This is inexplicable to me. Am I missing something in the justification of this proposal to levy inheritance tax on farmers?
The tax is on âFarmLandsâ. Owned by Hereditary Feudal Baroncy. Some of which date back from 1066.
âNot necessarily the Farmers. Who Lease, Rent or Tithedâ. To Live & Farm produce.
As during the Civil War 1642>1651. The Farmers are protesting on Behalf.
Conscious that âThe Land ownersâ Could or Would restructure the Fiscalsâ of their tenure.
All one of the largest targets of âReformâ .
Interesting enough. That "The House of Lords [ONA. Upper House/Senate] coincided the motion to pass in Parliament.
Historical Still Rivers run Deep.
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And donât forget all the very rich e.g. Jeremy Clarkson and Dyson who admitted their reason for buying up farmland was because there was no inheritance tax on it.
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We have relations who are farmers, they live in a 1.5 million pound house, they buy land to sell to developers, and theyâve made their children ( both in their twenties) partners in the business thus avoiding inheritance taxesâŠ
Farmers are the backbone of any country, it is not just about providing food; itâs a way of life, a heritage, and a critical part of the economy.
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No inheritance tax on anything in Australia yet.
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If a farm is being farmed by the owner (without leasing or sharecropping) isnât he also otherwise taxed - say for the sale of the crop or livestock?
Why would it be unacceptable for a landowner to be exempt from the inheritance tax if they were actively farming the land, even if wealthy?
If someone leases a property to grow crops or raise livestock, do they also have tax advantages? (They should)
Is the tax designed to loosen generational ownership or raise revenues or both?
If no one pays inheritance tax, wouldnât that solve the example you provided, Primus?
This is what drove my curiosity on this. I would think that any nation would be well-served to keep their farmers incentivized to - farm.
they maybe want to starve the population then less finances required
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In all walks, the Hoi polloi are being financially clobbered in pursuance of making the fat cats cough up 
Fiscal collateral damage
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yes there are more wealthy appearing on the hozizons than is fair
fine if they share but they never will
presumably those who didnât have the foresight to do this type of arrangement in advance of the âsurpriseâ budget announcement, will be caught in the net. There will likely be the 7 year rule or such applied.
The Chancellor will not have talks with farmers, why not ?
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Some very wealthy people - not ârealâ farmers - are using the exemption as an IHT loophole, but out the baby goes with the bathwater if the new legislation is used as a blunt instrument to cosh truly real farmers. Separate the two⊠Wake up before tsrhtf farmers will get militant and bring the country/government down.
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Yes, accountability, we seem to be entering stand up and be counted.
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Labour will face consequence.
I The NFU chief suggested there is division within the cabinet over the tractor tax, claiming that Rachel Reeves has entirely ârefused to engageâ with farmers on the policy.
Asked by The Independent whether he believes there is a disconnect between the Department for Environment, Food and Rural Affairs (Defra) and the Treasury, he said: âThe very fact that weâre even arguing about the figures suggests that the foundations of this policy are very weak.
âWe know that Defra figures show something very different to Treasury figures. Treasury are obviously working off historic claims.â
After meeting with Mr Reed on Monday night, he said it was clear that Defra was ânot consultedâ about the policy.
âThereâs probably some very interesting conversations going on behind closed doors that weâre not privy toâ, he added.
Treasury data shows that around three-quarters of farmers will pay nothing in inheritance tax as a result of the controversial changes.
But farmers have challenged the figures, pointing instead to data from Defra, which suggests 66 per cent of farm businesses are worth more than the ÂŁ1m threshold at which inheritance tax will now need to be paid.
Not for a few years.
We can only wait and see what next year brings.
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Thank you, C. This helps answer a lot of the questions I have, especially the different valuations between the farm and farm and farm business.
With the cost of livestock, farming equipment (presuming it is owned outright), and farm shops (building and inventory) ÂŁ1m seems like a very low threshold.
Itâs not 1m, husband and wife have 1.5 m each before inheritance tax, is paid, so a combined sum of 3m before tax is dueâŠ
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Arenât most of the assets tied up though? What is the income on these farms? Whatâs the profit/land value ratio?