Gildernew voices concern on tax ruling

Agriculture and Rural Development Minister, Michelle Gildernew, MP, MLA has expressed anger and disappointment at the refusal of the British House of Lords to hear an appeal against the decision to remove Business Property Relief from conacre land subject to Inheritance Tax.

The Minister said, "I have been following this particular case very closely over the past number of months as I have been aware of its potential implications for farming families' right across the north. This latest ruling by the British House of Lords is extremely disappointing and seems to mark the end of the road for the particular case in question.

"What we now need to know urgently is the wider implications of the ruling, and that still remains very unclear. At this point in time, it seems to affect only conacre land with development potential. However, some people are now beginning to suggest that the next target for Revenue and Customs will be Agricultural Property Relief itself, which would have huge implications for agriculture here in the north. I don't know if there is any basis to that speculation, but it's obviously a great worry for many farm families."

She continued, "If the legal route has now come to an end, then we must now try a political route and get a change in the law. Unfortunately, changing taxation law is not within the power of the Assembly or the Executive and we need to take the fight to the British Treasury. I know that the Finance Minister has already made representations to the British Treasury on this issue and I've written to add my support to him on this.

"The conacre system is unique to Ireland and we need to redouble our efforts on this and tackle what I see as a grave injustice and an attack on our local family farms and farming system. I am more than prepared to accompany the Finance Minister to any meeting with the British Treasury to get this situation reversed. I will be seeking an urgent meeting with Minister Wilson as soon as possible."

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