A farmer dies in April 2026.
His son inherits the farm. The farm has been in the family since 1847.
The farm consists of: 300 acres of grazing pasture, a farmhouse built in 1892, a barn, a milking parlour, two tractors of varying ages, a Land Rover that runs about 70% of the time, and a herd of 180 Hereford-cross cattle.
On paper, the farm is worth approximately £3.2 million. This is because land near him has been bought recently by a London hedge fund looking for carbon credits, which has dragged the comparable value of every field within forty miles upward to a number nobody local can justify.
In cash, the farm produces a profit of about £28,000 a year in a good year. In a bad year it loses money. The son also works as a fencing contractor three days a week to keep the operation viable.
The inheritance tax bill on a £3.2 million estate, even at the reduced 20% rate, comes to approximately £140,000 after the increased threshold is applied. The son does not have £140,000. The son has never had £140,000. The son has £4,200 in his current account and an overdraft.
The son sells 60 acres to a developer to pay the tax. The developer puts solar panels on the 60 acres. The remaining herd cannot be sustained on the reduced land. The herd is sold. The barn becomes a holiday let.
A different family eats Brazilian beef this Christmas without knowing why the price went up.
The Treasury collects £140,000.
The land never produces British food again.
@ITruth98 There are reasons why he might come. Breaking the image of him being a checkbook manager might appeal, and as you say, coming back to where he learnt so much about tactics could be a pull. I don't see us parting with Lucio, but you never know. Our problems go beyond the manager.
Funny how the Sky cameras just happened to pick out this bloke ready to whip out his Arsenal bottle should City have won last night. What are the odds? 🤔
@ITruth98 Perfectly put. We ate on the right path with Spaletti, it's clear. We can't hide from the fact the starting XI still lacks something, though.
@juvenewslive Domenico Morfeo could have been a great if I achieved what he was capable of. But he didn't. Football is about potential skills alone. Most professionals would be unplayable of they had a Christian Ronaldo mindset, but they dont. Stupid comme from Cassano
@ITruth98 We should use this failure as a springboard to fix it all. Get Baggio back involved and listen to his suggested reforms. Bring Mancini back, he will have learned from his post Euro win mistakes. We need systematic change
@IFTVofficial Mancini should come back and reboot us the way he did after the last failure. Yes, he then went on to throw the good work away with being too conservative in his choices post Euros, but that failure will be a valuable lesson. Otherwise Give Allegri a chance.