Farmers on the march

[Notch7]

Does Jeremy Clarkson represent farmers?

Clarkson farm is over 1000 acres, that’s bigger than 90% of all farms

So no he doesn’t, he represents the 10%


There are 210,000 farms in the U.K.
60% of those farms are under 120 acres

50% of land in this country is owned by 1%

I wonder why billionaire media tycoons are upset about Labours new rules

 

[ellal]

You are clueless

Actually that's your status...

Remember the brexit vote?

But maybe you could redeem yourself...

Could you tell us why billionaires like the head of state (royal family head honcho in waiting) and the duke of westminster are/were allowed to avoid paying IHT?

 

[Notch7]

I never knew they were getting this massive freebie, this massive gift from the rest of us. and even now it is still just a frction of what the rest of us have to pay

I don't see why I should be funding these people who have been born into this great wealth, into this idyllic existence.

Get them taxed at the same rate as the rest of us, and if it bankrupts them then so what, let someone else take over the farm and make it pay.

Farmers get 100% Agricultural property relief / Business property relief up to £1 million and 50% above that.

So if you own a house worth over £1m, the IHT will be 40% above that, a farmer would pay 20%

So they still get a massive benefit

 

[Notch7]

Could you tell us why billionaires like the head of state (royal family head honcho in waiting) and the duke of westminster are/were allowed to avoid paying IHT?

They aren’t entirely exempt, so your question is meaningless

Poor Ellal wrong as usual

 

[Notch7]

I believe Ireland have APR.

You get 90% off of your IHT bill if you have been an active farmer for 6 years previous to your death.

But like all these things, you then start getting people working out ways to get around it

 

[motorbiking]

Ignore biking from the boatyards' 'struggling farmers' blather. His mantra amounts to 'adapt or die' (so long as it doesn't diminish the wealth of rich Tories). If they have to sell out to bigger farms, then so be it. There won't be much sympathy for subsidised farmers, especially those turkeys that voted for Brexit.
I remember struggling along on less than £50 per day when things were bad. No hoots were given.

You should have asked mrs noseall for more pocket money. She apparently drives an Audi.

 

[motorbiking]

Does Jeremy Clarkson represent farmers?

Clarkson farm is over 1000 acres, that’s bigger than 90% of all farms

So no he doesn’t, he represents the 10%


There are 210,000 farms in the U.K.
60% of those farms are under 120 acres

50% of land in this country is owned by 1%

I wonder why billionaire media tycoons are upset about Labours new rules

Clarkson rightly admitted it would take him 5 minutes to restructure his affairs to avoid the tax. He argued he was protesting with the farmers, not representing them. That and promoting his new show.

 

[ellal]

They aren’t entirely exempt, so your question is meaningless

Poor Ellal wrong as usual

Ah, well let's point out something for you...

"The Monarch is not legally liable to pay income tax, capital gains tax or inheritance tax because the relevant enactments do not apply to the Crown. The same is true for the income from the Duchy of Cornwall which is paid to The Prince of Wales"

That's from the government website

And...

"The Duke of Westminster avoided a billion pound tax bill, thanks to a legal loophole"

"Hugh Richard Louis Grosvenor became the 7th Duke of Westminster after the sudden death of his 64-year-old father in 2016. He also became the third wealthiest landowner in Britain and 68th wealthiest person in the world at the time"

"But the then 25-year-old Duke was able to keep all of his father's estate worth an estimated £9billion, thanks to an inheritance tax rule which meant he didn't have to hand over a huge amount to the government's coffers"

notchy wrong as usual

 

[motorbiking]

Farmers get 100% Agricultural property relief / Business property relief up to £1 million and 50% above that.

So if you own a house worth over £1m, the IHT will be 40% above that, a farmer would pay 20%

So they still get a massive benefit

Except you are forgetting the fact that it’s a farm and its value is almost irrelevant to its productivity, which is what farming is all about.

 

[ellal]

Except you are forgetting the fact that it’s a farm and its value is almost irrelevant to its productivity, which is what farming is all about.

And funnily enough a certain person initiated this post

 

[Nwgs2]

U

They aren’t entirely exempt, so your question is meaningless

Poor Ellal wrong as usual

But they are though.

 

[blup]

Clarkson rightly admitted it would take him 5 minutes to restructure his affairs to avoid the tax. He argued he was protesting with the farmers, not representing them. That and promoting his new show.

Not sure Clarkson ‘s Trust Fund will be such a good watch, tax avoidance is pretty dull technical stuff. He has already diversified into the new pub which will make far more money than the farm. No, his input was mainly about the impact on his investment portfolio, and a chance to jump on the anti labor bandwagon. By contrast IIRC hIs protest about the impact of brexhit was limited to the odd moan and a few column inches. He still has the chance to be a voice for farming if he gets stuck into the wider issues facing the industry. His show is the perfect vehicle.

 

[ajohn]

Except you are forgetting the fact that it’s a farm and its value is almost irrelevant to its productivity, which is what farming is all about.

The average price of arable land in England rose by 4% between 2022 and 2023, with an average price paid of £11,300/acre. Over 70% of the arable land traded in England during 2023 made more than £10,000/acre. As is usual, there was a much greater variability in pasture prices, because grassland can differ so much in terms of quality, with prices ranging from a low of £4,000/acre to a high of £16,100/acre, with an average of £8,700/acre.
It is interesting to note that total supply on the open market was 75,500 acres, which is 11% above the five-year average, but less than was available in 2022.

Land quality does relate to productivity.

Agricultural land values in England reached a new record in 2023

Q4 2023 edition of Strutt & Parker’s English Estates & Farmland Market Review which shows that non-farmers bought more farms than farmers in 2023.

rural.struttandparker.com

More
Non-farmers bought more than half of the farms and estates sold on the open market in England in 2023, with farmers accounting for the lowest level of transactions on record.
Analysis shows that farmers accounted for only 44% of open market transactions in 2023 when historically they have tended to be involved in 50-60% of purchases.
Meanwhile, non-farmer buyers – who are a mix of private and institutional investors and lifestyle buyers – accounted for 56% of sales, and because they also tend to buy larger farms, they bought a larger area of land than farmers too.

 

[motorbiking]

I already posted that article - what is the point you are making?

 

[ellal]

But they are though.

Looking forward to notchy trying to argue his way out of that one!