The Farmers Fight

GrannyGravy13

Wyllow3 Jeremy pointed out that the richest farmers will put their farms in trust which means no IT liability.

The farming IT burden will fall on small to medium farms, the just about managing land /asset rich but cash poor.

Again the ones in the middle.

This what he Clarkson said in full to the Times:

"Clarkson has previously admitted that he bought his farm to reduce his inheritance tax bill.

Speaking to The Times, he said: “Rather than just have money in the bank, and get a statement with numbers written on it that gives no one any pleasure at all, you could derive a great deal of pleasure and pass it on to your children”.

He added: “Land is a better investment than any bank can offer. The Government doesn’t get any of my money when I die. And the price of the food that I grow can only go up.”

So he is totally lying now he says it had nothing to do with IT

www.thelondoneconomic.com/news/clarkson-fumes-as-hes-reminded-of-why-he-bought-his-farm-386022/

JudyBloom

All Inheritance Tax should be abolished!.

Why?

Pay for the NHS”. Rubbish.
Besides the NHS is a failed organisation and throwing money at it won’t fix the problems.
I stand with the farmers.

keepingquiet

I find this whole thing a bit puzzling to be honest.

Why is holding up traffic, causing a public nuisance, dumping cow-shit in Downing Street something to applaud?

We seem to have turned the tables here.

Striking, when doctors do it it's bad- but when farmers threaten to do it that's good?

I don't know much about inheritance tax because I won't ever have to pay it, no one I know has paid it, and my children won't have to pay it either.

Isn't this tax only paid when someone actually dies? It isn't taken from them at source on a regular basis as was the income tax I paid all my fifty years of working life, or is it? Would someone explain when these farmers will have to pay this tax?

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.

I heard a farmer recently comparing themselves to the miners, which as someone whose family had been mining for over six generations, was quite frankly insulting. I think if you added up the total wealth my family made from mining for hundreds of years it wouldn't come near £3 million.

Of course we need the food, of course farmers work hard and deserve recognition- but some can't see the problems they face are no more than a little of a consequence of Brexit?

Project Fear has come home to roost and those who said we just had to face a little hardship are now having to deal with that 'hardship'.

Of course not all farmers voted for Brexit- they weren't listened to and now they are havng to deal with the reality like the rest of us.

Agree with you wholeheartedly on this one keepingquiet. I was married to a farmer for many years ~(small family farm, we never had a holiday) - almost all farmers plead poverty. They always find ways around paying tax and get many tax concessions. As you say, most of us can only dream of having the wealth of even small family farmers!

Wyllow3

This what he Clarkson said in full to the Times:

"Clarkson has previously admitted that he bought his farm to reduce his inheritance tax bill.

Speaking to The Times, he said: “Rather than just have money in the bank, and get a statement with numbers written on it that gives no one any pleasure at all, you could derive a great deal of pleasure and pass it on to your children”.

He added: “Land is a better investment than any bank can offer. The Government doesn’t get any of my money when I die. And the price of the food that I grow can only go up.”

So he is totally lying now he says it had nothing to do with IT

www.thelondoneconomic.com/news/clarkson-fumes-as-hes-reminded-of-why-he-bought-his-farm-386022/

JC bought his farm so he could have his own shoot.
He knew there would be an outcry if he admitted this so his excuse was IHT.
His arrogance has lessened since he started to farm and understood how hard it can be for some farmers.

Clarkson was just interviewed by Victoria Derbyshire on BBC News. He said 'I bought a farm so I could shoot'.

chattykathy

vegansrock

Maybe they should drive in their Range Rovers or their daughters’ horse boxes. Jeremy Clarkson and the like openly admitted to buying farmland in order to avoid IHT, so I’m putting my violins away for farmers. They should pay tax like everyone else. They can avoid IHT with forward planning like other wealthy landowners.

Totally agree. They're already a special case being given a £3m allowance, paying at 20% and 10 years to pay it.
The same arguments can be made for many businesses but the farmers want to be treated differently. Jeremy Clarkson and his ilk make me sick.
As for blockading the streets, the police should treat them the same as the Just Stop Oil protestors. The double standards on here is staggering. I suspect it's mostly an opportunity to criticise the Labour government.

Quelle horreur! Surely not.

Besides the NHS is a failed organisation

FriedGreenTomatoes, don’t you benefit from the NHS? Do you not use it?

For example … The Duke of Westminster doesn't 'own' the land. It's in a Trust which was put together decades ago to reduce the amount of IHT and other taxes which would be owed.

They pay 6% of assets every 10 years rather than a 1 off hit of 40%. Plus the way they're set up allows them to get business and agricultural allowances to offset against the value of the estate....therefore further reducing tax on the Trust’s assets.

The truly wealthy aren't going to be affected by IHT changes!
It’s always the little people who get hammered.

If someone came along and offered Clarkson the right price (a property developer maybe?) he would sell his hobby farm in a heartbeat and his "dedication" to all things rural would go down the drain.

Let’s all take notice of ‘good old Jeremy’, the man who said this about striking public sector workers.

"I'd have them all shot. I would take them outside and execute them in front of their families."

No thanks!

Apparently its not that simple for the 7 years. Under 'gifts with reservation' rules, if you continue to benefit from the gift, you're taxed on death as if you never gave it away unless you had no further benefit from the gift. Difficult to prove if it's your home and source of income surely?

Where’s GSM when we need her? 👋

Apparently it’s not that simple for the 7 years

Good!

Wyllow3

This what he Clarkson said in full to the Times:

"Clarkson has previously admitted that he bought his farm to reduce his inheritance tax bill.

Speaking to The Times, he said: “Rather than just have money in the bank, and get a statement with numbers written on it that gives no one any pleasure at all, you could derive a great deal of pleasure and pass it on to your children”.

He added: “Land is a better investment than any bank can offer. The Government doesn’t get any of my money when I die. And the price of the food that I grow can only go up.”

So he is totally lying now he says it had nothing to do with IT

www.thelondoneconomic.com/news/clarkson-fumes-as-hes-reminded-of-why-he-bought-his-farm-386022/

Exactly, the fact he also wanted to 'shoot' is probably right too- but to say now that he lied at the time because he thought he would be criticised for 'shooting' is just utter nonsense!

I find the 'I wanted to shoot but didn't dare say it' story utterly unbelievable, coming as it does from Clarkson who never seems to have been worried about shooting his mouth off...

Well yes!

We have friends and family who 'shoot' - they belong to local shoots, and they don't need to buy land for this. In fact, although I personally would not like to shoot' - they do pay very high fees to the farmland owners- so support them by this kind of diversification.

LizzieDrip

Let’s all take notice of ‘good old Jeremy’, the man who said this about striking public sector workers.

"I'd have them all shot. I would take them outside and execute them in front of their families."

No thanks!

Now that is taking 'shooting' to a whole new, sick, level!

This fuss is all being made by the super rich - aristocrats and landed gentry own 30% of the land in the UK. The average farmer will not pay IHT.

JudyBloom

All Inheritance Tax should be abolished!.

Totally agree 👏👏👏

Sago

Wyllow3

This what he Clarkson said in full to the Times:

"Clarkson has previously admitted that he bought his farm to reduce his inheritance tax bill.

Speaking to The Times, he said: “Rather than just have money in the bank, and get a statement with numbers written on it that gives no one any pleasure at all, you could derive a great deal of pleasure and pass it on to your children”.

He added: “Land is a better investment than any bank can offer. The Government doesn’t get any of my money when I die. And the price of the food that I grow can only go up.”

So he is totally lying now he says it had nothing to do with IT

www.thelondoneconomic.com/news/clarkson-fumes-as-hes-reminded-of-why-he-bought-his-farm-386022/

JC bought his farm so he could have his own shoot.
He knew there would be an outcry if he admitted this so his excuse was IHT.
His arrogance has lessened since he started to farm and understood how hard it can be for some farmers.

You are correct sago 👍

GrannyGravy13

Sago

Wyllow3

This what he Clarkson said in full to the Times:

"Clarkson has previously admitted that he bought his farm to reduce his inheritance tax bill.

Speaking to The Times, he said: “Rather than just have money in the bank, and get a statement with numbers written on it that gives no one any pleasure at all, you could derive a great deal of pleasure and pass it on to your children”.

He added: “Land is a better investment than any bank can offer. The Government doesn’t get any of my money when I die. And the price of the food that I grow can only go up.”

So he is totally lying now he says it had nothing to do with IT

www.thelondoneconomic.com/news/clarkson-fumes-as-hes-reminded-of-why-he-bought-his-farm-386022/

JC bought his farm so he could have his own shoot.
He knew there would be an outcry if he admitted this so his excuse was IHT.
His arrogance has lessened since he started to farm and understood how hard it can be for some farmers.

You are correct sago 👍

Sorry? What makes sago correct when Clarkson is lying?
14 years ago he said it was a tax dodge.

MaizieD

GrannyGravy13

Sago

Wyllow3

This what he Clarkson said in full to the Times:

"Clarkson has previously admitted that he bought his farm to reduce his inheritance tax bill.

Speaking to The Times, he said: “Rather than just have money in the bank, and get a statement with numbers written on it that gives no one any pleasure at all, you could derive a great deal of pleasure and pass it on to your children”.

He added: “Land is a better investment than any bank can offer. The Government doesn’t get any of my money when I die. And the price of the food that I grow can only go up.”

So he is totally lying now he says it had nothing to do with IT

www.thelondoneconomic.com/news/clarkson-fumes-as-hes-reminded-of-why-he-bought-his-farm-386022/

JC bought his farm so he could have his own shoot.
He knew there would be an outcry if he admitted this so his excuse was IHT.
His arrogance has lessened since he started to farm and understood how hard it can be for some farmers.

You are correct sago 👍

Sorry? What makes sago correct when Clarkson is lying?
14 years ago he said it was a tax dodge.

Jeremy Clarkson has said repeatedly since then that he purchased the land in order for him to be able to shoot.

Saying it was to avoid IT was more socially acceptable, so that is what he did.

Honestly, you don't believe THAT do you?

He could have joined a local shoot, paid his high fees and supported the farmer landowner. A very useful added income for some farmers.

Big mouth Clarkson, and 'socially acceptable. Ah, lol, hilarious.