Only the richest 4% of people pay Inheritance Tax. Only the richest 1.5% of farmers will pay HALF Inheritance Tax spread over 10 years. This is a protest funded by the obscenely wealthy who want to pay no tax at all. - ThreadSky

bladeofthes.bsky.social • 164 days ago

Only the richest 4% of people pay Inheritance Tax.

Only the richest 1.5% of farmers will pay HALF Inheritance Tax spread over 10 years.

This is a protest funded by the obscenely wealthy who want to pay no tax at all.

Comments

merlin-magwitch7.bsky.social•163 days ago

A lot of the wealthier farmers and estates have their land owned by a trust and avoid tax that way

trfc69.bsky.social•164 days ago

Exactly but the uk media spread disinformation on both Tory shills

fliprekrap.bsky.social•163 days ago

The "richest" are the most effective welfare sponges.

I know many welfare queens who don't work, they're just not as effective as the "lords" and aristocracy or tories.

icabojo.bsky.social•163 days ago

Maybe the rich landowners are funding the protest but the headline is just a fraction https://unherd.com/2024/11/a-farmers-revolt-is-coming/ a read if you want to know why the farming community is protesting really.
https://unherd.com/2024/11/a-farmers-revolt-is-coming/

aitch-aitch.bsky.social•163 days ago

IHT was just the last straw

robeds.bsky.social•163 days ago

Informative article ✔️

drfn.bsky.social•163 days ago

The premise is simple either no inheritance tax at all. ( there can be a discussion there) or an inheritance tax on everyone above a certain threshold. Why should farmers be exempt. Millionaires were using it as a loophole which is now closed so what’s the protest about?

pos1tive3nergy.bsky.social•159 days ago

If the rich really don't like paying tax, why don't they all sod off to places where they don't pay tax and let everyone else continue to pay taxes, in return for the benefits and services they provide.

nicnacb.bsky.social•163 days ago

Ah yay, found another treasured Twitter follower. Hellooo.
I'm on a hunt, just joined.
And yes, quite correct on farmers.

dereksibling.bsky.social•164 days ago

A load of greedy, tory, brexiteer scumbags who all started moaning after they lost the EU subsidies despite having voted for it.

They produce poor quality garbage compared to other countries, use as many chemicals as possible, rip out the hedges, kill stuff for fun... Bunch of complete wrong'uns.

binkyhargreaves.bsky.social•163 days ago

If this gets the rich squealing, it must be doing its job

anditassou.bsky.social•164 days ago

It's the obvious truth. The more the rich protest, the more I like it.
Tesco, Sainsbury, M+S with the NI can bugger off too.

richcoxon.bsky.social•161 days ago

You won't like it when these hardworking people sell up and huge corporations buy the land, not farm it while rinsing the subsidies. The result is the price of food goes up, the quality drops and everyone suffers (apart from the very wealthy).

anditassou.bsky.social•161 days ago

We are all hardworking mate, those lucky enough to fall into inheritance tax have to sell family homes now.
Everyone is asset rich and cash poor too.

richcoxon.bsky.social•160 days ago

It's one thing having to sell a house worth over a million pounds to pay off a proportion of inheritance tax, it's quite another when you are having to sell of a large part of a business within a critical industry. Do you not like food grown in the UK?

anditassou.bsky.social•161 days ago

It's the fact that for the last 10 years huge corporations and foreign govts and the likes of Hunt, Clarkson and Dyson have bought 1000s of acres that has pushed the price up now. Only 44% of land sold was sold to farmers in the last decade, anyway.

richcoxon.bsky.social•160 days ago

And the new inheritance tax laws will allow them to buy more of that land at cheaper prices. They will avoid paying inheritance tax through corporations and trusts. None of which are possible as this tax change has blindsided the farming industry.

anditassou.bsky.social•161 days ago

Why can't the few that this applies too pass it on to their children now? This doesn't even come in until Apr 26, and the tapering 7 year rule applies.

richcoxon.bsky.social•160 days ago

You're right, this will only raise funds from a small number of farmers who die after April 2026 and don't live past October 2031. It almost as if the policy is design to raise a lot of money for the next few years. Unfortunately we will still pay the cost in increased food prices and a lower GDP.

bluepetergeorge.bsky.social•164 days ago

Surely farmers have lost far more than they will pay in IHT by voting for Brexit?

andrewbowdensmith.bsky.social•163 days ago

The Farmer Brexit vote is extremely over estimated

bluepetergeorge.bsky.social•163 days ago

So is the impact of IHT

andrewbowdensmith.bsky.social•163 days ago

Yes, but there is no need to conflate the two. The reform of Agricultural IHT relief should not be framed as punishment for imagined Brexit sympathy.

francambrian.bsky.social•163 days ago

I was literally arguing this the other night with a young farmer woman, I wanted to know why she wasn't out protesting my daughter's chances of working in the EU being dramatically reduced.

utter-hogwash.bsky.social•163 days ago

One might call them the vocal minority

roxy62.bsky.social•162 days ago

Getting plenty of biased BBC reporting. Everyone needs to pay taxes, otherwise there will be no hope for the young! If you agree please follow.

olwenmcg.bsky.social•163 days ago

It ought to be called Landowners' Tax but I guess that would be too honest.

ilikecaketoo.bsky.social•163 days ago

Exactly. The fact that Dyson flounced off abroad with majority of his business, but left his land for tax reasons, says it all. They just don’t like the fact they *might* have to put their hands in their pocket now.

twogsds.bsky.social•163 days ago

Par for the course naturally of these greedy, pathetic people.

talismanbassman.bsky.social•163 days ago

It’s always versions of this- the very rich persuading the hard up to blame the poorest for them not having enough of something.

hadleyac.bsky.social•157 days ago

As was Brexit by the offshore tax evaders

rationalranter.bsky.social•164 days ago

I can quite effortlessly say "fuck them".

thefordprefect.bsky.social•162 days ago

I am in agreement that people using farming to money launder should be hit really hard BUT real farmers do not pass on farms with millions in cash - the money is calculated on land etc. prices. So they will have to find a source of CASH for the inheritance tax - sell land? not ideal?

jocktamsonsbairn.bsky.social•164 days ago

Guess who write the laws….It reminds me of a line from one of the Stranglers songs - “Only the children of the wealthy can afford to be good looking”. I have deliberately left out the f word.

iainmay.bsky.social•163 days ago

The ancestors of these large estates benefited from the theft of common land from the people who lived there under the enclosure act in 18th Century and forced them into cities to be exploited by the new industrialists. It’s payback time.

bwildered.bsky.social•163 days ago

THIS

kazkatbro.bsky.social•164 days ago

Not true, anything over 324,000 you pay. That's basically a 2 up, 2 down in southern cities. More and more ordinary people are paying it.

m-zola.bsky.social•163 days ago

That's not for agriculture IHT

kazkatbro.bsky.social•163 days ago

No, that's for ordinary people in the UK. the rich pay nowt.

m-zola.bsky.social•163 days ago

Yes I know that is ordinary people IHT but the point in the original post was about agriculture tax (which are not the numbers you posted up).. yes for standard IHT those are the numbers but for farm land it's different.

mcreek.bsky.social•163 days ago

I often submit claims for taxable estates, very ordinary people having to pay IHT @ 40%, single, no children, NRB of £325k only, RNRB zero entitlement as no lineal descendants, so yes, it’s easy to fall into that bracket in the south particularly.

stothy.bsky.social•163 days ago

What gives farmers the right to special tax status 🤷 the whining seems to be coming from hobby farmers trying to avoid paying a fair amount if tax. Tough!!

helenrushby1.bsky.social•163 days ago

And most of these huge landowners have bought up small farms over the last couple of decades to avoid paying tax. People such as Dyson who owns large chunks of Lincolnshire, and Clarkson. Meanwhile many small family farms cannot make a living with them as competitors.

megsenmumdr.bsky.social•164 days ago

I don’t understand why Farmers pay no inheritance tax in the first place

And if they are exempt why are others not, especially those who have worked hard to make their wealth & not been handed vast amount of land & no mortgage to pay etc

richcoxon.bsky.social•161 days ago

The main reason is food security. The other reason is that most farmers simply cannot afford to pay it. All farmers would be better off to sell up and live off the interest, thankfully they don't!

megsenmumdr.bsky.social•160 days ago

How many landowners subject to IHT are farming themselves to produce the food?
Many people who inherit assets cannot pay IHT without selling it-I thought that was the point of IHT(not saying I agree with IHT in principle) I don’t think millionaire farmers should be exempt from taxes what others pay

richcoxon.bsky.social•160 days ago

The average farm is valued at over £3 million when the land and farming assets are combined. This will affect most farmers. Sadly this policy comes at the expense of UK food security. The wealthy will use trusts to avoid the tax. All this will do is increase the cost of living further.

flintcams.bsky.social•164 days ago

They should go and live in America

cns46z.bsky.social•164 days ago

A lot of wealthy “farmers” spent years getting subsidies that were meant to go to real farmers not multi acre estates used for the shooting industry - they were conning the system under the guise of “farming years ago
We have to pay, why shouldn’t they, it won’t affect most farms

atheist-pizza.bsky.social•164 days ago

Trump ran to cut his own taxes now quite possibly he will try to turn government upside down so people will think solutions lie elsewhere. The sedition and snake oil selling continues.

rightarmover.bsky.social•163 days ago

Just shows how people are like sheep, and keep doffing their caps to their superiors.

socialistleft.bsky.social•163 days ago

I think so-called journalists should be paid average workers' pay .They stick these faces on our screens, who have lots of cash laying around . We don't know what they invest in if they have their own land and how the news affects them to what extent.

geordiekakamora.bsky.social•163 days ago

Imagine the disruption to our food supplies if they're all locked up for blocking the traffic.

Very irresponsible of them.

sirkathypearson.bsky.social•163 days ago

My old mum is ex farming community. She’s always said there’s no such thing as a poor farmer. Solar farms & housing developments have replaced putting food on our nation’s tables round my patch of England’s green & pleasant & with new gov targets, councils desperate so approving everything anywhere.

davemac1112.bsky.social•163 days ago

And it’s just a coincidence that 98% of farmers have always voted Tory, strange that 🤔

robinoverhere.bsky.social•161 days ago

So I’m on here now…but is there a risk of echo chambers (obviously) do we need to be challenged?? I can’t decide if this is a good thing or not???

mc-stotty.bsky.social•164 days ago

The sad thing is, I know farmers who are jumping all over this on Facebook, there's no way it impacts them personally.

sneakyvixen.bsky.social•163 days ago

Just this really (credit unknown)

stevesnell.bsky.social•163 days ago

Makes a change the rich protesting, most skint people, have had to do it for the last 14 years.

gigsandgrounds.bsky.social•164 days ago

And there's a perfect example of misrepresentation by most of the media. To those who don't dig deeper, this appears to be an attack on the entire farming community and is born of envy. Keep educating us!

r1tch.bsky.social•163 days ago

56% of agricultural land sold last year went to investors not farmers. This is a fake Tory campaign to protect the mega rich landowners using regular farmers as a foil. Sky, BBC, even ITV are complicit in the smokescreen.

devilsdandruff.bsky.social•164 days ago

💯

richcoxon.bsky.social•161 days ago

Do you mean it's 100% made up?

devilsdandruff.bsky.social•161 days ago

💯 agree with his post

bleatin.bsky.social•164 days ago

Benefit scroungers pure and simple

bleatin.bsky.social•164 days ago

I KNOW LET"S EXPORT THE LOT OF THEM TO RWANDA

debatingroom.bsky.social•162 days ago

If agricultural land wasn't exploited as a means of avoiding tax, it would bring the value of land down.

Current prices restrict small family farms from expanding as well as pricing out people who want to start farming or who currently rent agricultural land...

debatingroom.bsky.social•162 days ago

In turn, this would also reduce the number of farms eligible to pay inheritance tax.

A reduction in the price of agricultural land would actually benefit most small farms. But you can guarantee the voices of those farmers won't be heard.

tazsaints42.bsky.social•163 days ago

Not necessarily true! My dad is not one of those, but his house (bought in 1979) will be liable for inheritance tax. It is a 4 bedroom detached house, not in a posh area either!

bruja1.bsky.social•163 days ago

For me,Its the same as taxing private school fees.
There are more pressing issues to worry about in our country at present. Eg - children in our country starving, homeless, NHS etc.

kian2002.bsky.social•163 days ago

Most farmers would've already contacted their accountants for details on how to best plan to avoid any tax liability, following the Budget. So these fumes & furies from [some] farmers are just political theatre; the Prime Minister knows this because I'm sure he's been reading the Comms for impact?

soph0517.bsky.social•163 days ago

I am privileged enough to have to pay inheritance tax one day. Not losing any sleep over it cause I am privileged enough to have to pay inheritance tax one day.

atacms4ukraine.bsky.social•163 days ago

95% of World riches belong to just 5% of population not exactly optimal for the rest of us 95% struggling to survive. Now wait & see how #FatElvis will screw the 95% more & you voted for the sex offending crooked racist it's on you watch to see how bad it will get hate to say but told you so!!!

colinchester.bsky.social•163 days ago

Yes, fuck me what's the answer?

yatesey1.bsky.social•164 days ago

Good to see you're here speaking truth 👌

sarkysodryan.bsky.social•163 days ago

Glad I've found you here!
Followed like in the other place 🤣

justiceseer.bsky.social•163 days ago

Absolutely! WHY is it that the #FilthyRich are the most SELFISH, MONEY-GRUBBERS on earth - whose #Greed is NEVER satiated?🤑

And yet the #Poorest, who have nothing - are ALWAYS the kindest and most generous?😇

#UpsideDownWorld!

waltontiger.bsky.social•163 days ago

You don’t get it by spending it…
And the biblical…

Mark 12:41-44

The Widow’s Offering
But a poor widow came and put in two very small copper coins, worth only a few cents.

richcoxon.bsky.social•161 days ago

What a load of rubbish! Where do you get 1.5% from? Making up fake stats is a very dishonest way of spreading propaganda.

elaino.bsky.social•163 days ago

Can we possibly rename this a ‘landowner tax’? Far less incendiary.

andrewblueskies.bsky.social•164 days ago

It seems to me, the only farmers complaining about the IHT changes are the ones who will, inevitably, die and, as a result will not be paying anything. I've yet to hear of inheritors complaining about the increase in IHT.

fubaratbirth.bsky.social•164 days ago

So no change then

The rich want it all as usual and will say and lie anything to get or keep it.

Meanwhile fuck everybody else.

waltontiger.bsky.social•164 days ago

Time for Dyson to suck it up…

ktebailey.bsky.social•164 days ago

They have actually stated that's why they bought land so they can pay nothing!!

richcoxon.bsky.social•161 days ago

That is not true for the vast majority of farmers.

mindfulmusings.bsky.social•164 days ago

I thought it was the protest of Reform MP and "everyday farmer" Rupert Lowe—the man with at least £910,000 in shares who also sits as a director of a holding company, two data companies, and a pharmaceutical business.

https://www.theyworkforyou.com/mp/26361/rupert_lowe/great_yarmouth/register

clonea.bsky.social•163 days ago

Yep

petelowe-exx.bsky.social•164 days ago

They have just been fed lies by the MSM, same as the lies about Brexit. You’d have thought they’d understand by now.

frenchkeith.bsky.social•163 days ago

Always useful if you can quote the sources of your statistics.

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