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.

Lots of small farms are highly dependent on subsidises to produce anything at all and provide a farm with a living. There are worse things that could happen in farming than moving away from the current economic model.

He doesn’t want the ‘wealth’. His family don’t want the ‘wealth’. If they wanted the money they could have sold the farm at any point and had a very comfy life. Instead they chose to work long hours for short money because they take pride in what they do.

Farming families want to farm.

Loads of farms are surviving by being paid not to grow stuff.

I live in a rural community and some of the farmers are the nicest people I have met, however, farming is definitely being challenged and for good reason, including environmental, land farmers (not using animals) have my absolute support, but cattle & livestock industry is on its way out in my opinion. Sorry.

But your dad does not deserve to feel as bad as he does, and I am sorry he is so upset, I would echo other posters views that he could take some proper advice about this.

I agree. But God forbid people would pay above the cost of production for their food. The whole food system needs a rethink.

Do you realise your thread title sounds like you want him to die by April?

This will have a devastating impact on food security for everyone. Farming families are custodians of the land. There's no replacement for being born on a farm and having maybe 30 years of learning the land, and working alongside family, before ultimately taking over the reins. "Just buy a smaller farm" - Jesus wept.

What are the logistical details? Will farm owners eventually have the opportunity to make use of the 7 year rule same as any other property/cash? What about those families who are unlucky enough to lose older generations within the next 7 years, who never knew that this was something they would have to plan for - are they literally just thrown to the wolves???

I read a lot of information on farmers having no money yet every one I know (which are quite a few) all have brand new 4x4 trucks, which I find a real contradiction, strikes me they aren't doing too badly (me=2008 car on last legs)

But that wouldn't be your concern because you'll be able to afford the expensive imports with 5 million sitting in your bank anyway

I know. It's a crap title. I'm feeling really crap. I feel as if the government are wanting to wipe out a generation of farmers and he feels the need to die before April 2025.

People are so annoying. Unfortunately, farming is one of the top professions for suicide.

Most people here do not have children who desire to become farmers. And if given the opportunity, it's not like many would jump to it... Or stick with it.

But everyone needs to eat. I'd rather the issue of food security and access to farming (as a career) was discussed outside of the inheritance conversation. Many people who came to snipe at the OP probably wouldn't even bother involve themselves in that discussion. People are just here to play small violins and then sleep tight on houses with £2 pumpkins and unreasonably priced milk.

This sounds promising. It would be good to hear more about it.

Or perhaps that he lives for another 30 years and there may be a policy change in the meantime.

It is tough, I know, but maybe keep imminent suicide as a plan B for now?

Horrible thread title. My parents are gone. It is truly terrible when you have no parents left, and I find the flippancy of the title upsetting. I'm sorry about your situation OP, but at least you have your dad. Count yourself lucky, and don't wish him gone. The thread title seems that you do wish it.

Don't worry OP this lot will be gone in 5 yrs and the Tories will reverse it

i read on another thread that apparently people were falsely classifying non-farmed land as farms to avoid inheritance tax, and this rule change is trying to address that, rather than just wanting to club farmers.

Would it be possible for the government to do as someone suggested on another thread - eempt working farms, where the beneficiaries were continuing to farm, from this IHT change?

That would hopefully address the issue I've quoted (and heard of being done) whilst also protecting working farms (and therefore protect food security)?

I'm very sorry your father is feeling so distressed @Spatulation easier said than done, I know, but I hope he can try to not panic and gets some support - both for his mental health and also any possible financial planning.

Just to add, I'm a "townie", but I'm aware of the importance of food security and supporting working farms.

I'm really to sorry to hear this op. I think this policy is incredibly short sighted by Labour. If your family lose their farm, that's a family legacy gone. Most farming families i know are big supporters of their local community and all that will be lost. For what, more land for housing?

But they've had years to prepare. I'll be honest though, I don't know the exact details of this new tax - I'm very worried that families who happen to lose older members within the next 7 years will end up being taxed completely differently from everyone else, because they never had the chance to prepare. I desperately hope that no one would implement a new tax in such a cruel, unfair manner.

I don’t know why labour did it. They are idiots frankly. I’m not a farmer nor from the uk but I can see how important agriculture is to food security for this country and how difficult it is as a way of life and how integral it is to uk rural life.
sorry for your situation. Hopefully labour lose the next election and some of these stupid changes are unwound

Is your 2008 clapped out car capable of pulling a trailer full of sheep across a field?

You just don't understand, but don't worry, you're not alone, most people don't understand, including the government .....

@Lickthips there was a similar relief for certain businesses, reducing IHT. This is so businesses can be passed down without having to be sold or broken up. Not sure why some people think it's a great idea to break up family businesses/farms

Yes 100% this. It’s a vile title for a thread!

I think that title was written by someone in absolute despair, to highlight the no-win nature of the scenario they've found themselves in.

He's 83 .... I think there's every chance that he won't live for another 30 years.

Is that you Jeremy?