Scottish farm Paul McCartney bought to 'cut his tax bill' will be hit... by Starmer's inheritance tax!

He famously sang alongside his fellow Beatles in protest at the imposition of a ‘supertax’ under Harold Wilson’s Labour government.

Now, Sir Paul McCartney and his family face a fresh tax wrangle after Sir Keir Starmer and Rachel Reeves’ Labour budget put his Scottish farm at risk of an inheritance tax blow.

Sir Paul ‘begrudgingly’ purchased High Park Farm in Kintyre in June 1966 for around £35,000 after financial advisors suggested he invest in property amid rising tax charges for Britain’s wealthiest.

That same year – and at the peak of Beatlemania - the band’s hit Taxman was released - in a thinly veiled swipe at the government of the time. The song is said to have been written by George Harrison in response to the astonishing 95 per cent tax which The Beatles would have been subject to.

In the years since Macca bought High Park it’s value will have grown - helped in no small part by his purchase of five neighbouring farms.

However, Labour’s tax hike, which will come into force in April 2026, will see farmers slapped with a 20 per cent tax on inherited agricultural assets worth more than £1 million.

The move has had farmers up in arms with concerns it will force families that have been farming for generations to sell up.

Thousands of protestors swarmed outside Whitehall last week - including TV presenter Jeremy Clarkson - as many claimed the new move signalled ‘the end’ for farming.

Source: Ciaran Foreman/dailymail.co.uk

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