Farmers on the march

[blup]

BS and a
P*** poor excuse

Do the right thing and cough up voluntarily set an example

I was making a point about what would happen if I did it. But why should I (or Rod for that matter) cough up to fill potholes? Or help the government help people to kill themselves?

 

[Munroast]

I did and hmrc said they are not authorised to over tax people

I can PM you some bank account details if you have some excess money that you have no use for

 

[motorbiking]

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.

You wouldn’t want to structure it like that.

 

[motorbiking]

I was making a point about what would happen if I did it. But why should I (or Rod for that matter) cough up to fill potholes? Or help the government help people to kill themselves?

HMRC don’t stop people over paying.

It’s a well known place to hide money

 

[carmanmemoranda]

HMRC don’t stop people over paying.

It’s a well known place to hide money

Pay them more than your books show you should and they are likely to investigate why.

I know someone that happened to. Not nice.

 

[blup]

I can PM you some bank account details if you have some excess money that you have no use for

Isn't that money laundering?

 

[blup]

HMRC don’t stop people over paying.

It’s a well known place to hide money

Isn't that money laundering?

 

[motorbiking]

No

 

[Odds]

As usual, there’s a disinformation campaign in progress from typically bent outlets. The Labour government maintain that farms worth under £3m can still be passed on for nothing; that all farmers will still pay 50% less inheritance tax than anyone else; and that only a quarter of farms will be affected by the most stringent of the new measures. I don’t claim to understand the complexities of the situation faced by farmers, but I would urge them to beware their newfound fellow travellers. Just as wealthy backers encouraged disgruntled Brits to vote for Brexit against their own interests, there may be self-serving motives in play among the farmers’ fair-weather friends, protecting their vast wealth by piggybacking on to the farmers’ understandable anxieties.

Andrew Lloyd Webber, who reportedly flew home first class from New York in 2015 to vote in favour of George Osborne’s tax credit cuts for the most vulnerable in society, owns a 5,000-acre farm, where he fertilises fields full of saccharine melodies with buckets of his own homemade slurry; Viscount Rothermere, controlling shareholder of the Daily Mail, owns a 4,700-acre farm that produces mainly bullshit; and the vacuum **** James Dyson, who backed Brexit and then moved his business to Singapore, apparently has 36,000 acres of farmland, British super-farms being an even better place to stash your vacuum cleaner cash than a lightly regulated, low tax, island city-state. With bellends like these, who needs frenemies?

Stewart Lee @ the Guardian

He goes on to eviscerate Clarkson's sanctimonious stand on behalf of small farmers...after the awkward moment at the rally last week when a Sky news reporter posed the same question on his purchase of Diddly Squat to avoid paying inheritance tax (and turning it into another reality tv show).

 

[motorbiking]

Nice essay. Didn’t read it

 

[carmanmemoranda]

Nice essay. Didn’t read it

Not surprised

 

[Notch7]

Nice essay. Didn’t read it

I dont suppose you will read this either:

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.

 

[Murdochcat]

£3 million for a farm including its assets isn’t much when you consider a combine harvester could be worth £500 k

And what about a child less unmarried farmer who wishes to pass to a nephew?

 

[Notch7]

I expect the following traditional British farmers are upset by the new rules:

• Anders Holch Povlsen
  Denmark's richest man and the largest individual foreign landowner in the UK, with 218,364 acres
• Sheikh Mohammed Bin Rashid Al-Maktoum
  The ruler of Dubai and the vice-president, prime minister, and minister of defense of the United Arab Emirates, with 63,000 acres
• Robert Warren Miller
  The founder of Duty Free Shop and a US sailing champion, with 36,000 acres
• Zambrano family
  The owners of Cemex, the world's second-largest buildings materials company, with 25,340 acres
• Count Luca Rinaldo Contardo Padulli Di Vighignolo
  The director of Albanwise, which grows oilseeds, leguminous crops, and cereals, with 25,000 acres
  
  

Other foreign investors in British farmland include: South Africans, Scandinavians, Italians, and Chinese

 

[Notch7]

£3 million for a farm including its assets isn’t much when you consider a combine harvester could be worth £500 k

And what about a child less unmarried farmer who wishes to pass to a nephew?

farms below about 1000 acres dont buy combine harvesters....they are only worth buying for very large farms that have most of their land used for growing wheat, oats, rye, barley etc
bigger farms that do buy them mostly lease

majority of farms are below £3m

I presume you prefer the situation where investors carry on buying farm land increasing its price and making it unaffordable for people who want to farm the land