🔴The Powerful Interests Fighting Jeremy Clarkson’s Countryside Culture War to Avoid Inheritance Tax Lobby groups are whipping up fears about Labour’s inheritance tax reforms despite figures suggesting the vast majority of UK farms will be unaffected bylinetimes.com/2024/11/01/t... - ThreadSky

bylinetimes.bsky.social • 96 days ago

🔴The Powerful Interests Fighting Jeremy Clarkson’s Countryside Culture War to Avoid Inheritance Tax

Lobby groups are whipping up fears about Labour’s inheritance tax reforms despite figures suggesting the vast majority of UK farms will be unaffected

https://bylinetimes.com/2024/11/01/the-powerful-interests-fighting-a-countryside-culture-war-to-avoid-inheritance-tax/

Comments

neil3236.bsky.social•96 days ago

We all know the rich have been buying up farms. It was a loophole that needed shutting. It only affects farms worth more than 1 million. My father's house and business are worth a similar amount, so our family will be paying inheritance tax.

sallyl.bsky.social•96 days ago

Actually, if the owners are a couple, the exemption is £3 million!

neil3236.bsky.social•96 days ago

I just heard that on Sky News. I'm really not sure why a farmer should be any different from any other person/business.

sallyl.bsky.social•96 days ago

I suppose because we do need to protect our food producers. The govt has, however, specifically excluded the small farmers from these IHT rises. Russia has serious shortages of butter and potatoes now, because their farmers have been conscripted and killed!
These 👇🏽are the target group.

neil3236.bsky.social•96 days ago

I do agree that protecting the smaller farms has to be a priority. I guess the tax is aimed at those the government believes can afford it. Billionaires buying farms has led us here. That's the issue that really needs addressing

sallyl.bsky.social•96 days ago

Yes. Nail on the head.

maxima-infinity.bsky.social•96 days ago

https://bsky.app/profile/maxima-infinity.bsky.social/post/3lbc4hllu5s22

maxima-infinity.bsky.social•96 days ago

https://bsky.app/profile/maxima-infinity.bsky.social/post/3lbc5h4hajc22

sir-papillon.bsky.social•96 days ago

👇

janecelliott.bsky.social•96 days ago

I’ve been trying to talk to some of them on the Farmers Weekly Facebook page. They are being fed lies, just as they were about Brexit.

theresa-4815162342.bsky.social•96 days ago

If only Clarkson had kept his fat stupid mouth shut!!

anniedorset.bsky.social•96 days ago

The BBC getting firmly on the bandwagon this morning.

spark3s.bsky.social•96 days ago

GMB as well

paulriver.bsky.social•96 days ago

Labour could start with removing the Tories at the head of the BBC. I don’t get why they haven’t acted.

sylvanartifex.bsky.social•96 days ago

Cowardice. Same reason they haven't banned foreign ownership of our media.

paulriver.bsky.social•96 days ago

Why cowardice? I think, they are waiting for things to get better, then the media will get behind them. That is a mistake and will continue to back fire.

dezza2542.bsky.social•96 days ago

And the ones renting their farmland off wealthy landowners aren`t going to oppose the protest, even though the policy won`t affect them.

kellydog25.bsky.social•96 days ago

Most of the big landlord farmers are in the HOL ,they are going to protest.

denistheman.bsky.social•96 days ago

On average 3m would buy 300 acres or about 125 hectares. There are just over 200,000 "farms" in UK
Farm Size (Hectares)
Number of Farms (thousands)
Under 20..... 105
20 to 50...... 52
50 to 125...... 49
Over 125..... 3
Then factor in tax planning and this tax will raise diddly squat

denistheman.bsky.social•96 days ago

So actually this wonderful new tax arousing so much uproar is likely to raise diddly squat... unless the rules on tax planning trusts etc and the 3m threshold become gradually tighter... so do the few thousand, maybe just a few hundred in reality who may get caught fear the thin edge of the wedge

denistheman.bsky.social•96 days ago

Or is it faux outrage, masterminded by the right wing media, coupled with a Labour govt making what seems a radical change that actually will raise nix. If so it's another misstep by Starmers team

farmergareth.bsky.social•96 days ago

I don't remember the farmers protesting when they voted for Brexit to decimate their market, or when the Tories didn't replace their subsidies. But they seem to be very upset now the wealthiest of landowners cant use it as a tax break. Almost like the rich and powerful are using the farmers again.

suesymcox.bsky.social•96 days ago

Exactly!

bantamjo.bsky.social•96 days ago

Farmers wouldn't need to protest if they were paid fair prices for their products. A decent wage/income for managing and working the land would mean them capable of paying taxes like everyone else. This isn't just about inheritance tax.

sylvanartifex.bsky.social•96 days ago

Why aren't they picketing tescos then?

bantamjo.bsky.social•96 days ago

It's a culmination of things. This latest budget is the one that broke the camels back. They want the government to help them tackle supermarkets, grants, staffing etc

chriswesthead.bsky.social•96 days ago

This tax issue is grossly distorted. According to HMRC under the new rules, 462 farms would be affected by the 20% tax on any value above £1m (not on the whole value). 345 valued between £1m and £2.5m, 80 at £2.5m to £5m and 37 above £5m. It's generous if anything but don't let facts get in the way.

jeffers2010.bsky.social•96 days ago

If the 1% affected are so unhappy with 20% over 10 years, maybe it should be reviewed and levelled up to 40% payable immediately?

robpinkham.bsky.social•96 days ago

Given that the rest of us help to fund farming from our taxes I can’t help being a little annoyed at those miles of billboards supporting the Tories and Brexit on the land we paid for.

sallyl.bsky.social•96 days ago

From a genuine expert:👇🏽

cathynarcaware.bsky.social•96 days ago

Land lords

https://bsky.app/profile/clairesimone.bsky.social/post/3lbbxmjw5ek2e

jimmbuzz.bsky.social•96 days ago

Many super wealthy bought farms as tax avoidance schemes.
These are the people affected by this move, not the ordinary farmer.

danishpm.bsky.social•96 days ago

Are you a ‘Labour supporter’ @danneidle.bsky.social I was sure you just pointed out the tax implications based on your knowledge?

xpiotras.bsky.social•96 days ago

The left and their fighting arm, the Labour party, have only one enemy: middle class. Farmers, pensioners, hard working people who don't rely on benefits - this government hates you.

euanmcturk.bsky.social•96 days ago

Farmers voted for Brexit, Brexit damaged trade and our economy. We now need to raise money to plug the hole. The few farmers this will effect can suck it up.

nickhollinghurst.bsky.social•96 days ago

Could we suggest special concessions for Hill Farms?

sallyl.bsky.social•96 days ago

How many hill farms are worth more than £3 million? (£2 million if it's a sole farmer, not a couple) - that is already a concession that probably covers all hill farms.

okboomer69.bsky.social•96 days ago

📌

gunweary.bsky.social•96 days ago

Anything involving Clarkson makes me want to reach for the metaphorical revolver

sablonneux-2024.bsky.social•96 days ago

My late father was an estate manager. He increased profits every year noticeably. He asked for a raise. Was told times were hard, no money etc ( the farmers' theme tune). He laughed, adding ' you're forgetting I do all the books' He got a begrudged raise.

Lobby groups get no sympathy from me.

ianwinstanley.bsky.social•96 days ago

This is Brexit all over again. The rich are threatened, so they round up all their RW media to whip up a frenzy to convince those that won't be affected that they will be!

grumpybrit.bsky.social•96 days ago

Time to make retractions and corrections to articles occupy the same font, page and media space of the original article. Perhaps editors might think twice about posting lies and stretching the truth if they have to lose a front page to eating humble pie.

charley62.bsky.social•96 days ago

It will be the smaller, real family farms that will be affected. They will be forced to sell to a faceless entity that will have no emotional ties to the land.

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