Not that it's anything to do with Kemi, but here's the real impact on Farmers:
1) Only around 23% of farms qualify currently but...
2) If yours does and you are a family farm you can gift the farm to your children now and begin to hand over its running. If you live for the next seven years there is no IHT. And...
3) If you don't fancy those odds you can buy a Gift Inter Vivos life policy that will pay the inheritance tax if you die in that seven years, with a sliding benefit amount to match what the liability will be.
Those options are open to Clarkson, they are open even to the landed gentry. They are just not open to the large corporations buying up land to avoid UK tax.
Well done Rachel. I wonder if Kemi will keep this crackdown on tax evasion by TV celebrities, James Dyson and corporate multinationals?
1) Only around 23% of farms qualify currently but...
2) If yours does and you are a family farm you can gift the farm to your children now and begin to hand over its running. If you live for the next seven years there is no IHT. And...
3) If you don't fancy those odds you can buy a Gift Inter Vivos life policy that will pay the inheritance tax if you die in that seven years, with a sliding benefit amount to match what the liability will be.
Those options are open to Clarkson, they are open even to the landed gentry. They are just not open to the large corporations buying up land to avoid UK tax.
Well done Rachel. I wonder if Kemi will keep this crackdown on tax evasion by TV celebrities, James Dyson and corporate multinationals?