The Farmers Fight

keepingquiet

'I understand the farmers will have to hold over £3 million worth of assets? I find it difficult to feel sorry for someone with that much wealth to be honest.'

Farmers are possibly asset rich but cash poor so someone with that £3 million farm is not rich- he will never actually see that £3m but his heirs will still be expected to find that huge amount of IHT!
I also find the the Labour Party's view of what constitutes 'rich' unrealistic to put it mildly.

Stella14

Most farmers won’t be liable for inheritance tax. This is aimed at wealthy landowners who have been buying-up farming land. Many of whom are in the aristocracy. Jeremy Clarkson, multi millionaire is one of the ‘poor souls; who is bleating on about how mean the tax is 🙄 For those rich landowners who will be effected, their inheritance tax has been set at half that of everyone else. Our public services have been smashed to pieces in the last 15 years. Funding our NHS is much more important to me than than the tears of the super rich www.theguardian.com/commentisfree/2024/nov/17/farmers-have-hoarded-land-for-too-long-inheritance-tax-will-bring-new-life-to-rural-britain?CMP=Share_iOSApp_Other

One third of children in the UK are living in poverty, wrap your heads around that.

Farmers struggle. I'm friends with one. They produce REAL FOOD - what is the agenda of a government that targets farmers? Two-tier Kier will find an excuse to arrest and imprison whoever he wants - terrorism charges are a good one.
As for Rachel Reeves not thinking about hospices etc. - really? This is not a government for the people and gradually people will wake up to their globalist agenda, hopefully before it is too late

Stella14

Most farmers won’t be liable for inheritance tax. This is aimed at wealthy landowners who have been buying-up farming land. Many of whom are in the aristocracy. Jeremy Clarkson, multi millionaire is one of the ‘poor souls; who is bleating on about how mean the tax is 🙄 For those rich landowners who will be effected, their inheritance tax has been set at half that of everyone else. Our public services have been smashed to pieces in the last 15 years. Funding our NHS is much more important to me than than the tears of the super rich www.theguardian.com/commentisfree/2024/nov/17/farmers-have-hoarded-land-for-too-long-inheritance-tax-will-bring-new-life-to-rural-britain?CMP=Share_iOSApp_Other

I still dispute the claim that most farmers won't be liable. Having farmed for 50 years we still have many friends and family farming. They all farm 300+ acres - an average sized farm in Warwickshire - and all will be liable . I would not put myself or them in the "super rich" category - unless "super rich" means rarely being able to afford a good holiday, driving elderly cars and unable to educate our children privately .

I think it's the Mail and Telegraph that say 70%. Family farms can be worth c£3 million and still not be eligible for IHT. And anything over that IHT is 20%. Non farmers allowance for a couple would be around £650000, and 40% over that. So I can't see how farmers are hard done by. And when the likes of James Dyson buy up land just to avoid tax, something has to be done.

Jeanathome stated that "One third of children in the UK are living in poverty, wrap your heads around that."

Well the quickest and simplest way to start to remedy that would be to get rid of the benefit cap on more than two children in a family. In fact, take the welfare state back to being based on need.
Anytime I have mentioned this just leads to lots of posts saying that these children should not have been born in the first place, if their parents could not absolutely guarantee that their circumstances would never change from being able to afford them.
A few decent labour party MPs voted to repeal at least the cap on children receiving what they need for a decent life. The Labour whip was removed for their trouble.

Hear hear JanCl

I don't know if these are farmers or celebrities or members of the public, but alot of solidarity on show in Whitehall today.

Many love a protest

If you find empty shelves in your supermarket, perhaps you might be affected and realise the effects of all this.

JanCl

I think it's the Mail and Telegraph that say 70%. Family farms can be worth c£3 million and still not be eligible for IHT. And anything over that IHT is 20%. Non farmers allowance for a couple would be around £650000, and 40% over that. So I can't see how farmers are hard done by. And when the likes of James Dyson buy up land just to avoid tax, something has to be done.

Perhaps you should investigate what Dyson Farming does to improve ecosystems and sustainability before you start criticising?

Many people buy a small holding and just keep a few horses or pets on it and claim it is agricultural land to avoid tax despite it not being productive. Such loopholes should be closed.

Totally agree Sarnia, trouble is I don’t think Reeves knows what she is doing ! She continually tells us lies sbout her CV so how can we believe that she is an expert in finance

Fully agree Sarnia

vegansrock

Many people buy a small holding and just keep a few horses or pets on it and claim it is agricultural land to avoid tax despite it not being productive. Such loopholes should be closed.

What size of farm would you call a small holding? vegansrock?

I am wondering what will be done to raise inheritance taxes on the real super wealthy as it seems to me that this category has avoided inheritance taxes for generations? I imagine that the super rich have put their farms into trusts and know every trick in the book to avoid inheritance tax.

vegansrock

Many people buy a small holding and just keep a few horses or pets on it and claim it is agricultural land to avoid tax despite it not being productive. Such loopholes should be closed.

There's quite strict rules about whether land is equestrian or agricultural, the two are not necessarily interchangeable but anyone keeping pigs, sheep or cows is entitled to claim the land is being used for agriculture.

Allira

If you find empty shelves in your supermarket, perhaps you might be affected and realise the effects of all this.

We've been down this road in this discussion. As long as the land from the smaller farmers is still being farmed by larger units, the food won't disappear.

I blame the supermarkets - their price wars and forcing farmers to charge less and less (surely we recall the big rows around Tesco's affect on smaller farmers?).

They are still at it

www.fwi.co.uk/business/markets-and-trends/dairy-markets/tesco-to-cut-producers-from-its-sustainable-dairy-group

Badenoch and Farage joined the protest, how sweet

Allira

JanCl

I think it's the Mail and Telegraph that say 70%. Family farms can be worth c£3 million and still not be eligible for IHT. And anything over that IHT is 20%. Non farmers allowance for a couple would be around £650000, and 40% over that. So I can't see how farmers are hard done by. And when the likes of James Dyson buy up land just to avoid tax, something has to be done.

Perhaps you should investigate what Dyson Farming does to improve ecosystems and sustainability before you start criticising?

I'm afraid that being one of the good guys doesn't exempt him from paying IHT.

I'm wondering of he actually makes a profit from all this or whether his wealth from other sources subsidises it.

One third of children in the UK are living in poverty, wrap your heads around that

Hear, hear Jeanathome.

Farmers are fortunate to be ‘asset rich and cash poor’.

Millions of folk in this country are asset poor and cash poor.

It’s time for a redistribution of wealth!

escaped

I don't know if these are farmers or celebrities or members of the public, but alot of solidarity on show in Whitehall today.

I'm afraid protests such as this, of whatever size, never influence a government to change its mind.

It's enjoyable for the participants...

Riots seem to do a better job...

My son in laws parents have a small farm in the South East where an average four bedroom house can be a million pounds. Given a combine costs £500,000 and a tractor £250,000 there will not be many farms who are not subject to IHT when the time comes. In his case the farm has been in the family for four centuries. My son in law works full time away from the farm and helps on the farm evenings and weekends. He does not get an income from it and his parents are far from rich. Anyone who thinks all farmers are like Jeremy Clarkson has no idea what a hard life it is. Inheriting land is full of responsibility, hard work and commitment. No one wants to be the one who loses the farm that so many of his forebears have worked to keep going. Those who say I don’t know what IHT is or I will never be rich like that have no idea of the reality of small family farming.

I fully agree with you Keeping quiet. IMO it's the farm hands who are poor not the farmers. If a farm has to sell some of its assets to pay IT then sobeit. Hopefully it will allow new aspiring farmers to get a foot on the ladder rather than farms being kept for generations by the same family. It would probably be beneficial to gave some new blood in the farming industry.

MaizieD

escaped

I don't know if these are farmers or celebrities or members of the public, but alot of solidarity on show in Whitehall today.

I'm afraid protests such as this, of whatever size, never influence a government to change its mind.

It's enjoyable for the participants...

Riots seem to do a better job...

They do in France, as was discussed earlier!