.  

Subsequent rallies in December, January, and earlier this month saw hundreds of tractors line the streets of central London and in other cities around the country, as the sector contemplates the reality of having to sell their business or assets to cover the family farm tax.  

According to Ashbridge Partners’ research, 17% of respondents said they will have to sell agricultural buildings, 7% will need to sell vital machinery, and 4% are considering selling other properties, while 27% said they will need to liquidate shares and future investments.  

Nearly one in ten will have to go as far as to sell the farmhouse, and 23% also reported that their farm shop could be at risk of sale, putting over 360 shops – 1581 currently in operation – at risk of closure or under new ownership. 

READ MORE: Another farming rally set to take place on Pancake Day

READ MORE: Stories from the crowd: ‘Don’t argue with the countryside’ 

‘Treasury will be taxing business assets’

Mark Ashbridge, managing director of Ashbridge Partners, said: “The proposed changes could dramatically affect farming families and businesses. With over half of UK farms at risk in the next 10 years, these policies simply aren’t affordable or sustainable for the majority of farmers. 

“If these proposals go ahead, we expect to see a wave of farmers seeking loans and exploring other forms of raising capital to cover these IHT costs, which, when you take into account the average farm is making £86k a year, again brings into question the viability of these tax changes.” 

Exactly this. ⬇️ pic.twitter.com/J7mzLfALaN

— No Farmers, No Food (@NoFarmsNoFoods) March 4, 2025

Victoria Vyvyan, president of the CLA, added: “The Ashbridge Partners’ survey reinforces the CLA research that points to an inescapable truth – English and Welsh farms and small businesses, for the most part, do not have the profits to pay this tax. 

“This significant survey, commissioned by Ashbridge Partners, shows that this government’s proposed changes to inheritance tax have failed to recognise that the Treasury will be taxing business assets and as they are sold – farm businesses will become unviable.” 

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