To ask why you support the farmers, regarding inheritance tax?

Absolutely not the case. I work with farmers and there are plenty of first generation farmers around. Often they start small alongside a day job. There are also a lot of tenant farmers.

In fact lots of young people from farming families don't want to do it as it's such hard work! The average age of a farmer is 60. 40% are past retirement age.

It’s ok the poster who alleged the £20k salary posted their research which proved it was wrong. Which made it really easy for me to do my research 🤪

You can go to the bank for a business loan to become a tennant farmer. Any plans to do that?

But you have a job and you pay IHT. That is the difference. Say you have a job and a house and a mortgage. Your parents die, you pay the IHT and then once everything is settled you may have some money to pay off mortgage, gift to children go on holiday.

farmer dies. Inheritance tax has to be paid. In order to do that, you have to sell part of the farm and then it can no longer be sustainable. Good bye farm.

the two scenarios are not linked. When your parents die you will not pay IHT on the earnings from your job. When your job and what is being taxed is so tied up together - the scenario is very different.

Not if they put it in a Trust.

Most voted for Brexit which has been bad for agriculture. Now they have also lost their subsidies (Tory policy resulting from Agricultural Act following the leaving of the EU). They wanted out as there was too much red tape, paperwork and inspections on things like soil health and nutrients from slurry running into rivers.

Sorry to hyperbole, but I don't understand the argument farmers are born to the job and grow up to be farmers and nothing else. Don't farmer kids have choice in their lives. Do all of them passionately want to become farmers. I bet there are some sad stories out there... One wouldn't think of any other business owner's kid, say I don't know, window producer, having to keep the family biz so therefore shouldn't pay inheritance tax.

No because earnings or salary (which equals profit in a small business) is a number whereas return on capital is a percentage. The amount of earnings will only partly depend on the amount of capital. Capital is affected by things do not directly affect turnover such as where the farm is located (land and building value varies). Earnings (=profit) is affected by efficiently the farm is run, any disasters they have to deal with such as harvest failure or bovine TB etc.

How can they? The barrier to entry is you need to Inherit a multimillion pound farm 😭

isn’t it obvious why farming stays in families?

Most of the farmers kids I know are in private schools .

So do I. Its absolutely terrifying with this net zero

I think being fed is more important.

It feels like a war on our traditions and heritage

It is this level of ignorance that is so shocking. Please do your research first.

Oh give over , plenty of us do hard jobs- and pay inheritance tax.🙄

I support the farmers. I work in a rural school and see how hard they work for shamefully low reward. Most of the children are on free school meals.

You mean those same bankers and financiers who now are investing in farms, or the financial advisers recommending people with money to buy farms as an IHT dodge?

Im sure many paying inheritance tax trapped in dead end jobs would love to farm- they don’t have multi million pound farms handed down to them though.

I support them.This would punish the many for the sins of a few. Our food security is far more important than a few quid in tax, especially given the current global context. Farmers also do the back-breaking, antisocial work that not many of us want to.

Given that the average person is carrying the highest tax burden we have ever had, I would rather the government focused on getting large corporations to pay their fair share of tax and to pay people better.

Anyone who feels otherwise should try growing their own food and see how difficult it is. Perhaps then they will have more respect for the people that feed us and facilitate the prices we currently pay at the supermarket (which would inevitably go up to offset the impact of IHT).

Can you link to the study please? Thanks.

For all those saying how great farming is - are you planning on going into farming? Are you going to buy a farm? Or do you just begrudge anyone who had more than you… because wait until you hear about bankers!!

I agree

Because they're already working every hour that God sends in order to keep afloat.

India and China are only big polluters because they have big populations.
Per head they emit much less pollution than the UK.
You can hardly expect a country with 1.4 billion people to produce the same pollution as a country of 70 million.

They have 20x as many people as us. Do you think it's ok for each UK citizen to produce 20x as much pollution as a Chinese citizen so that we are equal (also disregarding the fact that a lot of the pollution created by china is produced by manufacturing exported consumer goods....)

A farmer, reverend and a stranger enter a bar...

Something like this seems like a fair solution. It should apply to people who inherit the home they live in too though.