Hundreds of agricultural shops are threatened with closing because the owners of entrepreneurial land are faced with a double blow Rachel Reeves tax attack.
The Association for Retail of the Agricultural Economy (Fr.) said that what one of the two agricultural trade could be forced to close their doors in the coming years, because the owners of the stores were “budget affected by both ends”.
Britain currently has about 1,580 agricultural traders at the national level, according to the latest estimates by Harper Adams of 2022. These stores, which farmers often own and manage, employ 25,000 people.
The forecasts of Fr. suggest that more than 700 could be closed in the coming decades, with the loss of thousands of jobs.
Emma Mosey, President of Fr. -ei owner Minskip Farm Shop, said that such companies hit both of both Tax attack on farmers and on merchants.
She said, “We are facing inheritance tax changes, which, like other farms, will mean basically the sale of 20 PC assets of each generation to pay these additional taxes. But we also have a business side because we hire people in stores and that will cost more. “
The British retail consortium estimated that the budget added £ 7 billion in the cost of merchants, increasing the minimum wage and increasing the rate of national employers’ insurance, as well as lowering the threshold that employers must pay for it.
In the meantime, critics claimed to be a chancellor decision Tax relief for inheritance for farms worth more than one million pounds From 2026, many farmers will be ejected from the industry. Some have already said that they will have to share their estates to meet the bills as they fall.
Sean McCann, an authorized financial planner in the NFU Mutual, said: “The changes listed in the budget will be challenges to many rural companies, whether they are family farms or trading companies.
“As a result of a million pounds for help with agricultural property property assets, many agricultural families will face significant tax accounts, which could endanger many agricultural stores stores.”
He added that many farmers were “diverse to improve profitability, and agricultural stores are common for this”.
Mrs. Mosey said that the “eroding” of the agricultural industry was likely to make it difficult for agricultural stores to sources local products, presenting a challenge for those who continue to trade.
In some parts of the UK, Farm Shops face the limitations of what they are able to sell, with requirements for companies for sale of products only from nearby farms. In 2020. Jeremy Clarkson said he could only Sell products at his diddly squats that were from his farmobtained from a 16 -kilometer radius or were objects that the Council was particularly allowed.
