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.

To be classified as farmland fir tax purposes, the land needs to be farmed.
Not a couple of chicken and a horse.

The land itself might be classified as farmland which restrict what you can with it. Eg you can’t just build another house on it. Actually I’m pretty sure you can’t even use it as a garden. But you can grow your own vegetables on it (and that still wouldn’t be considered farming)

I didn't vote for this government..
I assume everyone who did ,is happy with what they have .
I agree the very wealthy should be paying the inheritance tax .
I'm not a farmer ,I don't pretend to know anything,I'm just killing a hour or so , debating with randoms on the net ..
But whatever I do or don't know ,I'm entitled to my opinion,just the same as you ,and no I don't have to justify it

Were they growing cannabis? 🤔

The whole point is that it will NOT be passed down to the next generation though…

How to say "i'm a conspiracist" without actually say "i'm a conspiracist"

So much v wrong in this post, not least that the courts sentence people and people calling for others to be murdered, rightly, deserve a jail sentence.

The previous Govt released over 10,000 prisoners under their early release schemes.... nothing to say about this?

Anyone who can afford PS in the first place is very wealthy.

Nearly everyone IS trapped in the poor state education system, which is why Labour are trying to raise the cash to improve it.

Government take over food production? really????

It wasn’t only the very wealthy. My secretary and her average salary DH put their Dd into private school to escape bullying. Lots of middle management put their kids into private schools and make lots of sacrifices to do this, a 20% increase means it won’t happen. Do you just swallow whatever bigoted misinformation comes your way? Or do you look out into the world and see what actually happens?

Do you actually know any farmers ?

Yes
I think your idea of an average salary is way off the mark .

Bullshit!!!! Sorry but you seriously need to educate yourself before making such statements!
The smallest farms will be affected the MOST!!! Good luck in finding any viable farming business worth less than 2 million these days!

And no the supermarkets won't buy the land. It will be the big boys looking to offset their carbon emissions by sticking a load of solar panels on it or planting non native trees dragging yet more tree diseases here.

We will lose hundreds of thousands of acres of good productive food producing ground permanently. Along with it the skills and knowledge of our farmers. It will be a tragedy for farming and a food disaster for the Uk

Have we all forgotten the pandemic already? Or the Ukraine war when food imports became far more expensive.

Food security is a massive issue and we need to produce more not less food!

No you are wrong, you didn’t always need to be “very wealthy” to afford public school.

Actually, not a conspiracy theorist at all, just a realist seeing similar activities having happened in the past elsewhere and seeing where they have ended up. Nice try though lovely!

Not really. - why would you think that?

@Daisymay6 😂😂😂 at the idea supermarkets would buy the land to grow vegs.

The aim of super arrête is to make money. There is no money to be made from farming. Actually it’s supermarkets that have skewed the system so much that farming is so hard Nowdays - see milk as an example

Seriously!! 😳🙄 No!!

I think if you come out with some of the stuff in your post, you do lay yourself open to that accusation, it was hardly rational, i mean "Govt takes over food production" or Labour jails people..... no govt jails anyone, read back your post?

Private school fees, non board, are around £18k per year, a couple on average incomes, would struggle if they have rent or mortgage costs, after tax, its close to one persons avg take home pay.

Perhaps your secretary has parental help? an inheritance?

Crack on .be rude .
Just because you can't get someone to agree with you .
I don't have to justify anything, especially not to some who is insulting and rude

I’ve followed you over the years Xenia and it is pretty depressing that you won’t pass on your home as well.

I keep saying this but it’s not a £1 million limit. It’s up to £2m. The majority of family farms will not be affected.

But they then need to give enough time for the current farms to be passed down before subject to inheritance tax

I don't think that a lot of people here understand how farming and agricultural land works. The land and farm will be valued together. The land without the farmhouse and buildings really isn't worth that much, particularly if farming is unprofitable. And if the OP tries to sell £1m of land to pay the tax bill, then the farm would be pretty unprofitable. The value from the farm comes from the combination of land, farmhouse and its valuation as a business. This isn't simply the case of the OP being rolling in it, being able to cash in a £6million pound business (if indeed it is worth that much, which I would be surprised by given how farmers are struggling financially), and then have £5 million pounds to roll around in. If the OP is forced to sell, who has the money to buy at that price? What incentive is for another farmer to buy it? There may be some sort of work around if the OP and her son live on the farm and help run it. You would need a financial advisor though.

Yes ,how did u guess

Obvious from your first post : )

Do some wider reading Daisy, a couple of people have mentioned the Kulaks. Whether or not you think there are parallels to our current situation it's worth a reminder of the value of agricultural land and what happens when governments meddle with it and the impact of damaging food security.

Much better use of your time than arguing with people on Mumsnet!

Theres lots of views on what average salary is quite a few calculations come in around £35k. So £28k net covers school fees and mortgage. Other salary pays for food and bills etc. - no holidays, trips out etc. there are lots who do this because they prioritise education.

If you look at what was in my post, I think my conclusions are fairly reasonable as a possibility. Why do you think they are not?

See I fundamentally disagree with this. If you know jack about a particular topic then actually no I don't think you have a right to an opinion. Ludicrous notion when you think about it. I mean, you can say whatever you like but why would you bother when you know you're speaking out of total ignorance? What would be the point other than just to hear the sound of your own voice?