THE millionaire parents of a Labour MP transferred farmland to his brother 20 days before his party’s inheritance tax grab.
Henry Tufnell’s family put hundreds of acres beyond the reach of the taxman, according to reports.
The move could save the family millions in future tax liabilities under new rules.
The MP denies any prior knowledge of the tax changes.
He told the Daily Mail: “I appreciate that it looks bad, but there’s nothing that I can do about it.
“I think the main idea here is that your family remains your family, and even though Dad sought tax advice, consulted with financial experts, and began planning for succession, it was not due to any input from me.”
Expressing her views, Vicky Atkins, the Shadow Environment Secretary, criticized the situation, stating, “This demonstrates further Labour’s double standards – one set of rules for struggling British farmers, and another for a wealthy Labour MP’s estate.”
Mims Davies, the Shadow Welsh Secretary, chimed in by saying, “Dedicated farmers and their families are being disregarded, and upon discovering this distressing information, they will likely feel even more let down.”
“Labour needs to urgently rethink their disastrous policy.”
