UK Farmers

[SunQueen24]

Can someone please explain to me what today is all about?

I actually don’t have a huge problem with this.. it’s estimated to be in the hundreds for the amount of farms that would pay this.

Lots of wealthy people do buy up land to avoid tax- ie James Dyson.

The terms aren’t too unreasonable and farmers should look into some kind of insurance- life or other to cover the potential cost of inheritance tax and then it will be fine to pass it down with no huge bills.

When others have family businesses, they have to play by tax rules too.

@Missymoo100 but why make it harder for me when the government raise CGT/stamp duty/business rates etc etc! I don't ever hear farmers helping any other cause apart from their own! Their only argument is to call people that don't agree with them ignorant or we don't have a clue about farming!

I rented a property from a farmer who had over 200 properties! They were shambolic landlords, didn't even put in an oven but was quite happy to collect the £1200 a month rent! Every tenant I spoke to had issue with the farmer/landlord! He's probably at the march too!

@AMFA do you think farmers are the only people on the country that work seven days a week with no time off! No! Stop banding about the word ignorant! I just don't see the problem in getting farmers with huge assets to pay a little more!

@ClaudiaWankleman

"Large investment firms don’t own or manage large parts of the food chain."

But large investment firms do own large amounts of farmland (even more so in the US) and I would say that owning the actual farmland is a large part of the food chain.

@Pammela2 family businesses used to have IHT relief and RR has reduced that too

It is a nasty vindictive tax that will ruin many people’s lives and might raise enough to cover the cost of the nhs for about a day.

I've been thinking about this some more and we probably drive slightly nicer cars than someone in equivalent jobs would drive if they weren't farmers. They are 5 and 6 years old now and not premium type brands but they were bought new when they were bought (on finance).

But we don't go on holiday, there's no takeaway deliveries, uber eats, taxis, we don't go for meals out and day trips are rare. No gyms nearby to be members of.

We are 4 miles from the nearest village and 16 miles from the nearest supermarket. Its essential for us to have a reliable car and we don't spend our money on other luxuries.

I suspect that's the same for many other farming families - it's the one luxury they have but as a result people call them 'minted' and wealthy when in reality they are working hours that are incomprehensible to most in conditions most would consider intolerable, and their one reward from that is being able to drive a decent car.

Frankly I'd rather be able to have a holiday and the mysterious things I hear people call weekends, but there we go.

Yes of course they have? They have of course retired. Wha point are you trying to make?

Like everyone else in the country, they have to pay IHT on their house or they can gift it to their family and pay rent, or move out and not pay. It would actually be monumentally unfair for them not to be just by virtue of the job they used to do?

There are so many ignorant comments on here that just underline how little people understand farming. Farming is a unique way of life and unless you live it, you have no idea.

Farmers are asset rich, cash poor, the farm is only worth something to them if they can sell it which doesn't happen as it goes from father to son
Banks are withdrawing loans and overdrafts and refusing to lend money
Farmers are generally caretakers for the land as it passes from generation to generation
Most farmers are not making a profit.
Farmers work 7 days a week all year round
It doesn't matter how many years they have to pay IHT they simply have no money
Farmers cannot dictate a price, the supermarkets tell them what they will pay
A lot of farmers have mortgages on their land.

Some farms are Agricutural Tied which means that you cannot sell off any part without selling the whole farm
Some farmers work for years for no/low wages on the basis that the farm will be theirs one day
Some farms have 3 generations working on it
Farmers spend money on the farm not the farmhouses
Machinery costs thousands of pounds and is usually on Hire Purchase
Subsidies have got less and less and a lot are given for land management

No farms equals no animals, no land management

Other businesses affected are machinery merchants, feed merchants, vets, country store, the list is endless.

Farmers have taken food and produce to London today for the food banks.

I expect they don’t know much about my taxes or profession either.

The tax comes in in 2026
Thats not in seven years time.
Labour haven’t give farmers the same warning that everyone else has

@ClaudiaWankleman most people can’t afford to give away their home for nothing and then buy somewhere else to live. Farmers are asset rich not cash rich. So if they give away their farm how do they afford to buy another house?

No they don’t really in the UK.

Have you got Google?

https://www.fwi.co.uk/business/markets-and-trends/land-markets/who-owns-britains-farmland#:~:text=According%20to%20his%20research%2C%20land,tycoons%20and%20the%20public%20sector.

If they have started a thread about your profession and taxes on mumsnet then you have a point.

So don’t die within 7 years then?

Ultimately, land will be bought up by corporates (supermarkets). Say goodbye to naice high welfare agriculture. Hello to US/Dutch style intensive agriculture.

In other news, landlords are exiting the market to the applause of Lab supporters. Rentals will ultimately be bought up and run by corporates (banks).

The whole country will soon be owned and run by big business who basically have the unigovernment in their pocket.

Depressing train of thought.

Completely unreasonable comment

@Huffalumps but it's OK to sell it to billionaires and millionaires like Dyson and Clarkson? And the fuckwit Farage jumps on the bandwagon to push his agenda! Still intrigued about his farming routes?

Quite. So it’s not targeted to only farmers.

I don’t understand the point you’re trying to make.

@Pammela2 so family businesses will impacted which won’t be great either. Not going to encourage people to set up businesses

I’m not sure that’s an ideal argument as most people inherit subject to IHT.

Pretty much this but then those hit by policies are usually in this group

Farmers are the latest, I doubt Labour will listen but it would be good if they did

That’s my issues with the argument re farmland not staying as farmland. They are otherwise free to dispose of their assets and many do chose to do that outside of farming.

Labour's land grab in short