Plight of Farmers.

[Penge Eagle]

The farmers have better IHT terms than anyone else.

Ok, I'm glad you clarified it's not just the "uber rich" you have a beef with (excuse the pun), but the working class poorer ones also. So much for the compassion. It all comes down to envy.

There is an obvious reason why farmers had "better terms" and why many countries also don't impose it or offer significant relief. As mentioned many times, farms are asset rich but cash poor. Farm owners going bust is not good for the country's food security and environmental conservation or working people in rural areas losing their jobs.

But who cares about nuance, we will have equality!

 

[NMPalace]

What do you do once you have taxed all the millionaires? Tax those with a couple of hundred thousand?

we already do - PAYE, VAT etc. I've just paid £200k IHT on my brother's estate of just over £800k

 

[georgenorman]

So here we have the answer,say an old folks home has eighty residents should they individually receive the WFA ? I'm sure Truss would just print Tory money endlessly,as she did. Labour know we cannot pick cash from a tree, that is the difference that the country voted for.

None of the eighty residents would have got the WFA - if you lived in a care home you were excluded from the benefit. As for your second point, all parties are guilty of over-spending, over-taxing, over-borrowing and printing money - they are the major cause of inflation.

 

[Penge Eagle]

The farmers have better IHT terms than anyone else.

A McDonald's employee has better tax terms than a doctor. Shouldn't they pay the same?

 

[NMPalace]

Agreed. My point being if a farmer's house, outbuildings and land are worth say £2m and he has £1.5m in liabilities then he's not a millionaire.

The people saying farmers must pay inheritance tax because land over £1m makes them millionaires is actually a false statement.

Agree, liabilities are included in your estate's value so in your example the farmer would never be liable for IHT both before and after the IHT changes come into effect.

Also, the £1m is on top of the £500k most people get and it is per person, so assuming it is a family farm most families will need to have net assets of over £3m before they pay a penny.

For balance, the BBC verify article.

Farming tax row - BBC Verify on which figures are more reliable and why

Government claims have been hotly contested by farmers, and the BBC has been scrutinised for its analysis.

www.bbc.co.uk

David Sturrock from the independent Institute for Fiscal Studies also said that the Treasury’s figures were “credible” and added that including the impact of capping BPR “doesn’t radically change the picture in terms of estates affected”.

 

[Penge Eagle]

Agree, liabilities are included in your estate's value so in your example the farmer would never be liable for IHT both before and after the IHT changes come into effect.

Also, the £1m is on top of the £500k most people get and it is per person, so assuming it is a family farm most families will need to have net assets of over £3m before they pay a penny.

For balance, the BBC verify article.

Farming tax row - BBC Verify on which figures are more reliable and why

Government claims have been hotly contested by farmers, and the BBC has been scrutinised for its analysis.

www.bbc.co.uk

David Sturrock from the independent Institute for Fiscal Studies also said that the Treasury’s figures were “credible” and added that including the impact of capping BPR “doesn’t radically change the picture in terms of estates affected”.

You are correct in that IHT calculation. I was making the point that many people don't count liabilities with a farm valuation or even annual income. They're not all "rich" and deserve to be taxed because a farm valuation is high.

 

[Jacey]

People had had enough of the train strikes and Labour sorted it out,that's what we voted for.I must say the tories are rotten losers and are undemocratic,no wonder they are such a small party in parliament,so few seats.

But over 2million people are now calling for an immediate General Election because of your mate Starmers' many broken manifesto pledges as he and the equally abhorrent Reeves begin their journey to destroy and bring Britain to it's knees.

 

[cryrst]

we already do - PAYE, VAT etc. I've just paid £200k IHT on my brother's estate of just over £800k

At least you can sit back and know you’ve purchased a hotel room, Nikes iPhone 15s air time warm meals and a free solicitor for a few immigrants.
Makes you feel all warm and fuzzy inside I bet 😂

 

[beak]

A McDonald's employee has better tax terms than a doctor. Shouldn't they pay the same?

Same percentage on the firs t£50K sounds fair.

 

[beak]

But over 2million people are now calling for an immediate General Election because of your mate Starmers' many broken manifesto pledges as he and the equally abhorrent Reeves begin their journey to destroy and bring Britain to it's knees.

64 million are NOT calling for a new g.e.

 

[Penge Eagle]

Same percentage on the firs t£50K sounds fair.

In my example I would say the McDonald's worker earns under £50k and the doctor over £50k which you know full well. Let me try again...

Someone paying 20% income tax has "better terms" than somebody paying 40%. Shouldn't it be the same out of "fairness"?

 

[beak]

In my example I would say the McDonald's worker earns under £50k and the doctor over £50k which you know full well. Let me try again...

Someone paying 20% income tax has "better terms" than somebody paying 40%. Shouldn't it be the same out of "fairness"?

Well, i would suggest that we all need a certain amount of money to pay for basic goods and services and anyone paying the 40%doesn't have to pay it,it is only too easy to legally avoid paying.My son was paying 40% on some of his earnings and I told him how to legally avoid paying.

 

[cryrst]

64 million are NOT calling for a new g.e.

Tbh at least half of those cant but from the 30 odd million left nearly 10% do.
About the same % who think removing wfa was ok and got the green light but never mind !

 

[Spiderman]

NO, my dad always wanted to pay a million pound in tax, you have to be on very big money for that. Perhaps Toddlers through no fault of their own are starving and pushed from pillar to council pillar just for a roof over their heads it is time for all fair minded people to pay a whack out of their millions.Not dodge their responsibilities.

Maybe the toddlers could be put up in 4* hotels! Oh wait…

 

[Spiderman]

So here we have the answer,say an old folks home has eighty residents should they individually receive the WFA ? I'm sure Truss would just print Tory money endlessly,as she did. Labour know we cannot pick cash from a tree, that is the difference that the country voted for.

Have you seen the cost of living in an old folks home? WFA wouldn’t scratch the surface

 

[Spiderman]

People had had enough of the train strikes and Labour sorted it out,that's what we voted for.I must say the tories are rotten losers and are undemocratic,no wonder they are such a small party in parliament,so few seats.

Do you think remainers are rotten losers? I am not sure public necessarily voted for a “cave in” to train drivers demands. I voted Tory because my local MP was brilliant but Tories deserved to lose unfortunately it had to be to this shower of shite we are now lumbered with. Imagine if a Tory Chancellor had lied on their CV!

 

[georgenorman]

Have you seen the cost of living in an old folks home? WFA wouldn’t scratch the surface

People in old folks homes were never paid the Winter Fuel Allowance in the first place.

 

[georgenorman]

Well, i would suggest that we all need a certain amount of money to pay for basic goods and services and anyone paying the 40%doesn't have to pay it,it is only too easy to legally avoid paying.My son was paying 40% on some of his earnings and I told him how to legally avoid paying.

Do tell.

 

[Spiderman]

People in old folks homes were never paid the Winter Fuel Allowance in the first place.

Apologies I was not aware

 

[georgenorman]

Apologies I was not aware

I expect Rachel from accounts will find something else to take off them instead - perhaps some sort of mileage charge on zimmer frames?