@crossjacktar@StuartMaggs@ilkleyIain Yes that's something I've been a bit confused about. Corporations don't pay IHT correct. In which case they will be thrilled to take land off of farmers hands
@StuartMaggs@ilkleyIain Surely land prices will NOT come down when corporates and investors can still take advantage of a 50% discount on inheritance tax?!
If Labours farm inheritance tax is truly only going to impact the wealthiest - why on earth would they only charge them 20% instead of the %40 everyone else pays?
@Socialist_Crow@keewa The data the gov are referencing only include farms that claim for APR. Commercial farms will have both APR and BPR to deal with:
https://t.co/jjczAqZFp3
A brilliant visual explanation and analysis by farmer and No Farmers, No Food steering group member Charles Goadby @thisfarmlife (with farm Lego!) on the Labour government’s punishment (inheritance tax) on family farms. Please watch and share.
@Socialist_Crow@keewa "BBC Newsnight understands that the Department for Environment, Food and Rural Affairs (Defra), which represents the interests of farmers in government, believes it was not properly consulted over the change. "
https://t.co/6FntlNyvNK
@AlexHeffron20 The problem here is that everyone believes the treasury's statistic. They insist that only the super rich will be taxed. If this was true it's like - why the hell would all these working farmers waste their time striking?!? Nobody wants to drive to London in a tractor for fun
@Socialist_Crow@keewa Why do you think thousands of busy farmers are about to use their precious time to protest? The government figures are WRONG. The majority (2/3) of hard working family farms WILL be impacted. The general public have no idea how bad this is. Farmers are under extreme pressure
@Socialist_Crow@keewa Farmers are not investment bankers! They are producing food in a hostile environment whilst trying to stay in business.
If you like food you should support farmers
@Tehan123 @keewa Either we subsidise and give tax breaks to farmers OR we pay more for our food. Unfortunately the latter is not feasible when we operate in a globalised food system. So the first option is the best option...for now.
@Tehan123 @keewa Mmmm... what could go wrong? 🫣...Holodomor. Great Leap Forward. Zimbabwe land reform
Family farms are generally 100s of years old. Governments come and go every 4 years. NHS is already a political hot potato.
@clv101 I from what I can gather farm equipment is included in the value farm estates. If this is true then the number of farms impacted is surely far greater than claimed. A single combine harvester is worth 500,000. Imagine adding on tractors and all other associated equipment!