Hrolf The Ganger
Member
- Location
- a sofa somewhere in Kent.
- Country
England
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Plight of Farmers.
- Topic starter Jacey
- Start date
Now Elon Musk weighs in on Starmer, the Farmer Harmer!!
www.express.co.uk
Elon Musk slams Keir Starmer saying UK has gone 'full Stalin' over farmer tax
Elon Musk has become a vocal critic of Prime Minister Sir Keir Starmer and has now hit out at his inheritance tax raid on farmers.
www.express.co.uk
cryrst
Member
- Location
- The garden of England
- Country
Ukraine
Yup world class.
That was maggie nice one !
Most small farmers work very hard and make little profit. Most farmers are small farmers. Modal farm value is £1/2m. Average farm value is just over £2m. But that is driven by a relatively small number of mega land holdings. This is particularly the case in Scotland where land reform is needed urgently but the last administration badly chickened out. If you want more agricultural land you could always remove incentives that keep it dedicated to hunting, shooting and fishing.
If you inherit a farm from two parents (they don’t have to die at the same time), each has the £1m allowance. Add to that the personal allowances and you have a further £1m.
If you are lucky enough to inherit a farm worth more than £3m (less than 20% of English farms are), then for each extra million you pay £20k per annum for ten years. If you don’t make enough to pay that you could stretch the time by taking a mortgage, like non-farmers do to get on the housing ladder.
The farming lobby, driven by the mega rich, has achieved exceptional dispensations. The result is the demand for wealthy people to buy farming land, despite probably doing little actual farming. I was unfortunate enough to be in a pub with the Welsh chapter of the Country Land and Business Association. Literally the main topic of conversation, just about to a man or woman, was where they moored their yachts. Scotland was the preference.
Ever wondered why the average age of uk farmers is 59? Not because young people aren’t keen but because land rarely comes onto the market and is snapped up for tax avoidance. As openly admitted by Jeremy Clarkson.
Loud voices does not make a group in the right. Just influential.
If you inherit a farm from two parents (they don’t have to die at the same time), each has the £1m allowance. Add to that the personal allowances and you have a further £1m.
If you are lucky enough to inherit a farm worth more than £3m (less than 20% of English farms are), then for each extra million you pay £20k per annum for ten years. If you don’t make enough to pay that you could stretch the time by taking a mortgage, like non-farmers do to get on the housing ladder.
The farming lobby, driven by the mega rich, has achieved exceptional dispensations. The result is the demand for wealthy people to buy farming land, despite probably doing little actual farming. I was unfortunate enough to be in a pub with the Welsh chapter of the Country Land and Business Association. Literally the main topic of conversation, just about to a man or woman, was where they moored their yachts. Scotland was the preference.
Ever wondered why the average age of uk farmers is 59? Not because young people aren’t keen but because land rarely comes onto the market and is snapped up for tax avoidance. As openly admitted by Jeremy Clarkson.
Loud voices does not make a group in the right. Just influential.
Tim Gypsy Hill '64
Member
- Location
- Stoke sub normal
- Country
-
England
Ok. Excellent. Can you show me some detatched houses with out buildings and four or five acres of land attached for £1/2m please. I will move in immediately. If there is the additional machinery to farm the land, that would be handy too, as I could likely sell that stuff for a few hundred grand too.
Typical townie...
Silly abuse tells me i'm winning the argument.
georgenorman
Member
- Country
-
England
With the farming protest taking place today which will involve predominately white English people who probably don't vote for the far-left Labour and Liberal parties and left Tory party, we can expect the courts to be clearing the decks so that they can fill our prisons with some more political prisoners. Meanwhile, the apologists for paedophilia, terrorism, anti-semitism and undemocratic government will continue to tell us how just, proper and progressive it all is.
It is very hard to find data on farm values. So let’s say you are correct and that figure is out of date. We have the current average from Government statistics. The average is just over £2m, well below the £3m figure. Look up farms for sale online. I just found 1,923 for up to £1m, £2,757 for up to £3m (834 extra) and 296 for over £3m which is less than 10%. Happy now?
georgenorman
Member
- Country
-
England
What needs to be stopped is excessive taxation and profligate government spending (think good ol' Keir big mouth) this is a black hole that needs to be closed.
So we need to stop or cut back on the N.H.S. If we do i will go to Westminster in a new shiny tractor and spit out my dummy.
georgenorman
Member
- Country
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England
Certainly we need to cut back extensively on the NHS.
Rudi Hedman
Member
- Location
- Caterham
- Country
-
England
The NFU says otherwise, and anyway, if it doesn’t affect many and raise barely any tax revenue, what’s the point? Ideological reasons.
that's £1m to £2m not £500k BTW.
As stated everyone get's up to £500k for the threshold and the farmer allowance starts at £1m per person so a family farm will need to be worth over £3m before they start paying a penny. And when they do start paying it's at a reduced rate over 10 years.
As i've just had to pay £200k IHT in full within 6 months of death on my brother's estate valued at little over £800k following his sudden death i am struggling to see what the issue is.
the NFU recommended their members voted for brexit so they have zero credibility IMHO.
Rudi Hedman
Member
- Location
- Caterham
- Country
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England
It’s obvious and you know it. They have to produce food for the population to live off the land owned and the profit margins are very tiny. You don’t. If they could they’d just increase prices, but those selling to supermarkets aren’t able to.
Rudi Hedman
Member
- Location
- Caterham
- Country
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England
Ideologically driven and punitive, just like the WFA, which Scotland have reversed, today. Big businesses are starting to come out and say the employers NI will cost jobs and cause inflation with new premises being cancelled. All good, all fully costed. The adults are in charge now.
Fancy the NFU saying otherwise, almost as if it is a Union.
You can't argue with facts, but the super-rich will try and some mugs will believe them.
It doesn't affect many. But those is does affect will have to pay a lot. The whole thing has become a tax avoidance stratagem at the top end.
Those majority of farmers that are not affected are being used as foot soldiers in this, they probably do so out of anger over issues such as the BPS and the mad trade deals struck by Truss.
For context, the last Treasury data available (2021/22) demonstrates that 73% of APR claims - i.e. people asking not to pay IHT on agriculture - came from estates with qualifying assets worth less than £1mn. Those assets include everything; buildings, land and equipment.
And by the way, considering demand for agricultural land and how only the children of farmers can possibly know how to farm. Agriculture is one of the fastest growing subjects at UK universities. There are more than 20,000 people studying it and related subjects. No land means not much to aspire towards. Let's face it, farming really needs to change for multiple reasons. It won't if it remains a relatively closed shop
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They
would say that wouldn't they. Instead of telling the truth and say we are a bunch of morons who cannot run a business properly.Profit warning inbound.
He was talking about big businesses not the present Government! Interesting how those running the businesses don’t seem to know what they are talking about.