@DanNeidle Sorry Dan, but I’ve been reading all the right wing commentators saying your some Labour stooge, how can it be that you then write a thread that criticises the budget….. I sure they can’t all be wrong??? 🤣🤣🤣
@mark_wharrier@davidyelland@OctopusEnergy And no doubt during the 80/90s you were just as proactive in ensuring UK coal mines remained open and subsidized as opposed to buying cheap coal from overseas.
Here’s a video produced by “Led by Donkeys” out of the U.K. that puts down the timeline of how Musk used X to get Donald Trump elected. I would save it because I don’t think it will be up for long.
@Spamsalotnow @mj_cotton@DanNeidle@ShepherdWales As I am sure multiple people have already pointed out. Land value and IHT farm value are not the same thing. IHT will only take into account the value of the land on the basis of its farming value. If it has development value because it’s near greenbelt this will be ignored.
@Catherinewith11@guyshrubsole@MilesKing10 Important note. Farmland for IHT will only be valued for its single purpose as farmland. So a field near a city will have significantly higher value as potential for housebuilding, but this is not taken into account for IHT.
@Catherinewith11@guyshrubsole@MilesKing10 A number of farms near me do roughly this right now. To maintain acreage and clear debts. If you are further from city/urban development the sums would be harder but not impossible.
The current tax rules came in 1992 and farmers survived before then and will in the future.
@DanNeidle@TheIFS Would these factor in other costs which are in Germany France etc part funded through compulsory insurance such health and social care for elderly?
@Prawns@RestIsPolitics@RoryStewartUK@campbellclaret Plus it’s likely that these changes will depress land values as the rich will no longer buy farm land as a way of avoiding IHT which will be positive for farmers as buying a farm or expanding your existing one will become more viable.
@Prawns@RestIsPolitics@RoryStewartUK@campbellclaret I think you need to look at what the tax consultants are saying on this.
It’s very likely you can bequeath a £3m farm with no IHT at all with a little bit of planning. And even a £5m property the effect will be minimal. Which leaves them only the big estates.
@rammydev@dieworkwear Traditionally, I was taught the tie knot is determined by the collar of the shirt and the weight/thickness of the tie. The suit has no determining factor.
@haydno@BladeoftheS I believe the Royal Family are exempt. Mainly to avoid an uncomfortable conversation between monarch and state about who actually owns it all palaces and houses etc…