Do you need your parent/s to die before April 2026? *MNHQ adding content warning mentions suicide*

[Spatulation]

Absolutely reeling that we're losing the farm that my grandfather bought, my father expanded and my son hoped to takeover.

The budget today means that we'll owe £1000000 in tax and we won't be able to get a mortgage as that's 5 times our annual income and over 35000 times bigger than last year's profit.

We own soil. That's it.

Agriculture has the highest suicide rate in any profession - sadly I can see it hitting an all time high in the next 18 months. My father (83) is already talking about it.

Honestly listen to lbc from today and james was saying that's not right he was actually saying the opposite

Whatever people's political orientation, a think more sympathy is needed for OP and her elderly father who has clearly been affected by yesterday's announcement. I hope you and your father are OK @Spatulation

@Noisylass how does he know?

oh. My. God

Leaving this thread now as I'm becoming too depressed by the lack of education

They fact checked and are talking about it now gone through figures etc honestly give it a listen even a conservative party member now speaking about it it's not the doom and gloom seem are saying

It really won't be the death of british farming. If anything it might open up the market to those interested in farming. Currently unless your mummy or daddy were a farmer it is pretty hard to get into with reduction in tenant farms. Maybe the fresh blood will make it more commercially viable.

I think you are misunderstanding a lot of the sentiment on this thread. It's not just about it affecting farmers directly, it's about it affecting our food supply chain, national food security and the ownership of the productive land in this country - so actually, it might even affect you.

I sympathise OP. It’s a grim budget for family farmers. The implications which you mention in your OP are too terrible to contemplate.

Perhaps @Ritasueandbobtoo9 thinks farming activity, towing etc should be undertaken in a Ford Fiesta.

Why the hell wouldn't an essential vehicle be put through the books?

No it's not lbc have fact checked on james o Brian show listen to it again from 10 he just said 85 percent of farms won't be impacted

It really won't be the death of british farming. If anything it might open up the market to those interested in farming. Currently unless your mummy or daddy were a farmer it is pretty hard to get into with reduction in tenant farms. Maybe the fresh blood will make it more commercially viable.

Who is going to afford a several million quid business investment to turn a profit of circa £30k pa? Good luck paying that business loan off!

It is astonishingly naive to think that is who will be buying the land.

Whats the point in having a tax aimed at the rich, which the rich avoid by using expensive advisors so it hits the middle class or farmers unable to avoid it because they arent rich enough?

What a stupid system. A policy which fails to hit those it targets and then instead hits others instead.

No wonder the country is fucked.

@crumblingschools It depends how the farm is set up and if it’s been gifted to next generation already. 1 in 4 seems unlikely due to house prices in the SE anyway. Welsh hill farms would be under the £1m probably. Farms have got bigger because of the need for economies of scale. The small farm of 200 acres is not viable in many areas. Even 300 will be a struggle. 300 acres with two dwellings is over £1 million where I live! Easily. So farmers must now look at trusts and giving farms away and plan very carefully.

But if the land has to be sold off to pay the IHT, this doesn't mean there will be a massive store of land for tenant farmers to instantly occupy and work! Unless some very strict legislation is put in place.

Who is going to be buying the land?

Presumably because huge conglomerates are not affected by an individual person passing away, and so they don't have to deal with inheritance tax.

Really not. Because if what you have is land and a business that makes less than 5% of that in a year, all you have is £1,000,000 debt.

I find it quite odd that agricultural land that can only make a profit of 30k a year is worth 6 million - no one would get a bank loan on those numbers

Is it the housing on the site rather than the farm itself ?

Housebuilders will buy the land… clearly all part of labours plan.

I find this attitude DUMB.

What will happen is we will lose all the skills these families have and that will effect our food supplies and costs. These are ESSENTIAL to us as a country and CAN NOT be replaced. There is no one who is going to be able to buy that land up and use it for farming because we don't have enough people with those skills. There is already a massive labour and skills shortage in the industry.

Yes the OP may have a property worth a lot BUT that is locked up in a way they can't actually access and their day to day life will not reflect that at all. And if there are multiple people who have to sell up the farm will not be worth that. All those people moving to the country do not want that much land.

Land needs maintaining.

Im mindful of what has happened historically when skilled farmers have been driven off land in terms of what has happened to society a whole.

Its not pretty.

People who want to get into that type of business. Just like anyone else who buys a business. Part of the problem is the entitlement to own the land because daddy did. There aren't many other business where the main barrier to entry is who your parents are.

You need to watch Clarkson's Farm.

Its very educational.

(Yes even with Jeremy Clarkson).

I know very little about farming but can see this is an horrific situation for @Spatulation her father and family. I literally cannot understand the unpleasant responses on here from people who are just nasty, money obsessed and would want to sell. Don't you see there is more to this situation than a lust for money? Is there nothing you care about? Would you sell your child for £1m and be pleased about it?

This is about land and heritage and continuing a life long family business.
How can people not see that? @Spatulation is saying there is no cash lying around just a farm that has been worked on hard, probably physically hard, by her father, her son and her grandfather. That's what they have. The land they have put their life - THEIR LIFE- into. These aren't people who care about the land and the farm - not getting money for the farm.They wouldn't want to sell it but maybe forced to.

People who are part of generations like this have for example - blood lines of livestock that have been bred and honed by their fathers and father before them. It's not just sentimental value - it's a business and a culture. I remember being very struck by some of the farmers talking about loss of whole herds and blood lines created by their forefathers during foot and mouth.

We need farms. The world need farms. What's going to happen here? The farm land will be sold to the highest bidder. The highest bidder will be a developer and it will be full of shitty little boxes all on top of each other with tiny rooms and tiny gardens that no person would really want to live in.

@Spatulation - don't panic just yet. Judged by the way they are going now, there is very little chance Labour will win the next election, so it's more a case of 'do you need your parents to live until the next election/Tory budget' rather than need them to die before april.

I do think the farm one is an odd one though

It isn’t essential if it never actually used for farming activities, only the school run, from the cul de sac by the farmers son’s wife along a flat safe road to the local school though is it???

There have been surveys of children and whether they have ever visited the country or can identity certain vegetables.

They are always eye opening and are, of course, reflective of their parents too.

The food chain is a mystery to huge numbers of people.