I sense some shock in the studio that not everyone is fully on board with farms of any size paying zero inheritance tax, but views have always seemed to me much more nuanced than the "whole country is behind you" right-wing press headlines. ~AA #BBCQT - ThreadSky

bestforbritain.bsky.social • 101 days ago

I sense some shock in the studio that not everyone is fully on board with farms of any size paying zero inheritance tax, but views have always seemed to me much more nuanced than the "whole country is behind you" right-wing press headlines. ~AA #BBCQT

Comments

robeagle.bsky.social•101 days ago

Should they be given a discount on the tax due to providing very much needed Food? Sure yes! but should they still have to pay SOMETHING? Damn right. The current State of said Bill is too extreme in one direction it needs to be made fair on all sides honestly.

johndaledalton.bsky.social•101 days ago

They are. They only pay half what others pay.

duncancd.bsky.social•101 days ago

Absolutely, the BBC seems amazed that most people don't read the Daily Mail.

lesley58.bsky.social•101 days ago

During 1 of many CAP reforms, the EU proposed a limit on subsidies to larger land owners. Guess which country voted against? Yep, that's correct..the UK!

savageseptember.bsky.social•101 days ago

I think we all ran out of small violins on this issue. Is anyone selling small trombones? Asking for a friend.

jamesnoo.bsky.social•101 days ago

📌

ruarisk.bsky.social•101 days ago

📌

zbris.bsky.social•101 days ago

How many children of farmers want to farm anyway and what about people whose parents aren’t farmers who would like to farm? It’s not awful if these big estates are broken up is it? - they’d still be farms.

serendipitysmith.bsky.social•101 days ago

I can't believe more people haven't said this. What percentage of farmers are leaving their farms to offspring who want to continue farming? I find it very hard to believe it's a huge percentage.

zbris.bsky.social•101 days ago

I don’t know but my impression was lots of people don’t want to carry on with it. They’ll inherit the land and lease it to someone else to work. Seems a bit unfair to me.

serendipitysmith.bsky.social•101 days ago

Or sell it. I have no idea why ordinary people who will pay full IHT are standing up for people getting a huge tax break.

suew.bsky.social•101 days ago

People have been saying, but the predominantly rightwing press in this country aren't paying attention because they serve their rightwing political handlers.

neilwhalley.bsky.social•101 days ago

Did you see Fiona Bruce tell audience member that his parents are unlikely to live for 7 years. Fairly cringe

rhid83.bsky.social•101 days ago

Quel suprise!

happyinyorks.bsky.social•97 days ago

Precisely. The public have been deliberately misinformed.

srobbo43.bsky.social•101 days ago

Yep this seems to do the trick!

richardascott.bsky.social•101 days ago

Not the same thing at all.

Do you understand what return on capital employed is and what this typically is for a small family farming business ?

alexvv.bsky.social•101 days ago

What size is a 'small family farm?'

jamessh0000.bsky.social•101 days ago

As millionaires force up the price of land, ROCE will fall as the value of the asset increases. If the land has been passed down tax free for generations, the capital employed cost won't reflect the true figure

srobbo43.bsky.social•101 days ago

Happy to admit I don't, but I do understand 20% & not the normal 40% on every £1 over a £3m threshold

serendipitysmith.bsky.social•101 days ago

With 10 years to pay.

meet-cleaver.bsky.social•101 days ago

Interest free

emmabb.bsky.social•101 days ago

And the ROC on a domestic property?

susanglh.bsky.social•100 days ago

I absolutely agree with those two audience members. The sense of entitlement is worrying.

markindevon.bsky.social•101 days ago

These loopholes have taken land away from food production.

If you support farmers you'll want to see an end to this

johnbeans.bsky.social•101 days ago

I’d be in favour of ALL the money being raised by this initiative going straight back into incentives for sustainable food production and land management.
Support farming.
Help farmers.
Tax farm owners.
I’m sure it’s not that simple.
I’m also sure it’s not that difficult.

johnbeans.bsky.social•101 days ago

So potentially this is smart by the government:

Close a tax loophole ✅
Highlight the challenges farming is facing ✅
Do something else, to help, soon 🔲