Just about to watch the Final season of #StrangerThings (because obviously I couldn't watch it until it was all there) & I remember NOTHING from the recap 🙈🙈🙈 excited anyways!!!
Shocked and appalled by the amount of comments labeling farmers as 'tax dodgers', and that they should 'sell up' for the UK to import all of its food.
UK farmers pay Tax similarly to other businesses and individuals, covering income Tax, National insurance, Corporation Tax (if operating as a company), Capital Gains Tax, and VAT (if applicable).
The main distinctions are in targeted reliefs, especially for Inheritance Tax (IHT), which helps to support the agricultural sector as a whole by allowing the transfer of farms for the next generation to work. If a farm is sold, Capital Gains Tax has to be paid on any realised profits.
In 2024 the Agricultural industry contributed £14.5 billion to the economy and employed 452,900 tax paying workers.
So farmers absolutely do pay taxes (and have done for hundreds of years), while currently providing 62% of all food consumed in the UK. What an honourable vocation.
Thank you, Farmers.
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