From 2026, anyone inheriting farm assets worth over £1 million will have to pay 20% tax, interest free, over ten-years.
For farmers, it's "the straw that broke the camels back"
For farmers, it's "the straw that broke the camels back"
Comments
Charles Windsor is laughing all the way to the bank at taxpayers expense, yet again...
And good to see you giving a platform for conspiracy crazies without redress…
It seems a reasonable policy, but can't help thinking there'll be loopholes that wealthy can exploit, more easily than genuine family farms.
But that's not going to stop the red meat throwers.
And this new tax will be savage on the children of already widowed or divorced farmers
A farmer these days is as likely to require a pre-nup agreement as a pop star! (Farmers, if anything, have a higher divorce rate than the UK average of 42%)
Shout out to all those minimum paid workers who got a rise in the budget 👏
Cry me a river
Fact check please.
They were lied to over Brexit and that’s where there real problems start.
Until someone comes in and explains why that is unfair, I am afraid I have little sympathy.
Maths not my strong point but pretty sure this is right?
Each deceased farmer will have a £1 million allowance for farm assets
Then like us lesser mortals they'll each have:
£325k IHT nil rate band
Up to £175k residence NRB if left to children or grandcildren
So inheritor can get £1.5 million from each parent & pay Diddly Squat IHT
Farmers voted for Brexit
Brexit has cost over £100 Billions
Brexit took away our Freedoms to Work, and Live in the EU for us 'Non-Farmers'
Karma can be tragic