The People's Forum: I read a farmer complaining

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I read a farmer complaining

Posted by Col

on October 31, 2024, 4:41 pm, in reply to "From what I’ve seen so far"

a 'small' farmer apparently, livid that he has to pay potentially 600k inheritance tax, when he gets his hands on his dads 4mil+ farm

apparently no one understands that its unfair to make farmers pay inheritance tax

Responses

Dan Neidle has a good explainer in Twitter - Tweeds October 31, 2024, 8:14 pm
I genuinely had no idea farms were exempt from IHT! - Ov October 31, 2024, 6:05 pm
I get that, sort of - Beechside October 31, 2024, 5:29 pm
- But that happens to others - Col October 31, 2024, 5:45 pm
  - The farmer’s position is nonsense unless he’s against all inheritance tax. He probably is., mind. - HansSegers October 31, 2024, 6:14 pm
    - You can sell part of a portfolio. If you sell part of your farm the remainder might not be viable - Paulo* October 31, 2024, 6:28 pm
      - If 3.4 m farms aren’t viable and 4m farms are, there are solutions other than exempting rich farmers - HansSegers October 31, 2024, 10:50 pm
        
        "If he can earn enough to pay the tax he can keep the farm. I don’t see the issue really" - RobK November 1, 2024, 12:23 am
        
        Four of my uncles are farmers, and I spent half my youth on a farm. - HansSegers November 1, 2024, 2:39 am
        
        As dpl posted, there's a national interest in maintaining farms as active farms - Paulo* October 31, 2024, 11:41 pm
        
        that's spot on. Most family farms have "assets" way above the £1m but are not cash rich ... - RobK November 1, 2024, 12:15 am
        
        Sure. But there are plenty of underemployed young farmers. Why privilege a rich family? (nt) - HansSegers November 1, 2024, 12:02 am
      - when all the farmers have - dpl October 31, 2024, 6:55 pm
  - But farmer are (hard) working people. Nt - NYCblue October 31, 2024, 6:01 pm
    - Would there be a way to keep the exemption - Chris78 October 31, 2024, 6:11 pm
      - Isn't that the case anyway? - NYCblue October 31, 2024, 7:04 pm
- probably end up with a lot of family farms being sold - dpl October 31, 2024, 5:36 pm

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