Farmers on the march

[JohnD]

You seem to imagine that a farmer with a farm of nominal value £1M in somewhere like the south east is wealthy.

More nonsense.

Such a farmer would be unaffected.

 

[Munroast]

Not sure 14 hour days 7 days a week, on call 24/7, out in all weathers knee deep in manure, coping with increasing red tape, worried about a call from the bank manager is much of a lifestyle. Perhaps they should all sell up and let the big boys turn the farms into solar or intensive, chemically enhanced industrial mega farms.

its a choice, do we want cheap food or do we want family farming dynasties protect for eternity into a lifestyle many of us would dream of. They're both terrible options. I don't want the industrial type farms and I don't want to subsidies this self entitled farming community who feel we owe them a lifestyle

 

[crystal ball]

Not sure 14 hour days 7 days a week, on call 24/7, out in all weathers knee deep in manure, coping with increasing red tape, worried about a call from the bank manager is much of a lifestyle. Perhaps they should all sell up and let the big boys turn the farms into solar or intensive, chemically enhanced industrial mega farms.

Does that apply to all farmers, such as arable?

 

[JohnD]

Does that apply to all farmers, such as arable?

It applies to some workers, including farm workers, even if they do not have the benefit of owning a multi-million pound business.

What special handouts should we give them to compensate them for not receiving millions in tax concessions?

 

[carmanmemoranda]

Not sure 14 hour days 7 days a week, on call 24/7, out in all weathers knee deep in manure, coping with increasing red tape, worried about a call from the bank manager is much of a lifestyle. Perhaps they should all sell up and let the big boys turn the farms into solar or intensive, chemically enhanced industrial mega farms.

Nobody is forced to be a farmer anymore than any other job or career

 

[Notch7]

Maybe farmers need to stop their Netflix subs, expensive coffees and latest iPhones. Instead of relying on benefits

 

[Doitproper]

Could they not avoid IHT if the farm is registered as a ltd company?

Quite probably but I assume stamp duty would need to be paid on the transfer - around £300k ?? so also not an easy sum to find.

 

[Doitproper]

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

But also consider the contribution farmers make to the rural economy. Do away with farmers and many other businesses and trades operating in the countryside will be affected as well as a change to the landscape. Solar farms probably produce more profit than farming. Its not a binary argument and the effect will be similar to closure of a major business (say car plant) who support an economy well beyond the factory gate.

 

[JohnD]

But also consider the contribution farmers make to the rural economy. Do away with farmers and many other businesses and trades operating in the countryside will be affected as well as a change to the landscape. Solar farms probably produce more profit than farming. Its not a binary argument and the effect will be similar to closure of a major business (say car plant) who support an economy well beyond the factory gate.

What amount of handout should the taxpayer give to the ones who do not own farms?

 

[Notch7]

Just so people know, the £1million limit being bandied around is not correct.

The inheritance tax relief for farmers of £1million is on top of £175k Residence nil rate band + £325k nil rate band (where eligible)

So for farmers the actual IHT is between £1.325m and £3m.

So this claim that farmers won’t be able to pass it on to their children isn’t true….unless it’s a pretty big farm (like Jeremy Clarkson)


And, it’s likely closing the loophole will reduce farm land values so it’s likely to make farming more attractive

 

[Notch7]

I’ve had quite a few wealthy clients that own farms….or at least they bought the farm, made the farm house and curtilage a wonderful fancy country residence and either flogged off the farm land or rent it out to tenant farmers.

Around the Sussex / Kent area the place is full of wealthy people living in period houses….many of them farms.

 

[blup]

Macca and Gilmour

 

[transam]

I don't get how people see tax as some kind of inherent evil to be stamped out at all costs. We are taxed far less than most of europe.

Good than you can volunteer to pay more income tax

Yeah right