Farmers on the march

[motorbiking]

Why should one group be exempt, and not others?

what do you think will happen when they are hit with the massive bill? Do you think they will work for free for the next 20 years to pay the tax, or do you think they will sell the farm or part of it for other use, resulting in less farmland available to grow food or more farmland in the control of wealthy global corporations, and smaller less efficient farms.

 

[JohnD]

what do you think will happen when they are hit with the massive bill?

How much more generous do you think a family farm should be treated, compared to a family pie shop or a family bootmaker? Or a family property company or a family airline?

 

[Brigadier]

Most farmers are land rich, cash poor...

So, they can afford it then

And they will be forced to sell up to large corporates

Link?

But as you mention 'passing wealth down, tax-free, for generations', what do you have to say about the royal family being exempt?

Apart from the fact that I support the monarchy, it is not "their" wealth: it is "ours" (as in, belongs to the nation).

Or such hangers on like the Duke of Westminster?

Not so keen on the extended bunch, no.

!

What is it with you and exclamation marks: is it some form of Tourette's, or are you just given to drama / hysteria?

 

[Notch7]

what do you think will happen when they are hit with the massive bill? Do you think they will work for free for the next 20 years to pay the tax, or do you think they will sell the farm or part of it for other use, resulting in less farmland available to grow food or more farmland in the control of wealthy global corporations, and smaller less efficient farms.

you havent answered this

Why should one group be exempt, and not others?

 

[crystal ball]

That's because the service they provide, ie. feeding the nation, is far more important that what the rest of the population do. Without them putting food on everyone's tables nothing else can function.

Unfortunately dumb, know-nothing townies have been fed bs that all farmers are rolling in it and drive about in new Range Rovers all day. The reality is far from the truth. We need to secure our food supplies or we will be forced to import everything. Let's hope they don't need to go on strike to show how vital they are.

Do you think farmers would survive without the rest of the population? Including tradesmen, who do you think designs and installs milking parlours, builds trailers, repairs machinery

 

[Notch7]

what do you think will happen when they are hit with the massive bill?

who will be hit with a massive bill?

 

[Brigadier]

what do you think will happen when they are hit with the massive bill? Do you think they will work for free for the next 20 years to pay the tax, or do you think they will sell the farm or part of it for other use, resulting in less farmland available to grow food or more farmland in the control of wealthy global corporations, and smaller less efficient farms.

Farms and farmland in the UK increases in value, year-on-year.
According to a quick Google, at rates surpassing even that of gold recently.


"My parent's farm increased in value by £120k last year.
It will likely do the same, or even better, next year, and the years after that.
Rather than release some of that equity to pay an IHT, I want the whole lot for myself."

How accurate a description is the above?

 

[Notch7]

because even with a 10 year interest free loan, it will take more than 100% of their next 10 years profits to pay the IHT due.

are you sure?

how many are you saying will be affected


this table shows only 500 farm estates claimed agricultural property relief (APR) of more than £1m in 2022.

But that overstates the issue. Married couples can easily claim the £1m cap twice. Small farmers without other assets can use their nil rate band. So for a married couple running a farm, it could be worth £2.65m before the restriction on the relief costs them a penny.

That could mean as few as 100 farms per year are affected. And the 20% tax is only on the excess over the threshold, so for most of the 100, the additional tax will be reasonably small. Insure against it when you're young(ish). Give some/all to your kids when you get older.

 

[Brigadier]

We need to secure our food supplies or we will be forced to import everything.

Like fuel for our ICE cars, you mean?
Rather than our own, homegrown leccy for our EVs?

Bloody hypocrite

 

[noseall]

That's because the service they provide, ie. feeding the nation, is far more important that what the rest of the population do. Without them putting food on everyone's tables nothing else can function.

Unfortunately dumb, know-nothing townies have been fed bs that all farmers are rolling in it and drive about in new Range Rovers all day. The reality is far from the truth. We need to secure our food supplies or we will be forced to import everything. Let's hope they don't need to go on strike to show how vital they are.

Wealthy land owning, Range Rover driving Tory voters, don't go on strike.

 

[motorbiking]

Farms and farmland in the UK increases in value, year-on-year.
According to a quick Google, at rates surpassing even that of gold recently.


"My parent's farm increased in value by £120k last year.
It will likely do the same, or even better, next year, and the years after that.
Rather than release some of that equity to pay an IHT, I want the whole lot for myself."

How accurate a description is the above?

None of which helps you if you are earning less than £150 per acre after costs.

 

[motorbiking]

are you sure?

yes. It's easy to look at the value of farms by region. There are farm equiv. of rightmove. A typical 350 acre farm in the SE/South sells for £4-8M. But you can do your own research on values.

who will be hit with a massive bill?

The descendants who want to carry on farming their parents farm who inherited it from their parents, who inherited from their parents.

 

[noseall]

What is it with you and exclamation marks: is it some form of Tourette's, or are you just given to drama / hysteria?

Writers say you should include very few exclamation marks when compiling literature. It's almost like it's bad manners to use them. To over-use them indicates a severe lack of nous.

 

[diy_fun_uk]

Get the work-shy back to work, all of 'em.

That should cover it.

 

[Brigadier]

None of which helps you if you are earning less than £150 per acre after costs.

Righto, as you are wont to say