Will be descending on London today to protest about maybe having to pay inheritance tax.
Who do they think they are? THE ROYAL FAMILY!
The threshold for a married couple could be £3m before they pay a penny
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Farmers don’t want to pay tax
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Whilst 'off-topic' means all non-football topics can be discussed. This is not a free for all. Rights to this area of the forum aren't implicit, and illegal, defamator, spammy or absuive topics will be removed, with the protagonist's sanctioned.
Whilst 'off-topic' means all non-football topics can be discussed. This is not a free for all. Rights to this area of the forum aren't implicit, and illegal, defamator, spammy or absuive topics will be removed, with the protagonist's sanctioned.
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Fauxstralian
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Re: Farmers don’t want to pay tax
I am fully onboard with taxing those who use this to get around inheritance taxes.
However, farmland is high value because of the acreage requirements. The value of that land is great but they won’t have the income to pay the tax.
The land will be sold and we will lose more farmland from the food chain, which is exactly what those WEF stooges want.
However, farmland is high value because of the acreage requirements. The value of that land is great but they won’t have the income to pay the tax.
The land will be sold and we will lose more farmland from the food chain, which is exactly what those WEF stooges want.
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frank marker
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Re: Farmers don’t want to pay tax
If you do not own a farm and you inherit property, you have to pay tax on it, subject to certain thresholds which iirc start at about £325k. For most people who inherit above £325k I would guess this comes in the form of a property which they sell in order to be able to use the money how they wish to.
I would suggest that there are an awful lot of people in this country who would love to have to pay that tax because they can only dream of inheriting that amount.
Whilst I recognise that farmers may be cash poor comparative to the wealth they have tied up in land, this doesn't mean that they should be exempt from paying the same rate as any other person when their offspring inherit.
If you look into the details of the plan it will hit the wealthiest landowners the most and not those with the smallest farms or in the areas where land prices are lower.
My understanding is that it is fair and proportionate. If there is someone on here who owns a farm, please explain why you should be liable to pay less tax than other taxpayers or their offspring.
I would suggest that there are an awful lot of people in this country who would love to have to pay that tax because they can only dream of inheriting that amount.
Whilst I recognise that farmers may be cash poor comparative to the wealth they have tied up in land, this doesn't mean that they should be exempt from paying the same rate as any other person when their offspring inherit.
If you look into the details of the plan it will hit the wealthiest landowners the most and not those with the smallest farms or in the areas where land prices are lower.
My understanding is that it is fair and proportionate. If there is someone on here who owns a farm, please explain why you should be liable to pay less tax than other taxpayers or their offspring.
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Mike Oxsaw
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Re: Farmers don’t want to pay tax
Fauxstralian wrote: ↑19 Nov 2024, 06:43 Will be descending on London today to protest about maybe having to pay inheritance tax.
Who do they think they are? THE ROYAL FAMILY!
The threshold for a married couple could be £3m before they pay a penny
Isn't this simply a thinly disguised veil over the New World Order to transfer wealth back into ne hands of the (chosen) few, no matter some of that wealth has been in the hands of some of the many for generations?
Does the government think that it can make a better fist of farming and land management by simply installing their own state controlled puppets? The way they "manage" the NHS would suggest not.
I don't begrudge the farmers and their families a single penny - except when they tell me to "Get orf moi lan'".
If the government really want to grab from the landed, then they could do no worse than re-legalising fox hunting and taxing all related activities to such events at 500%.
Does the government think that it can make a better fist of farming and land management by simply installing their own state controlled puppets? The way they "manage" the NHS would suggest not.
I don't begrudge the farmers and their families a single penny - except when they tell me to "Get orf moi lan'".
If the government really want to grab from the landed, then they could do no worse than re-legalising fox hunting and taxing all related activities to such events at 500%.
Re: Farmers don’t want to pay tax
A lot of these farmers are asset rich but cash poor. The land is worth loads but the income won’t pay a 100k tax bill even if it is spread over 10 years.
So what do they do? Sell some land? Yes but then their income reduces further.
However, some very rich people are 100% using it to avoid paying inheritance taxes. Doesn’t James Dyson own a lot of ‘farming land’?
So what do they do? Sell some land? Yes but then their income reduces further.
However, some very rich people are 100% using it to avoid paying inheritance taxes. Doesn’t James Dyson own a lot of ‘farming land’?