Jeremy Clarkson breaks his silence on Labour's inheritance tax hike

by · Mail Online

Jeremy Clarkson said farmers had been 'shafted' as he broke his silence on Labour's inheritance tax hike announced in the Budget on Wednesday. 

Chancellor Rachel Reeves today closed a tax loophole, making it harder for farmers to pass money down to future generations. 

Previously those owning farmland benefitted from Agricultural Property Relief, meaning they were exempt from inheritance tax. 

But now for those with farms worth more than £1million, the 'death tax' will apply with a 50 per cent relief at an effective rate of 20 per cent from April 2026.

Mr Clarkson, who owns a 1,000 acre farm in the Oxfordshire, posted on X: 'Farmers. I know that you have been shafted today. 

'But please don't despair. Just look after yourselves for five short years and this shower will be gone.'

Jeremy Clarkson said farmers had been 'shafted' as he broke his silence on Labour's inheritance tax hike announced in the Budget on Wednesday
Chancellor Rachel Reeves said the country had 'voted for change' and vowed to 'invest' as she mounts one of the biggest raids in history in the Commons
The Top Gear presenter also recently opened a pub, The Farmer's Dog, in Asthall, near Burford in Oxfordshire

Mr Clarkson's comments come after he revealed earlier this month that he was 'days away from death' and had to undergo lifesaving heart surgery after falling ill on holiday. 

Read More

Furious pub owners accuse Labour of doing 'nothing to help' boozers - as Jeremy Clarkson weighs in

The 64-year-old said he began to feel 'clammy' with tightness in his chest, and pins and needles in his left arm. 

He was admitted to hospital and told by doctors he must make major changes to his lifestyle.  

Mr Clarkson previously said in his Sunday Times column that he 'liked having the farm for very good reasons', adding: 'There are no death duties on farmland, so my children like me have it too.'

Ms Reeves, however, said in her speech that small family farms will continue to be protected from inheritance tax with three-quarters of claims unaffected.

The policy is one of a number of changes to death duty announced today with pensions also becoming liable for tax. 

From 2027, the value of pensions pots will be included in estates and caught in the net of inheritance taxes.

This means thousands of grieving families will be dragged into paying the dreaded death duty for the first time at a rate of 40 per cent.

Mr Clarkson bought Diddly Squat Farm in the Cotswolds back in 2008 but has managed it himself since 2019
The 64-year-old has documented his radical career change on his hit Prime Video show Clarkson's Farm
Ms Reeves carried out the traditional photo op outside the famous No11 black door today 

The former Top Gear presenter also criticised Ms Reeves for not doing enough to help the beleaguered booze industry. 

In her speech today when she unveiled a staggering £40million tax bomb, the Chancellor cut draught duty by a meagre 1.7 per cent.

In a scathing critique, Mr Clarkson, who opened his £1million pub in the Cotswolds earlier this year, wrote on X: 'Rachel Reeves. I literally daren't comment,' before adding: 'We have a new government. It's turning out to be hopeless.'

While Clarkson's former Top Gear co-host James May lamented: 'Cripes: a penny off a pint of beer. This is a small step to putting the 'great' back in to United Kingdom.'

Mr Clarkson bought Diddly Squat Farm in the Cotswolds back in 2008 but has managed it himself since 2019. 

The 64-year-old has documented his radical career change on his hit Prime Video show Clarkson's Farm. 

The show, which has already run for three series, became the streaming platform's most-watched original series in the UK last year.