An amendment to controversial plans to revamp the inheritance tax system for farmers has been cautiously welcomed but still does not go far enough, according to a trade union.

The National Farmers' Union (NFU) said the change outlined in Wednesday's Budget were nowhere near enough to protect many family farms and did nothing to remove the "cruel impact" of the policy on elderly and vulnerable farmers .

Farm land is exempt from inheritance tax under a policy called 'agricultural property relief' but, under the original planned changes, a 20 per cent tax was due to be applied from April to agricultural assets worth more than £1 million.

Now, the policy has been tweaked by Chancellor of the Exchequer Rachel Reeves, meaning the £1 million threshold of the tax will be transferable betwee

See Full Page