Keir Starmer at it again..

[AndyWolves]

IHT normally applies to businesses I believe.

 

[BillyDee]

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.

Are you okay with IHT in other situations?

Also, less than 4% of people are affected by IHT at the standard 20% rate, it will be half that for farms. If your dad had a big enough farm to qualify to pay IHT, the idea is that there would be enough income to pay it without selling any of it.

 

[PuntsWolf]

Are you okay with IHT in other situations?

I’ve never thought about it tbh. But assume in the case of selling a parents expensive house it was useless anyway empty so you take your cut of it. 60% of something rather than 100% of nothing I guess.

But in the case of a farm, it’s not useless as it’s still growing stuff and is just land in the middle of nowhere? And is likely your livelihood too?

Also, less than 4% of people are affected by IHT at the standard 20% rate, it will be half that for farms. If your dad had a big enough farm to qualify to pay IHT, the idea is that there would be enough income to pay it without selling any of it.

Well according to that farmer on the video that’s not the case. But I don’t know either way.

 

[BillyDee]

But I don’t know either way

No one seems to...

How many farms would be affected by Budget changes?

Estimates of the number of farms affected range from 100 to 70,000.

www.bbc.co.uk

 

[AndyWolves]

Just needs some enterprising individuals to offer 0% IHT loans which can be written off against income tax so it all nets out at 0

 

[leedswolf]

AndrewT (@andrewt500.bsky.social)

A message from a REAL farmer who hasn’t been brainwashed by the Tories, wealthy landowners and the right wing media👇🏽 #FarmersProtest

bsky.app

 

[Paddingtonwolf]

Well all these rich farmers sort of need to transfer their farms to beneficiaries and live on them and work on them as beneficial owners for life. All they have to do is stay alive for 7 years and the lot is given tapering relief.

Should that look unlikely, the beneficiaries can use the farm as collateral to obtain a bridging loan to pay the IHT and release the estate.

All of which is what everybody else who is lucky enough to have an estate big enough to hit IHT has to do.

I have zero sympathy for the wankers.

 

[leedswolf]

Claire Simone (@clairesimone.bsky.social)

bsky.app

 

[Sniffer]

Well all these rich farmers sort of need to transfer their farms to beneficiaries and live on them and work on them as beneficial owners for life. All they have to do is stay alive for 7 years and the lot is given tapering relief.

Should that look unlikely, the beneficiaries can use the farm as collateral to obtain a bridging loan to pay the IHT and release the estate.

All of which is what everybody else who is lucky enough to have an estate big enough to hit IHT has to do.

You can buy insurance/life cover policies that would pay out the equivalent of the IHT bill should they not live the 7 years.

 

[Paddingtonwolf]

yes you can of course

 

[Templeton Peck]

Clive Lewis MP (@labourlewis.bsky.social)

This post from the PM is problematic for a number of reasons. A thread…🧵

bsky.app

Unfortunately Clive Lewis is absolutely spot on here.

 

[Paddingtonwolf]

He raises a very interesting and pertinent point for certain. There is no doubt that Labour inherited a financial shit-show from the years of "Tory Chaos" but if you target that alone, aren't you really hitting a symptom rather than a cause, which is what I interpret Lewis as saying.

In other words, the Tory Chaos most definitely made shit worse and more difficult to sort, but you will actually sort very little without looking beyond that to the economic factors at play. And many many people are in very shit situations that definitely could be targeted in the spending that needs to be done in curing the economic malaise. If you shout Tory Chaos and do very little, then a big chunk of voters will not have seen enough improve in 2028 and that invites a similar result to what the Democrats will now have to endure.

Whether attacking the association with the company Starmer has mentioned is correct, I genuinely don't know, as I don't know a great deal about them, but I will happily agree that trumpeting American (if they are) hedge funds as great for the economy is a bad call. American hedge funds are in it for American hedge funds at the expense of every other interest. It is like taking the English Company Law idea that the first duty of directors is to act in the interests of the shareholders and pumping it with weapons grade steroids. There is no "greater good" idea out there. It is all purely about returns.

I cannot believe I used the greater good twice in less than 24 hours. I had better go and watch Hot Fuzz.

 

[Elephant Pyjamas]

 

[Paddingtonwolf]

It is the most pointless thing ever. They can have a debate (which won't happen) but the parliament act means that basically it is down to the Prime Minister to dissolve parliament early, which he isn't going to be minded to do with a massive majority.

 

[Elephant Pyjamas]

There's been loads of these down the years, to get the Tories out though obviously.

 

[Paddingtonwolf]

And they are doomed to fail by law.

 

[Kenny]

Farage has never...NEVER...seen anything like the numbers on the GE petition.

Poor bloke totally missed the near 7 million on the petition after Brexit.

 

[Kenny]

Won't someone think about the Castle owners

 

[Paddingtonwolf]

Poor rich cunt.

 

[Paddingtonwolf]

Farage has never...NEVER...seen anything like the numbers on the GE petition.

Poor bloke totally missed the near 7 million on the petition after Brexit.

Starmer needs to agree to the debate, stand up in the chamber for his opening argument, say "you lost, get over it", drop the microphone, and sit back down.