Following a wave of protests, Defra has backtracked on its Autumn Budget inheritance tax (IHT) thresholds and announced an increase to £2.5 million. The change comes into effect in April 2026, and the original threshold will have meant an effective tax rate of 20% on agricultural assets valued over £1 million. The NFU spearheaded a 14 month campaign to get the government to reconsider its decision and NFU President Tom Bradshaw is delighted with the news. “After it became clear that this policy wasn’t going anywhere, we have focused our campaign to mitigate the worst of its impacts for the…