The budget may still be more than six weeks away, but rumours of U-turns and changes are already in full swing.

Over the last few days, there have been multiple reports that those inside Whitehall are considering tweaks to the controversial inheritance tax (IHT) reforms on farms announced this time last year.

Plans to introduce a 20% tax on estates worth more than £1m drew tens of thousands to protest in London, many fearing huge tax bills that would force small farms to sell up for good.

Now there are reports the tax threshold could be increased from £1m to £5m (£10m for a married couple) - a shift that would remove smaller farms from being liable to pay.

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From February: Farmers continue tax protest

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