Queues of tractors from Whitehall to Trafalgar Square in protest of the governments inheritance tax’s to be levied on Uk farms.
MP’s have been recommended pay rises today taking their income from £91,000 to £94,000 plus expenses, whilst they debate the E petition calling for working farms exemption from the proposed inheritance tax announced by Rachel Reeves.
The ONS reports (2023-2024 figs) average cereal farm income has fallen by 73% to £39,400.
Average dairy farm income has fallen 68% to £70,900. Grazing livestock farm income has fallen by 24%.
Basic payments scheme income has fallen by 21% ( thank you Brexit).
The proposed 20% tax is half the IHT rate anyone else liable for IHT would pay. But if a fifth of farmland disappears every generation who will grow the food and keep livestock. Young farmers are in decline and price of farmland has increased significantly making start ups more difficult, adding to the other perils of running a farm including changing weather conditions.
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"Queues of tractors from Whitehall to Trafalgar Square in protest of the governments inheritance tax’s to be levied on Uk farms.
MP’s have been recommended pay rises today taking their income from £91,000 to £94,000 plus expenses, whilst they debate the E petition calling for working farms exemption from the proposed inheritance tax announced by Rachel Reeves.
The ONS reports (2023-2024 figs) average cereal farm income has fallen by 73% to £39,400.
Average dairy farm income has fallen 68% to £70,900. Grazing livestock farm income has fallen by 24%.
Basic payments scheme income has fallen by 21% ( thank you Brexit).
The proposed 20% tax is half the IHT rate anyone else liable for IHT would pay. But if a fifth of farmland disappears every generation who will grow the food and keep livestock. Young farmers are in decline and price of farmland has increased significantly making start ups more difficult, adding to the other perils of running a farm including changing weather conditions.
"
Do you know what happens if the farm sells land to developers or for wind or soler, do they have to then pay tax on the sale.
As you said everyone else will soon be deducted 40% after £650k to £1million depending on situation, and if farms can be left TAX free should all companies be the same. Should farms be that different.
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I have sympathy for the argument that farms are a slightly special case during due to their importance for us as a country.
I have very little sympathy for this particular issue.
I'd much prefer that we made farming more profitable and then tax them fairly on profit and inheritance.
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"Queues of tractors from Whitehall to Trafalgar Square in protest of the governments inheritance tax’s to be levied on Uk farms.
MP’s have been recommended pay rises today taking their income from £91,000 to £94,000 plus expenses, whilst they debate the E petition calling for working farms exemption from the proposed inheritance tax announced by Rachel Reeves.
The ONS reports (2023-2024 figs) average cereal farm income has fallen by 73% to £39,400.
Average dairy farm income has fallen 68% to £70,900. Grazing livestock farm income has fallen by 24%.
Basic payments scheme income has fallen by 21% ( thank you Brexit).
The proposed 20% tax is half the IHT rate anyone else liable for IHT would pay. But if a fifth of farmland disappears every generation who will grow the food and keep livestock. Young farmers are in decline and price of farmland has increased significantly making start ups more difficult, adding to the other perils of running a farm including changing weather conditions.
Do you know what happens if the farm sells land to developers or for wind or soler, do they have to then pay tax on the sale.
As you said everyone else will soon be deducted 40% after £650k to £1million depending on situation, and if farms can be left TAX free should all companies be the same. Should farms be that different.
"
Class Q planning gain on agricultural buildings when sold CGT is charged / payable. |
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"Probably the first time some Labour MPs will ever have seen a tractor.
So it will have been nice for them to be able to experience other cultures."
True, and they only love farmers when they're gonna fuck them over. |
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