Farming - kerfuffle

[Solomotree]

interesting how Jeremy Clarkson, one of the biggest vocal opponents of the inheritance tax on farms, literally boasted that he bought the farm to avoid paying it. It’s people like this we need to clamp down on and where people’s ire should be directed. And the vast vast majority of farms will not be affected.

www.theguardian.com/uk-news/2024/nov/01/farmers-shocked-budget-inheritance-tax-estates

Farming is entirely different.....its a particular type of business, not just a house.

Don't bite the hand that feeds you.

Where is this farm workers cottage going to appear from?

theres no farm workers cottage on our farm just the main farmhouse, we wouldn't get planning for one as it's a national park, the nearest village where there would be housing for us is nearly 5 miles away.

At 11pm, 12am, 1am, 2am when I need to check a cow calving or check lambing sheep it's ok to do a 10 mile round trip each time?

@Yorkmarkets you really have no idea suggesting farmers should just sell their home to pay the IHT and then just move in to the "farm workers cottages" - Where are all these spare dwellings just lying around empty waiting to be moved in to 🙄 you really think farmers should be made homeless to enable them to pay this cruel and terribly thought through tax?!

What are you talking about? So you own a diary farm and need to milk twice a day. You don't have a 'farm cottage' . Where will you live and how are you to get to work? How will lambing work if you don't live on the farm?

No. As you said yourself, he's a bell-end, and not worth wasting my time on.

Where are they living before they inherit the farm? In one of the multiple other houses on the farm that's where. They certainly aren't all living in multiple generational households! Don't be ridiculous.

Why bother changing the rules if it’s not going to raise much money.

because as I literally have pointed out in the op farming is being used as tax avoidance

If you already live there you already own the farm and are the farmer...

In the farmhouse you want to sell?

And live in the farmhouse. You sell the farmhouse so where do you live?

Yeah it won't take long. Static caravan? Sell some land. Plenty of options. Farm workers often stay in static caravans.
Sell some land to pay for it then if you don't want to sell the house. I don't get to keep my parents house to live in even if it is more convenient for my work because I need to pay the iht bill

But you won't be inheriting the farm if you already own it will you? So that is a moot point, and nobody can know how long this policy will stay in place so most likely won't be relevant for the next generation

That’s possible I guess as it wasn’t in the manifesto. How would you address the use of farming land as a tax dodge which has caused massive price rises?

The tax free threshold for a married couple of farmers is £2.65m according to the BBC website. This means only 80 farming estates that were inherited last year will be affected. I can't get too worked up

Farmer and his family living in a static caravan? Are you for real? It's difficult enough to attract people into Agriculture as it is. Who on earth would do that.

You can’t accuse people with small farms as hobbiests . Due to land prices, machinery prices, sometimes all a second son can get/afford is a small farm and also do another job. They are not any less of a farmer
Hopefully this policy will cause land prices to drop and that will take more family farms out of IHT and stop the very wealthy buying up farmland which will allow those of is who are smaller farmers to buy some more land

Thankfully I’ve inherited my wee farm and Rachel Reeves won’t get her hands on any of my family’s money. She’s as common as muck in my opinion

I have some sympathy with farmers worries. Or did, before this sort of snobbish insult. ‘Common as muck’? Grow up. You aren’t helping yourself.

I'm a tenant farmer so more likely to be thrown off the land so the landlord can pay their IHT bill, I don't own it.

it's been repeated over and over again that selling land means destroying the farm, and selling your parents house when presumably you still have your own house to live in is not comparable. Even I as a tenant farmer with no inheritance to gain can see that.

No I just ignore him really

I’m so fed up with this that I’m being a bit childish. Soz

The NFU is estimating 50% of family farms will be caught by this. Labour has included small holdings in its analysis when it claims most farms won't be affected. They have included very small blocks of land in their analysis which has distorted it and means the real impact is being underestimated.
As a previous poster commented this policy will hit the worst group possible, the genuine family farms. The small holders will be exempt. It won't prevent the James Dysons or large corporations buying up land but will take out genuine food producers. The potential financial, cultural and environmental impacts are huge.
People on here who think £1 million is a lot are right when it is cash. For working farm businesses it is nothing. A beef farm carrying 200 head of cattle each worth £1500, plus calves, plus a few tractors,plus sheds one with a barley yield in it. You can get to 600k without including land or a farmhouse very quickly.
We are impacted as a family and frantically looking at options that might allow us to avoid selling up to pay IHT which given our set up is likely in next 10 years or so. Having worked full time whilst my husband farms to make us viable and tried to add to the family farms worth for 20 years with sheds and land now looks like having been a total waste of time.

He's such a twat.
Two things I always remember about him. Him saying he'd run a fox over in his landrover. And his tailors saying they were too afraid of him to tell him his real measurements when he'd got fat.

It must be a worry for you and your family after all your hard work. I'm sure you dont fancy living in a static caravan....

Oh dear, you REALLY have no idea how multigenerational farming partnerships work do you.

The older generations rarely hand anything over other than the work before death. So many farming sons and daughters work for wages that in any other situations would be considered modern slavery their entire lives on the promise that it will all be theirs one day.

The one benefit of this change will be that it will force the older generation to the table to have proper succession discussions something that is well known in farming to be a massive issue. I'm not convinced those discussions will result in decisions that will be positive for food security in the UK though,