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| Version 0 | Version 1 |
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| 'If I die my children will have to find £500,000' | 'If I die my children will have to find £500,000' |
| (about 2 hours later) | |
| Clare Wise is the sole owner of her farm, which means tax benefits for those who own land jointly will not apply to her | Clare Wise is the sole owner of her farm, which means tax benefits for those who own land jointly will not apply to her |
| A farmer says if she were to die, her children would have to find £500,000 in inheritance tax. | A farmer says if she were to die, her children would have to find £500,000 in inheritance tax. |
| Clare Wise's family have had Manor Farm, near Darlington, County Durham, since 1875, but she fears changes introduced in last month's Budget mean she will not be able to pass it onto her daughters. | Clare Wise's family have had Manor Farm, near Darlington, County Durham, since 1875, but she fears changes introduced in last month's Budget mean she will not be able to pass it onto her daughters. |
| "You wouldn't ask a plumber to sell his tools and keep on working, but that's what we're being asked to do," she said. | "You wouldn't ask a plumber to sell his tools and keep on working, but that's what we're being asked to do," she said. |
| A government spokesperson said it had inherited a "£22bn fiscal hole" and with "public services crumbling" it had made a difficult decision to ensure the relief on inheritance tax was "fiscally sustainable". | A government spokesperson said it had inherited a "£22bn fiscal hole" and with "public services crumbling" it had made a difficult decision to ensure the relief on inheritance tax was "fiscally sustainable". |
| Clare Wise says the changes will also push up food prices | Clare Wise says the changes will also push up food prices |
| Farm land is not currently subject to inheritance tax but from April 2026 any land worth more than £1m will be taxed upon the death of its owner at a rate of 20%, half the usual rate of 40%. | |
| The government says two people who own a farm jointly will be able to pass on land and property valued up to £3m tax free. | The government says two people who own a farm jointly will be able to pass on land and property valued up to £3m tax free. |
| What is inheritance tax, who pays it and what's changing for farmers? | What is inheritance tax, who pays it and what's changing for farmers? |
| But that will not benefit Ms Wise, who is the sole owner of her mixed farm at Little Stainton. | But that will not benefit Ms Wise, who is the sole owner of her mixed farm at Little Stainton. |
| She said there was "no money for a big inheritance bill" and "our future is being ripped out from under us". | She said there was "no money for a big inheritance bill" and "our future is being ripped out from under us". |
| Clare Wise hosted the Prince and Princess of Wales in 2021 | Clare Wise hosted the Prince and Princess of Wales in 2021 |
| A government spokesperson said with 40% of Agricultural Property Relief going to the 7% wealthiest claimants, this was a "fair and balanced approach". | A government spokesperson said with 40% of Agricultural Property Relief going to the 7% wealthiest claimants, this was a "fair and balanced approach". |
| "Around 500 claims each year will be impacted and farm-owning couples can pass on up to £3m without paying any inheritance tax," they added. | "Around 500 claims each year will be impacted and farm-owning couples can pass on up to £3m without paying any inheritance tax," they added. |
| "The £2.4bn announced for the farming budget next year is the largest ever directed at sustainable food production in our country’s history." | "The £2.4bn announced for the farming budget next year is the largest ever directed at sustainable food production in our country’s history." |
| Follow BBC Tees on X,, external Facebook, external, Nextdoor, external and Instagram, external, external. Send your story ideas to northeastandcumbria@bbc.co.uk. | Follow BBC Tees on X,, external Facebook, external, Nextdoor, external and Instagram, external, external. Send your story ideas to northeastandcumbria@bbc.co.uk. |