The rise of Communism

[richyrich]

Farmers "betrayed" by Labour's £1m inheritance tax relief limit - BBC News

WWW.BBC.CO.UK

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Changes announced to inheritance tax rules could see the end of small family farms, warns the NFU.

 

Edited October 31 by richyrich
Capital letter

[dan blocker]

Does that silly cow from the Nature Friendly Farming Network England 😳 not realise that if small acreage is sold of to pay 

death duties (that’s what it used to be called) the bigger farms will snap it up and just get bigger and bigger? They’re the ones who can afford the fancy financial adviser, accountants and lawyers! 

[GarethM]

It's a bit like say NS Sherlock.

 

They just think farms are there to just make the countryside nice for their Sunday walk.

 

I had this discussion once or twice about a fence, oooh isn't this nice, yeah it cost me 3 grand. Coughing, how much yeah and that was the cheapest quote.

[Conor Wright]

Down the pub one night the talk was what would you do if you won the lottery.

An ould buck at the bar chimed in and said "I'd keep farming til it was all gone"

 

 

[Stere]

IHT is one reason why owned family  farms exist as it was  factor in the break up the big estates after WW1

 

 

Quote

Thompson suggested, this was nothing short of a revolution in landownership:
such an enormous and rapid transfer of land had not been seen since the confiscations and
sequestrations of the Civil War, such a permanent transfer not since the dissolution of the
monasteries in the sixteenth century. Indeed, a transfer on this scale and in such a short space
of time had probably not been equalled since the Norman Conquest.

These changes, he suggested, also heralded a social revolution in landownership because much
of the land which came on to the market went not to other owners but to farmers who had
previously rented their land: ‘precisely one-quarter of England and Wales … passed from being
tenanted land into the possession of its farmers in the thirteen years after 1914’. 2 Thus, in so
many words, the immediate aftermath of the First World War had witnessed a massive transfer
of land from the old landed elite to the nation’s tenant farmers.

 

 

I think maybe in past all the  clever loop holes for the very wealthly weren't tolerated as they are now though.....

[GarethM]

Swapping landownership from lord of the manor to the tennant farmers barely changed the makeup in a financial sense.

 

Realistically the lord charged enough rent to make it profitable, the tennant equally enough to make it profitable without the upfront cost of buying and the debt.

 

Farming is probably great in the flatlands, you try that on the hills of Cheshire and Derbyshire and I guarantee you'll be crying in your cornflakes of destitution.

 

You'll always need a second or third job even with the subsidies!.

[Muddy42]

Another problem is that a lot of upland values have been inflated by non-farming activities - forestry, carbon, renewables, many of these activities with other tax breaks.  This will push farmers into scope of IHT that otherwise wouldn't because upland farming is generally pretty unprofitable.