This policy won't help with this in any way. The small parcels of land that will be sold off to cover the tax will not be big enough for any realistic commercial farm to exist on. They'll more likely fall out of farming use. The fact this argument is being trotted out shows a level of ignorance amongst those defending the tax.
If they see a field with a pond, with a family having a picnic, they fill the pond with concrete, plough the family into the field, blow up the tree and use the leaves to make a dress for their wife who's also their brother.
The left's policy of envy has been replaced with the policy of bare faced revenge. What a way to run a country.
Brexit has heightened the challenges facing farmers, but there’s lots of issues farmers will tell you about if you listen to their side. Massively rising costs vs stagnant prices is a huge problem. Energy costs, fuel costs, costs of feed, minimum wage costs for manual labour - all of these have risen enormously against the price received for meat, milk and produce generally.
No it isn't. A "rural farm" is still a business. These are not simple peasant folk with smocks and a bit of grass in their mouth.
I’ve got more friends than you’ve got cows.
Had a long chat with one of my old schoolmates at the weekend - her and her husband are in the process of giving up their (pig) farm. They simply can’t make it pay any more - meat prices continually squeezed by the markets, costs rising, regulation strangling them etc etc. Actively encouraged their kids away from it as they could see what was coming. Another mate who runs a chicken farm (he started when we were at school) is being absolutely stifled by regulation too and is close to packing it in.
IHT is more the straw that’s breaking the camel’s back………
For you primary residence you'd need to pay rent. But they could give the farm without the farmhouse.
It's not just the land value either, a tractor will set you back £250000 without attachments. Like most of the budget, the ideas are OK but there has been scant attention to detail and how things would work in practice leading to pretty crappy outcomes for many. More urban tosh as far as I am concerned. Still plenty will carry on having a pop at farmers or anyone else they think has a few quid more than them.
Maybe the bigger land owners, East Anglia was covered with Vote Leave posters back in 2016
Wait till the Australian quotas start kicking in with Truss's trade deal in the next 10 years, IHT on 10 years interest free credit will be the least of their problems.
What’s a pub in Lancing got to do with this?
…..and now they can’t get enough staff to pick their veg……..
Well quite, but I hope I answered your question. There’s two sides to this, when you take a moment to look at it from the farmers perspective it’s clear this isn’t some huge greed issue with millionaires refusing to pay their fair share, in most cases outside of your Dyson’s and Clarkson’s, these are people barely making ends meet working enormous numbers of hours.
So what you're saying is, the likely sized holdings of 500acres+ that might be liable for IHT in the first place will at worse only have to sell off only a small/tiny piece of that land anyway, and have 10 years to do it, in the event they haven't already planned the succession of family members to that farm before they die and eliminated the IHT liability already?
Better than more golf courses.
The greenbelt is protected by planning legislation not agricultural goodwill. I suspect most farm holdings have gone through some form of planning process to try to get a barn into a house, or change of use of a parcel of land etc. IHT won't change planning outcomes unless planning legislation changes.
