Family transfers farmland to avoid tax implications
The millionaire parents of a Labour MP made a strategic move by transferring farmland to his brother just 20 days before the Labour party's inheritance tax plans came into effect. Reports suggest that this decision could potentially save the family millions in future tax payments under the new regulations.
MP denies prior knowledge of tax changes
Henry Tufnell, the MP in question, has denied having any prior knowledge of the impending tax changes. In a statement to the Daily Mail, he emphasized that his family's actions were based on advice from financial experts for succession planning purposes.
Labour faces accusations of hypocrisy
Shadow Environment Secretary Vicky Atkins criticized the move, calling it a display of Labour's hypocrisy, where different standards seem to apply to wealthy MPs and ordinary British farmers. Shadow Welsh Secretary Mims Davies echoed similar sentiments, stating that hardworking farmers are feeling betrayed by the party's policies.
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