Knobhead Clarkson

They do but so does my boss yet his daughter will have to pay inheritance tax. Has she been done dirty by all budgets?

Remember also that if a married couple own a farm worth £4m then the child who inherits that £4m asset only has to pay £200,000 in inheritance tax.

 

My brains just melted, are we actually comparing farmers who are only affected by this if they pass the 1 million bracket to miners of the 1980s who were breaking their backs to even put food on tha table?

An alternative for farmers has already been illustrated by Dreamboy even if it was accidental, sell some land if you need to (although I doubt it'd take that to raise the funds) plus they'll have 10 years to pay it back.

Compare that to the miners losing their jobs, communities and families decimated. Miners try that protest through London what the farmers did yesterday and see what happened.

The enemy within is what the government called us, called our father's and our grandfather's. Please don't ever try to compare what the farmers going through today to what our communities went through in the 80s, it's disrespectful. ill informed, misleading and a crock of sh*t.

 

Remember it's only £1m PER person so a married couple we're up to £2m if they're smart. And their house will be on the farm too usually so in reality with all the loopholes it's about £2.6m tax free

 

What fat? The public sector is on it's fùcking knees. We've allowed the Conservatives to bleed every last drop of blood from it. We're now a nation defined by a shambolic health care system, an appallingly inadequate social care system, rundown schools, overcrowded prisons, and a gazillion potholes. Plus 101 other underfunded public services. What fat would you be trimming, exactly?

 

I've had two instances where I've accumulated significant tax on capital gains. You know what I did? I paid it.

Why? Because that money wasn't mine. It's for the Treasury and we are effectively collectors and pass it on. The problem we have is greed. That some people... Rich ones generally, don't see that money as for the Treasury. They see the huge sums and it stings that it's not theirs. So they try and push their weight around with others in the hope of corrupting will to be on their side, in the public and political quarters.

This country has many issues and its indisputable that we'd have less issues if the rich, greedy and immoral simply paid their taxes in full like the typical person does.

And it should come as no surprise to see the populist press and rent a gobs backing farmers and whipping them into a frenzy with myths and untruths.

The vast majority will be unaffected. Proper tax planning will see even more be unaffected. Sadly, those that will be affected, the greedy rich with no interest in the countryside have convinced those that do, that their futures are being stolen.

 

I would put money on Clarkson using accountants to pay the minimum amount of income (and other) tax possible. If there is a loophole, he will exploit it. Not suggesting he is evading tax, but avoiding it wherever legally possible.

 

Over 10 years as well.

 

I don't know how they'll survive

 

Shhhhh, you're not allowed to criticise Clarkson because he's paid some tax and you once paid for a haircut in cash.

Or summat.

 

Possibly, but (IMO) the amounts that would be released for recycling into other areas would be a drop in the ocean compared to what's needed. The public sector needs significant investment if it's ever going to get close to the standard of services that people need/want/deserve.

 

The public sector could be managed a helluva lot better - are there good people working in there? of course there are - but there are plenty (and I know few) who love the job security, generous pension, sick pay benefits etc

Many private sector companies don't have layers and layers of mid-management red tape to cut through. I've said it before on here - AI will disrupt the public sector in the next 12-18 months

roughly 20% of the workforce is public sector - the rest private sector - the private sector would traditionally prop the public sector up with its growth - this is unlikely to happen in the coming years. I hope I'm proven wrong

I'll tell you where the 'black hole' should have been filled from - the £700bn that the government holds (Including the Tory government) for capital adequacy for banks in the event of a repeat of a financial meltdown like in 2008. In return the government pays the BofE base rate to the banks in interest (allegedly)- for what? guaranteeing the viability as a bank? They should pay them 1% - it wasnt bad when the base rate was nearly rock bottom - but now its at 4.75% is a big chunk of money.

 

You've never worked for a multinational have you? I've got more managers than I can shake a stick it. A review manager, an account/client project manager, a functional manager and probably more besides.

There is far more red tape in the average multinational than in any public sector organizations I've worked for.

 

I wish people would stop saying all farmers are wealthy because their land is worth millions. It shows real lack of understanding.

There are two types of farmers - actual farmers and then ***** like Clarkson and Dyson, who have bought farm land as a tax avoidance scam. And then with actual farmers there are two types - big commercial farms who are raking in the dough and small family farms who are just about making a living.

My stepdad is one of the latter. He’s a third generation farmer in Sheffield. He’s been working 12 hour days on the farm for about 60 years, since he was 14. Him and his younger brother (and my mum to an extent) do all the work on their own, and they’ve done it for little money.

Up until the last few years it was a dairy farm, where subsidies were needed because they got ripped off by supermarkets for the milk they produced. But they kept doing it cos it’s the only life they know, and because people need milk. They stopped with the dairy side once my stepdad realised he was too old, after nearly getting trampled to death when all the cows decided they wanted to run in the direction he was standing. They now just provide crops.

As some would point out, they have assets worth millions. About £2-3m, so my stepbrother won’t be subject to the inheritance tax when it’s passed to him. But this doesn’t make them wealthy. It will make my stepbrother wealthy, but not the people who do the actual work. In the 60 years they have worked the land they have never been wealthy. They’ve never been able to afford a foreign holiday, for example.

I keep hinting that they might want to sell the land (my stepbrother has no intention of carrying on the family tradition) and enjoy their retirement, particularly as my stepdad is currently being treated for cancer,, but they won’t. They just don’t know what they’d do with their time.

The land is only worth £2-3m if they sell it, which they’re not.. So they are far from what you might consider wealthy. I’d wager not many on here will have worked as hard as they have for 60 years for very little reward, only to then be told they are wealthy, cos the land is valuable.

The only wealthy one is the one who sells it, in this case my stepbrother, and at that point there is a very good argument for the inheritance to be taxed at the same level as the rest of us, but I’m just trying to get across that just because thd land is worth a lot doesn’t necessarily make farmers wealthy, particularly if generation after generation continues to farm it.

 

Yes I have. The key word was 'many' , I never used the word every. Your opinion , like mine, is based on experience

 

You know what,,,, like you, I also have been subject to CGT, and like you I paid it without question. I wonder if somewhere, there are others as weird as you and me.

 

Good for them Especially with the government making it more appealing for all farmers to sell up to developers so we end up with more houses, less green, less places producing food/drink for us, making us more dependable on imports, resulting in a rise in prices and emissions.

 

I suggest you look at the number of farms that have already done this in the last decade and a half, the role of the NFU and Countryside Alliance and perhaps redirect your ire at yesteryear.

I'd also suggest you research pollution and run off from farms and how they contribute to emissions, methane and nitrous oxide in particular.

 

It gets a lot of stick from certain political interests, but isn't methane from farming one of the worst causes of climate change? Along with all the farmland used to grow animal feed rather than human crops.

I have read that going vegetarian would be one of the best things we can do on an individual level for the planet.

 

Didn't really want to comment in this thread as I know nothing about farming and inheritance tax. I know a little about how poorly funded our public services are after years of austerity though and the 'fat trimming' comment made me genuinely angry. But your post made me feel a bit better. Thank you.