@MrKnight2205@barryb1478@PippaCrerar @guse_guse You started arguing the case for multi generational farming families, and have somehow veered of on a tangent where farming is no longer the family's primary activity.
@MrKnight2205@barryb1478@PippaCrerar @guse_guse Your fantasies are getting ever more extreme.
Any farmer (of such a sizeable farm) with a realistic chance of dying within the next 7 years wouldn't be running it single handed.
Any nephew et al of said farmer, would have been prepared for taking over long ago.
@MrKnight2205@barryb1478@PippaCrerar @guse_guse This isn't America.
Totally different situation.
We keep hearing how there's no money in farming here, so why on earth would investment companies speculate on agricultural land here ?
@MrKnight2205@barryb1478@PippaCrerar @guse_guse A single farmer can also gift his farm at least 7 years before his death to avoid IHT.
There is no reason that your 'example' should have any IHT liability.
@MrKnight2205@barryb1478@PippaCrerar @guse_guse Agricultural land's value as a tax dodge far exceeds its value to grow crops.
It's pure fantasy that corporations will speculate on the value of agricultural land after the tax dodge is removed.
@MrKnight2205@barryb1478@PippaCrerar @guse_guse When agricultural land is no longer a speculative, tax dodging asset, its value will fall. There will be no tax liability.
@wil68581@barryb1478@PippaCrerar @guse_guse If agricultural land had that sort of value, the likes of Blackrock et al, would be buying it up already.
What will actually happen is that cheaper agricultural land will be affordable to new entrant farmers, who currently can'take farming pay.
@MrKnight2205@barryb1478@PippaCrerar @guse_guse When agricultural land is no longer a speculative, tax dosging asset, their farm will fall back under the £3m threshold, and the tax liability will be zero.
@MrKnight2205@barryb1478@PippaCrerar @guse_guse It's simple.
Genuine family farmers don't own farms worth over £3m.
This will be even more true when the value of farmland returns to its uninflated worth.
@ramonagusta@DavidHenigUK 5.8m people signing the petition for a confirmatory brexit referendum was decisive.
2m bad losers at the last General election, not so much.
@Rod__Mason@DavidHenigUK Why ?
The UK government ignored a petition for a confirmatory EU referendum, signed by nearly 6 million people.
The current Labour government are neing consistent.
@IokSotto @__CarpeVinum__ @DPJHodges What proportion of those rioters have actually 'had their lives destroyed' by such incidences, and what proportion believe the far right scaremongering that it's an increasing problem ?