Keir Starmer at it again..

[Wilf Wolf]

Surely it wouldn’t be too difficult to devise a system where IHT was paid if the person inheriting the land doesn’t use it as their primary source of income for a set period of time, say 7 years? The alternative is over time farms will shrink in size and the land will be bought by huge farm businesses who will then employ a workforce on minimum wage to farm it.

I know farmers tend to vote Tory but this battle will certainly impact Labour’s support in constituencies where they’ve been elected for the first time in nearly a generation and it’s over a ridiculously small amount of money in the grand scheme of things. Really would have made more sense to target trust funds whereby people like the Duke of Westminster reportedly paid less IHT than the vast majority despite inheriting assets worth many millions.

 

[Wilf Wolf]

Duke of Westminster avoids huge inheritance tax bill using legal loophole

Hugh Grosvenor was the 68th richest person in the world when his father died in 2016 and he inherited his £9billion fortune

www.mirror.co.uk

 

[EpsomWolf]

Been learning a bit about woodland ownership when plotting off-road bike rides recently and that’s been a bit of an eye-opener. Another tax-evading loophole that needs closing.

ALL incomes from commercially managed woodlands are completely free from income AND corporation tax apparently. (I’ve no idea why either). Oh, and not forgetting all wood (the trees themselves, felled timber, growing crop) are all completely exempt from CGT at a point of sale for an added bonus. A nice little tax efficient number the accountants will have directed their elite customers in the direction of no doubt.

Mixed feelings about the farmer issues but once you have blatant tax-advantages similar to the woodlands, you’re going to attract investors that don’t really give a shit about anything other than making money and eventually make yourselves a target.

Not saying Labour have gone about this entirely the right way but I’m certainly pleased they’re looking into this sort of stuff and trying to do something about it.

 

[Keef]

Emily Sheffield ( sister of Samantha Cameron, daughter of Sir Reginald Sheffield 8th Baronet Sheffield of Normanby, who owns Scunthorpe and lots of surrounding land) saying she’s on the side of farmers against inheritance tax at the protests today.

 

[leedswolf]

 

[MARKakaJIM]

View attachment 12217

The farmers put it better themselves.

 

[Elephant Pyjamas]

That's a bit much isn't it?

 

[Elephant Pyjamas]

What is the percentage of farmers who voted for Brexit I wonder?

 

[Tony Towner]

2 wrongs....

 

[Elephant Pyjamas]

2 wrongs....

Oh I know, but I fail to have too much sympathy for them when so many would have voted to decrease the quality of life for millions of people up and down the country.

 

[Sniffer]

What is the percentage of farmers who voted for Brexit I wonder?

58%

 

[Templeton Peck]

Mike Galsworthy (@mikegalsworthy.bsky.social)

And THAT is exactly how people with a huge sense of entitlement regularly behave when they get caught out. #JeremyClarkson

bsky.app

 

[Wellen Wolf]

The farmers put it better themselves.

View attachment 12218

Innocent question. Does anyone know if they have been given permission to protest? I also assume that there's plenty of battle hardened riot police ready to supervise and/or kettle them if things get out of hand.

 

[Tony Towner]

Mike Galsworthy (@mikegalsworthy.bsky.social)

And THAT is exactly how people with a huge sense of entitlement regularly behave when they get caught out. #JeremyClarkson

bsky.app

If you see the full interview he actually articulated it well

 

[Del Woppio]

Aye, funny how people who protest against genocide or the distruction of the planet get absolutely slaughtered, yet millionaires who are irked that their friendly tax regime isn't quite friendly enough are enjoying lashings of public support

 

[Tony Towner]

Oh I know, but I fail to have too much sympathy for them when so many would have voted to decrease the quality of life for millions of people up and down the country.

They were sold a lie, along with a large chunk of the rest of the 52%. Their motivations in the main were naive, there was enough information out there to have informed themselves better, but they were promised something that was bollocks. A different discussion to those who voted that way on xenophobic grounds

 

[MARKakaJIM]

They were sold a lie, along with a large chunk of the rest of the 52%. Their motivations in the main were naive, there was enough information out there to have informed themselves better, but they were promised something that was bollocks. A different discussion to those who voted that way on xenophobic grounds

Similar rabbit hole they've gone down now though. It's not the government coming after a bit of extra tax that's screwing their business, it's the customer driving down their income.

 

[Tony Towner]

Similar rabbit hole they've gone down now though. It's not the government coming after a bit of extra tax that's screwing their business, it's the customer driving down their income.

That's not something they can fix though and pre dates Brexit by a couple of decades. That utopia is what they thought they'd find. There's a video today of JO'B at his sneering worst against an equally offensive farmer

https://twitter.com/x/status/1858864050743992577

 

[Elephant Pyjamas]

They were sold a lie, along with a large chunk of the rest of the 52%. Their motivations in the main were naive, there was enough information out there to have informed themselves better, but they were promised something that was bollocks. A different discussion to those who voted that way on xenophobic grounds

Like i said, I struggle to have too much sympathy for them.

Likewise with that guy who has a 4.5million quid farm he's going to inherit.

The poor bugger.

 

[PuntsWolf]

Correct me if I’m wrong here. But it seems pretty bizarre that if I inherit a farm because my dad died I’ll have to sell some of it to pay the tax bill?

I must be missing something as that makes no sense to me.