17 Nov
9:34am, 17 Nov 2024
30,148 posts
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richmac
Oops. It's the Brexit they voted for* *Who knows. |
17 Nov
11:54am, 17 Nov 2024
8,669 posts
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Winniefree
An interesting analysis of the farmers’ inheritance tax fury from James Rebanks https://unherd.com/2024/11/a-fa.. |
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17 Nov
11:55am, 17 Nov 2024
8,670 posts
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Winniefree
Well that worked then - try again unherd.com |
17 Nov
12:40pm, 17 Nov 2024
18,129 posts
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jda
I can't for the life of me work out why a "family farmer" sitting on say 5 million of assets, apparently slaving away all the hours of the day and night for minimum wage, doesn't just sell up and live in the lap of luxury for the rest of his and his children and his children's children's (etc) lives? It's certainly enough wealth that you never need to work again, it may not be private yacht territory but it's enough to live more comfortably than, well, a farmer for starters. Something doesn't add up. |
17 Nov
2:15pm, 17 Nov 2024
9,987 posts
|
simbil
Maybe the market isn't great for selling on farm land and buildings? The simplest fix to this seems to be re-working it so that it does not penalise genuine family farmers by raising the tax threshold. But again, I dunno much about how the likes of Dyson and Clarkson use it as a tax dodge and these things are often complex. |
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17 Nov
2:29pm, 17 Nov 2024
18,130 posts
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jda
If it can't be sold for 5 million it's not worth 5 million.
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17 Nov
2:42pm, 17 Nov 2024
18,131 posts
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jda
More on the “inheritocracy” theguardian.com |
17 Nov
2:47pm, 17 Nov 2024
6,988 posts
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paulcook
simbil wrote: Maybe the market isn't great for selling on farm land and buildings? . I do wonder if we’re going to end up with more of the farmland owned by a smaller proportion of the rich landowners. |
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17 Nov
2:48pm, 17 Nov 2024
9,988 posts
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simbil
Yep - but like jewellery and other high end items, they might have to sit on the shelf for a very long time because they are not wanted often and the buyer pool is shallow, so overall turnover could be very slow. Unless you sell it well under market value for a quick sale.
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17 Nov
2:49pm, 17 Nov 2024
9,989 posts
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simbil
Yep, I worry about that too Paulcook - would prefer to see family farms carrying on.
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