Farmergeddon

[Darran]

https://twitter.com/x/status/1858469442155409836

 

[Pentyrchjack]

Definitely another Starmer and Reeves shag up. They don't have the balls to admit they made a mistake and instead keep pedalling the same old shit. Just like the Tories.

FFS Starmer got a landslide election win and he goes after the pensioners, bus users and farmers. Total w@nk.

God what I'd give for a John Smith or Tony Benn.

 

[Neath_Jack]

I think the idea is right, but the implementation is all to cock. Same as the winter fuel payments.

 

[JackSomething]

It would be good to get a more definitive answer on how many farms this will actually apply to. One side says 500, the other side says 70,000.

 

[J_B]

It’s only 70,000 if every possible farm changes hands in the near future and only if they don’t take simple measures to avoid paying inheritance tax. A farm would need to be worth over £3M to attract inheritance tax and then at 20% which is half the normal rate. The BBC claimed that for the last year that figures are available it would have impacted 117 farms.
Clarkson had his arse handed to him by Victoria Derbyshire yesterday by quoting his own words that he bought the farm as an inheritance tax saving measure. James Dyson has bought several farms to avoid paying tax and now he’s throwing his toys out of the pram.

Everyone wants better health, education, social care etc etc but everyone is a special case who shouldn’t be taxed more to pay for these things.

 

[Swanjaxs]

It’s only 70,000 if every possible farm changes hands in the near future and only if they don’t take simple measures to avoid paying inheritance tax. A farm would need to be worth over £3M to attract inheritance tax and then at 20% which is half the normal rate. The BBC claimed that for the last year that figures are available it would have impacted 117 farms.
Clarkson had his arse handed to him by Victoria Derbyshire yesterday by quoting his own words that he bought the farm as an inheritance tax saving measure. James Dyson has bought several farms to avoid paying tax and now he’s throwing his toys out of the pram.

Everyone wants better health, education, social care etc etc but everyone is a special case who shouldn’t be taxed more to pay for these things.

Hehe I saw that! I almost felt sorry for the pompous patronising old fart. (not)

 

[exiledclaseboy]

I don’t think there’s anything wrong with the implementation of this one. They’re asking farmers to pay the same tax on estates as everyone else has for decades. Only farmers are still going to pay it at a lower rate and with 10 years interest free credit, so to speak. No one else gets that.

I was up in that London yesterday and saw some of the protest. I’d wager about half of the marchers were actual farmers and even fewer of them will be impacted by this change. I also got a brief glimpse of Clarkson the cunt from afar. You know, the same Clarkson who’s already admitted that he bought his farm specifically so he could take advantage of the inheritance tax loophole that’s just been closed.

 

[exiledclaseboy]

I see JB had already made the Clarkson point but at least it offered another opportunity for me to call him a cunt.

 

[Pacemaker]

James Dyson has literally thousands of acres of land as a “Farmer” estimated at 36k acres as part of Dyson farms, Clarkson owns 1k acres of Cotswold countryside, the average size farm in the UK is 200 acres but more than half are less than 50 acres.

This whole situation is another set of extremely rich people refusing to pay their way, as has been previously said the majority of farms wont pay a penny and those that do are paying far less than non farmers in the same situation.

 

[Niigata Jack]

Definitely another Starmer and Reeves shag up. They don't have the balls to admit they made a mistake and instead keep pedalling the same old shit. Just like the Tories.

FFS Starmer got a landslide election win and he goes after the pensioners, bus users and farmers. Total w@nk.

God what I'd give for a John Smith or Tony Benn.

Proper politicians they were, we have none in any party these days.

 

[Niigata Jack]

I don’t think there’s anything wrong with the implementation of this one. They’re asking farmers to pay the same tax on estates as everyone else has for decades. Only farmers are still going to pay it at a lower rate and with 10 years interest free credit, so to speak. No one else gets that.

I was up in that London yesterday and saw some of the protest. I’d wager about half of the marchers were actual farmers and even fewer of them will be impacted by this change. I also got a brief glimpse of Clarkson the cunt from afar. You know, the same Clarkson who’s already admitted that he bought his farm specifically so he could take advantage of the inheritance tax loophole that’s just been closed.

When I first heard of it I thought oh here we go again and then I heard the breakdown and its not that bad in fairness its a fair enough deal, IMO.

 

[MajorR]

Lots of good points made in the thread. I read a piece this week which claimed that Dyson now owned 34,000 acres of land worth around £555m which was previously expempt from IHT. Now, under the changes proposed by the government he’ll have to pay £111m (20%) which would still be a saving against standard IHT charged at 40%. Clarkson has previously talked about buying land and farming to avoid IHT.

Labour are taking a lot of flak over this policy, but what is clear is that they’re trying to close the loop holes the very wealthy are using to avoid paying taxes and that, in my opinion is to be commended.
It appears the changes will mean that IHT will be not be due on many farms valued under £3m, however that message is not always getting through. I think Labour are getting the policy right, but they’re messing up with the implementation just as they’ve done with the pensioners winter heating allowance. Labour need to revisit the policy, increase the limit so that less genuine farmers are caught up in the mix and that the focus is on the Dyson’s of the world and the 20 Dukes who own more than 1m acres of land.

Labour have been a bit naive in that they’ve under estimated the backlash from the landowners, vested interests and some farmers and they’ve brought it on themselves.

They were right to remove the WFA from all pensioners, it shouldn’t go to the likes of Dyson, Drakers, There’s May etc etc because they do need it, but there’s going to be a lot of people who need it not getting it. As a country though, we need to look at who gets what because we need to ensure work pays and people aren’t better off loafing in comparison to working.

 

[Glyn1]

This Labour government is useless at explaining its case to the people on anything, even when its policy is a good one. It's constantly letting the Daily Mail etc set the agenda and being defensive.

 

[rockinj]

I’m very much on the side of the farmers here. There is a real danger of land being concreted over and generations of farming destroyed. It is a different business model, everything is wrapped up with the farm.

They have large “assets” but by definition they don’t want to sell them. This will make that far more of a prospect.

It’s got the feel of a lot of unintended consequences. It’s easy for class warriors to go on about rich land owners without any understanding.

I do think something can be done at the margins and there is the problem of IHT avoidance. You could eg only be subject to IHT on the sale of the land.

Those that keep an open mind should think about this a bit more. I appreciate some will simply fall into line that they’re all rich and therefore should pay.

 

[Pacemaker]

They could avoid all inheritance tax if they left it to their children and then survived for 7 years, i wonder why they don’t want to do that?