@AppNetEnt Many family farms are not extremely wealthy. They are land rich, the land which grows our food. As ever it's neither the very rich nor the very poor who will be affected but those in the middle
Because its theirs, not ours. If people earn enough to become rich good on them. Why on earth should they pay so much more just because they've done well. It's pure envy.
@@TheRuthdobson No the rich just have to pay their fair share. It not unfair to be expected to pay your fair share of taxes. I thinks it should be 40% inheritance tax so it’s the same across the board.
Farmers don't want handouts. They want to work the land, get fairly paid for what they produce and not be robbed of their way of life so their land can be used to house illegal immigrants.
And??? He earned his money, paid tax, brought a farm so why should he and all the others farmers pay more tax? No farmers no food, just want they want, us eating bugs and lab grown meat. Fools
@@Lynnpjjbdndji Wrong, the estate is taxed not the recipient and tax has to be paid before any beneficiaries receive. It’s a tax on your estate on death. At least research before commenting!
Speaking of Brexit, I remember Boris Johnson moronically boasting about how good it will be for British farmers to compete with the imports of cheaper meat from abroad via new trade deals. Anyone who disagreed with him and correctly pointed out that British farmers do not need more competition as it will decrease their income was called "unpatriotic" and Johnson claimed they didn't have faith in our farmers.
The problem with that is that the advantage of being able to cut regulations to make it more profitable so British farmers can compete has never been capitalised upon. Same goes with the energy market.
bollocks, give me 10 examples then. and on farms with grade 2 and above soils, not grassland farms because you cannot grow root crops or cereals on that land.
If that's the case, tax them, NOT the small independent farmers. But of course, they won't do that, because this isn't about getting money from tax, it's something far greater.
This has been going on for years and years. It's called land banking. Buy a farm, rent it out to an actual farmer, and watch the value of the land go up and up while you do nothing. Then pay no tax. It's just not fair.
I watched because Owen was on the panel but usually the top three who I switch over when they are on are Carole Malone, Mike Parry and Angela Epstein. Some of the right wingers are reasonable and a sensible discussion ensues but I will not watch it when these three are on. Mathew Wright was the best host of the programme.
The three you list are the gutter trash of journos.....I always thought Gove and Bojo gave the fourth estate a bad smell. But the three listed are the scrapings of the barrel. Don't give them air time. But then Jeremy Vile isn't that much better, definitely a right wing whinger!!!
@@chris.bcfc.keeprighton.5685 Clarkson by his own definition is a tax dodger, buying farm land to avoid paying tax. Why should the poorest people support those worth millions. When 14 years of austerity has meant paying bills or 3 meals a day and keeping warm.
@@shaunjp2211 What's that got to do with generations of farmers. This isn't about Clarkson, he's just a high profile person on the side of the farmers, because he owns a farm.
@Steve-s8k Clarkson and Dyson are examples of people buying up land as a massive tax dodge I had to pay 40 % inheritance tax, so why shouldn't farmers pay 20 % over 3 Million paid over 10 yrs
I have plenty friends that are farmers and their farm was passed down to them as soon as legally able. Age 16 I think for my friend a couple of decades ago. Farmers don't wait until they retirement to sign it over as that would just be a unnecessary gamble
I wish I grew up on a farm and inherited it for nothing instead of growing up in a tiny semi in a dead end town with no green spaces or entertainment amenities or job prospects. The tax is a lot more generous than a normal person gets. So they are already getting a much better deal. I think it’s pretty fair imo.
So many bots arguing for scrapping inheritance tax which doesn't even affect the majority of Brits as hardly any of us are holding onto assets worth anything like mega estates in this country. Makes you wonder what the angle is, and for who, eh?
I'm an engineer, I contribute to this country I don't get an exemption. Owning land is about CLASS in this country - wealth always came from the landed the LANDED GENTRY - and they always had special exemptions. You can be a farmer and not own any land - tenant farmer or be a land owner and not farm personally - being a land owner with tenant farmers. No exemptions for wealthy people.
Yes many farms maybe landed gentry, but go to thousands of farms and watch the farmers slogging away a hundred hours a week in the rain and mud, mucking out the cows and then tell me they're landed gentry.
Incredible that Angela's argument actually had nothing to do with farmers and the country's food supply at all but was just whining that rich people aren't actually rich and shouldn't be taxed. Good grief
The only time I remember food shelves being bare was... after farmers and others voted to leave the EU. We had to rely on U.K. produce and- bare shelves.
The only shelves that were bare was with foods like tomatoes and the like that don’t grow in the UK climate. No shortage of beef, milk, bread, potatoes and the like that is grown in this country.
@@alanwilkinson7592 No shortage of milk? That's why some stores had 'one bottle per shopper'? Waitrose had "its cap on all fresh food, so meat, fish, poultry and other fresh goods (...) Asda is removing limits on fruit and vegetables and chilled products. Tesco, Sainsbury's and Co-op are not changing their policies on restrictions at the moment." Also "our grocery stores, (...) shoppers panic-buying toilet paper, water, rice, beans, pasta, BREAD and frozen foods" (My capitalisation) The main overload was potatoes as restaurants closed!
Making farmers have to sell off sections of land will only increase people using farm land as an IHT loophole. (all be it under the 1m value) It would also open up the land being owned by people who wont use the land in a way that benefits the country. If a farmer sells a large plot of land then a purchaser will get planning permission to build a farmhouse there! Just an excuse for wealthy City workers to commute in from the countryside.
@@trevorhart545 but their not are they? Or have I misheard the budget. You said, everyone so I presume you meant future tense of something that doesn’t exist yet, or ever.
Farmers who actually farm and produce should be put up on a pedestal like the NHS they feed the UK ffs Give them these benefits. It is not hard to see which farms are working farms and which are not, benefit the working farms and penalize the rest.
@bwilliamson3887 prefer to be protesting something that won't affect 90% of them rather than work. They go to bed very early and sleep more than most. Lazy.
Just spare a moment and let me remind you of two very important facts which has resulted in the present issues with farmers, and just why they are piddled off with Britains Governments. When we left the EU the Brexit campaign told farmers that 100% they would keep their subsidies, Boris Johnson, who does not have a good relationship with the truth, also said the same. The National Farmers Union council was overwhelmingly in support of "Remain" but decided not to campaign, as it would upset some of their larger farmers, also Michael Gove ran around 'promising the earth' to farmers and many enviromental groups were supportive. But their plans fell on deaf ears.
very true majority of large farms (80%) voted for Brexit while the smaller, family owned were against. The result is that the small ones are screwed and big ones are getting bigger and bigger. Clarckson leading a protest: sad joke.
@00corwin00 Are you sure about that? I thought it was the other way round. The big arable operations in the Fens were certainly not keen on Brexit. They wanted access to the single market, eastern European labour and the EU farm policy
Until 1984 the farmers paid inheritance tax at the same rate as everyone else that was elegible for that tax, and we weren't starving. They're now being asked to pay half of the going rate of inheritance tax.
@frankpaterson9786 Are all other circumstances exactly the same as they were in 1984? No. The IHT relief was brought about to address a problem. Land value is many, many times higher now, as is housing...disproportionately so compared to incomes. Food is comparatively cheaper as a proportion of our income now compared to 1984 as well.
Farming was more lucrative years ago. A farmer could raise 6-8 children with a wife on 12 cows, some chickens and pigs. Now farming is the least profitable industry for the investment put in.
@@jamesthomas4841 British government are not subsidising farmers. They used to get them while we were EU members and then lost it when the Tories broke their promise to subsidise them when we left the EU
My dad died in a care hame any money he received from selling his house went in care home fees leaving nothing to pass on to me of my sister or his grand children honestly if they have to sell a farm to pay inheritance tax boo hoo we would have loved to pay tax on any inheritance over 3 million
So there was no inheritance tax before the eu? Last time I checked all the rich western countries in Europe have had farmers protests. You not remember the Dutch government backing down to them? Did they vote for brexit too?
People like James Dyson and Jeremy Clarkson, who have bought land to avoid IHT, have driven up the price of land, thus depriving those who want to farm of buying land.
Farmers voted for Brexit and Austerity and are complaining that there's no money left and their profit margins are squeezed. You voted for it now you have to pay. Ironically the farmers will have to reap what they sowed.
Did they? I remember a very different story where the farmers were desperate to stay in to keep the eu subsidies. I've never been a fan of farmers but your gonna just say all the problems are caused by leaving the eu. You wake up at 1am in the morning and its all the fault of the brexiters. Your wolves howling at the moon.
No. Electricians, plumbers, buikdrrs all provide society with functions to keep us going as a nation. Every business or no business should be equal otherwise it is simply wrong. Farmers think they are special but every business is. Revoke ir35 it is destroying more businesses than farmers. Farmers have gotten away with being treated as lords of the land owning aristocracy for far too long and this is why they are asset rich. People are forced to sell family owned properties this is just the same.
"opinions aren't the same as evidence" Indeed! Might good to keep that in mind when addressing the entire country. There is obviously more interest in stirring up drama about Jeremy Clarkson and random hypotheticals with no basis in the fact that was admitted at the start of the show: the vast majority of farms will not be impacted by this tax
Farmers, Clarkson and private schools are exceptional and the normal tax rules shouldnt apply to them, basically. It's all Starmer's and not the Tories/Brexit's fault too, btw. Happy to clear that up for everyone. You're welcome.
According to the Who Owns England? project, less than 1% of the UK population owns about half of the land in England: Aristocracy and gentry: Own 30% of the land Corporations: Own 18% of the land Oligarchs and city bankers: Own 17% of the land Crown estates and the royal family: Own 1.4% of the land This totals 67% of English farmland that is owned by the most wealthiest individuals and groups both inside and out of the UK
@@Pixiedust8399 that’s right and with the average British farm standing at 266 acres at roughly £30k per acre plus house plus stocks you can clearly see that’s quite a few 20p’s!
It’s not just the really wealthy who will find a way. ANYONE can gift an asset (house, farm, or business) to the next generation and avoid paying the tax. They only have to survive for 7 years after the transfer.
@ agreed, but if you continue to benefit from it then it could be deemed to have been gifted after you died unless you paid a market price for the use. Also Labour are contemplating reducing from 7 years to 5 years ie reducing from 100% by 20% per annum over the 5 years, so could still be more expensive if you don’t survive the 5 years.
Clarkson talks sh!te. Always has. He wouldn't care if he hadn't bought a 1000 acre farm for £4.5m - admitting at the time it was t avoid Inheritance Tax. (Only 10% of farms in the country are 1,000 acres or larger)
What about multimillionaire farmers start paying their fair share of taxes? Elitist farmers own land worth millions of pounds so why should they be exempt? Clarkson said he bought a farm to avoid paying tax. Those assets could be sold to pay the tax right?
Nice to see you clipped out of the Clarkson interview the part where he was challenged on himself previously stating he only bought a farm to avoid inheritance tax and how he then ran away from Victoria when presented with receipts and challenged on numbers he was making up. Farmers being championed by the likes of Clarkson, Dyson and others does them no favours - especially as many are being misled on the realities which is that total allowances will be up to around 5m before any inheritance tax applied
Why doesn't somebody ask farmers if they use state schools, NHS,police, infrastructure etc and they find it hard to acess them isn't it because the last so called Govt used our taxes to lin the pockets of their cronies,at the expense of thiis country and now we as a country have got to pull together to get it .They voted brexit a d l9ok at that now 5hey are following self same people. Says some2 about farming community
It's sad really. We obviously need farmers and the land to be farmed. Farmers are getting conned, but not by the Govt or similar. You got millionaire Clarkson (owns 1000 acres, more than 90% of farmers) saying he's with them, having bought a farm as a tax dodge, but now says for shooting. An area the size of greater London (million acres+) is used for Grouse shooting in England: called a farm but just shooting! 20 Dukes own 1m+ (million) acres and these are the people who'll have to pay. Country land and Business association own over a third of land in England and Wales! Normal farmers aren't going to pay on inheritance when this tax loophole gets closed (according to the DFRA farmer survey 60% of farmers own less than 120 acres, so well under £3m) , but are getting played (again: Brexit!) by the very rich to do their work for them! Turf them out and the land will be freed up, cheaply, for actual, farmers and everyone (who's not rich) wins!
@@leataylor9845 Owen jones is a complete left wing socialist. he hates anyone making a decent living. if your happy for the government to take 40% of your hard earned estate which you have paid tax on all the way. when you pass then that's fine. I for one I'm not happy to pay it so they can use it to look after illegal immigrant's, Foreign aid and those that can not be arsed to work. i should be able to pass on 100% of my hard earned already tax wealth to my family.
@@michaelcowell727 who do you mean by they? any increased value wouldn't be returned to the state as it never belonged to them in the first place. it would be taken (stolen) from who it belongs. going on your suggestion why not just tax the profit at the standard tax rate of 20% then they are not taxing what has already been taxed.
@@barneyrubble8590 he will not be detrimental to "the society". He will be detrimental to "you", and quite evidently, he ALREADY IS being so even without being a leader (which gives him an enormously wider space to work in and with)! So, more power to him.
If farmers are that concerned about paying tax after they kick the bucket, either take out life insurance or put their farm into a trust like a lot of us 40% have to do. I'm sure they can trust those who will benefit 😉
Why just farmer. All IHT should scrapped its non sense tax which only harms UK economy. If I am know I am near the limit I will just invest it outside UK or keep it in bankaccount to transfer it to the kid.
Tax increases brought in by people who dont understand farming/business. The whole idea anyway of inheritance tax is abhorrent when people have paid tax, vat, ni thier whole life.
@alexfielding8411 that money has already been taxed though the government has no right to some of it. The government didn't pay the mortgage on the property or take any risks.
Yeah so make sure all the billionaires get to hoard the money and the poor can stay on benefits and our public services disappear forever. Brilliant idea. Where did you hear that one? Tory Party conference?
@@davidflood8881 Neither did the inheritors, they are receiving a tax free asset. There are very good reasons for inheritance tax, the level at which it is set is up for discussion.
"Last year, more agricultural land was bought by non-farmers than by farmers" How do they know this? How do they know who is wanting to become a farmer? If they do know then why isn't the tax aimed at those non-farmers?
@@gordoncharles741 Who said farmers don't pay their taxes? This is a new tax that will destroy many farmers. You think farmers are wealthy? Most barely break even. The assets might be worth a lot but since they're never liquidated they're irrelevant to their wealth. If you think farmers live in luxury go live on a farm for a week, then you'll think differently.
@@Dogfacedbloke It's NOT a new tax, it's a tax that everyone but wealthy landowners have to pay. They are only being asked to pay half the rate that any other taxpayer would have to pay and even then will still get generous exemptions. Major farm equipment, like tractors and combine harvesters are written off for tax purposes over 5 to 7 years even though modern versions of these will last 17 to 20 years.
The wealthy don't tend to work hard, they invest. Landlords of your average house rental do not work hard, they increase the cost to society, of having a roof over the heads of modest paid but hard working people, increasing property prices and rents. This cost to society has meant that the birth rate in the UK is now 1.49, meaning the previous governments, under johnson and sunak, imported more people to this country (around 4.5 million) in 4 years than 13 years of Labour governments from 1997 to 2010. Under the Labour government the UK was still in the EU and had free movement of people to contend with. The increase in immigrants to the UK has forced the house prices and rents up, exacerbating an already broken housing market and put too much pressure on an underfunded (in real terms) and broken NHS.
What are farmers? The new aristocracy? They shouldn't pay inheritance taxes because they're the new aristocracy? In any case, where is the magic law that says the children of farmers are going to be any good or even more productive than say, a recent graduate from agricultural college who would like to buy in to their career but can't because all these farms are being passed on?
We want farmers to keep farming and we want to stop the rich from dodging inheritance tax in farmland....... Can't the govt just take their share of farmland as their tax which they then rent back to the farmer's descendants at some peppercorn rental rate? Basically farmland should be near worthless, since it generates so little profit for what seems like a lot of effort. So it remains affordable for genuine farmers to grow their farms. Hell I'd go a bit further and say should planning permission be granted for development that a windfall levy be applied to reduce speculation/land banking.
Surely you can't be serious. The government owning all the land.......... whatever could go wrong? If you would actually take the time and study all that is going on, you would realise that it isn't about tax, it's about control and taking the land is what the government and the elite want, so the farmers would be playing right into their hands
Utter nonsense. The return on farming is less than 1% of the value of assets and land. There is no way they can pay it without selling off chunks that make it un economical
Well the issue is, rich are buying land from farmers, the land goes up in value then more land get purchased, the rich then do nothing with the land, but it keeps going up in value, there needs to cut the value of the land, this is a good way of doing this.
That's what they manipulate the books to show. Their main personal expenses are put through as business expenses. They also don't have mortgage liabilities and don't include their profits from other ventures. How else do most of them afford to drive premium vehicles, wear branded clothing and provide their children with passive income? But yes on paper they are just so very poor.
Over 1 million acres in England and many more millions in the Scottish Highlands are used for grouse shooting, that land shouldn't be permitted to be referred to as farmland.
@@sonofsomerset1695 Yeah so make sure all the billionaires get to hoard the money and the poor can stay on benefits and our public services disappear forever. Brilliant idea. Where did you hear that one? Tory Party conference?
You do realise there is tax on everything when you pass money on to someone else, be it gifts, inheritence or even paying an employee. Just because you've paid tax, that doesn't mean the person on the receiving end should be guaranteed a tax free hand off. Should nepotism be tax free?
Nurses, teachers, police, bricklayers, doctors post-people, public transport workers…anyone that works to benefit society should be given the same tax exemptions as farmers. Farmers should get different grades of exemptions depending on produce and who it provides for. The more local the better…provide hospital…care homes all these can be worked into a scale…if you have a farm that doesn’t produce…you can get exemptions for solar fields or wind fields. Right now all farms shock be have inheritance tax as high as everyone else.
So My Dad is 91 and my mother died 11 years ago. So Just 1 million allowance for the business (forget the £1m for the house). So 300 acres is worth £3m plus machinery and stock (£1m). So tax is on £4 less £1m allowance. So tax bill is £600,000. THE FARM EARNS £50,000 Per year!!!!!!! U N A F F O R D A B L E
Lots of children have to sell their beloved family homes to pay the 40% inheritance tax...why should farms be different? Sell off part of the farm to pay the £60k a year tax bill. Or sell it all and pocket more than £3m of INHERITANCE, never forgetting how lucky you are. I'm sick of the Nadhim Zahawi types thinking tax is for other people. We're all in this together! Having Clarkson as your spokesman won't win you any new friends.
Maybe he should pass onto his kids before he turned 91! If he gave it to them at 84 years old and carried on living/working on the land if he wanted to
@@daGobbo Sure, because we all know that farmers can see into the future and a) know that a government will suddenly and without warning change the inheritance rules and b) know with full certainty at 84 that they will still be alive at 91.
Clarkson is only interested in himself, on the video he's playing to a captive Audience of farmers ! that's all he's concerned with, also where ever he lives he upsets the locals!
Brexit and the supermarkets are to blame for their troubles and the rich arse holes who are buying farms to hand on there riches , Clarkson has 1000 acres 60 % of farms are less than 150 acres
Easy loophole here that farmers seem not to be taking advantage of. Don't include the assets on top of the land when you calculate the land worth. Why include a tractor or fencing as part of the land value? That will definitely mean you meet the threshold - be smart farmers not emotional ones. But I suspect the farmers fury is not about minimising their tax bill, because there are legal ways to do that. This is more about everyone now looking at the wealthiest in society and how they've been living comfortably off the misery of the working and middle classes for 20 years and their natural resistance to change.
ALL MISSING THE REAL POINT. The "BIG" Farmers will have accountants who will have everything tied up in Trusts. What Labour want is LAND for building Houses on. They want to encourage farmers to size downwards, sell land to developers for Labour to have builders to make New Towns, Villages or Estates. This is nothing more than a Lanmd Grab.
@@johnmulligan912 I've heard farmers on LBC saying they've had offer for part of their land for use with solar panels - money and cheap energy for the farmer! They chose not to sell part of their land. Chose. The tax loophole being closed won't effect their farm until a) they die and b) ten years after that.
I literally had to sit and listen to a whinny decendant of a farmer from Devon today complaining about how farming is not profitable - well that income tax mate Inheritance tax is on net assets of an estate - it doesn’t affect your income and profits But of course he would want to whine - he’s set to inherit land and farm houses tax free if he keeps pushing his “poor farmer” argument
It is perplexing that there has not been more scrutiny directed towards the banking sector - you can't eat money! There appears to be a lack of transparency from some members of the Conservative Party, particularly those aligned with the far right, including Liz Truss, who advocated for industrialized farming as they thought too many subsidies were given to small farmers. The prevalence of misinformation is contributing to public and farmers confusion. If decisions have been based on data from the Inland Revenue, it raises concerns that Accountants may not be utilizing accurate figures for taxation purposes. Why is no one talking about the elephant in the room - BREXIT.
So why not give an exemption to the man who owns the bake bean factory - he's producing food - then there is man who owns the bread factory - or the Campbells soup factory or pret a manger? It is a ridiculous exemption based on nothing.
I've not started watching this. But will make my predictions Owen Jones argues for inheritance tax, taxing the wealthy, talks about Gaza and social justice and uses the term 'right wing' at lease once Angela Epstein argues for no inheritance tax, helping the rich get richer, calls the Government socialist or communist and uses the term 'woke' at least once. Let's see how many I got correct
I’m sick of the very wealthy gerrymandering the much poorer in society to protect the very wealthy’s wealth.
@AppNetEnt
Many family farms are not extremely wealthy. They are land rich, the land which grows our food.
As ever it's neither the very rich nor the very poor who will be affected but those in the middle
@@ehilton96 You don't think people like Dyson will be effected?
Google 'gerrymandering'
@@ehilton96what is the middle nowadays? There is no middle when you have 2 teachers for example having part time uber delivery jobs to make ends meet.
@@JonBushell Your two teachers ARE the middle. The people on benefits and the very rich are the ones not in the middle.
i have always found it bizarre how poor people argue for rich people to keep their wealth.
Because its theirs, not ours. If people earn enough to become rich good on them. Why on earth should they pay so much more just because they've done well. It's pure envy.
@@TheRuthdobson No the rich just have to pay their fair share. It not unfair to be expected to pay your fair share of taxes. I thinks it should be 40% inheritance tax so it’s the same across the board.
@@TheRuthdobson Also Ruth what we are talking about is inherited wealth,has nothing to do with how hard someone has worked.
@@johnmulligan912 the USSR also thought that farmers should "pay their fair share" how did the holodomor turn out?
@@deathdoom8 oH nOeS, iT's kOmMuNiSuM, sOmEoNe fInK oF dA cHiLdRiN!!1!
Why don't the farmers go to the conservatives party and ask them where is the grant money we lost by voting for Brexit
Reap what you sow 😂😂😂😂
Its buried in the ever growing NHS budget twice over
As if there is someone who actually assumes they didn’t. What a prat
Farmers don't want handouts. They want to work the land, get fairly paid for what they produce and not be robbed of their way of life so their land can be used to house illegal immigrants.
@@markmcbride678pun intended
Clarkson bought his farm in 2008 and he openly said it was to avoid inheritance tax...... Pay Your Tax .....
And??? He earned his money, paid tax, brought a farm so why should he and all the others farmers pay more tax? No farmers no food, just want they want, us eating bugs and lab grown meat. Fools
@TheRuthdobson you do know he doesn't pay inheritance tax don't you..... Beneficiaries pay it on unearned income ?
@@TheRuthdobson Nice to see you supporting a misogynist bigot. Well done.
@@Lynnpjjbdndji Wrong, the estate is taxed not the recipient and tax has to be paid before any beneficiaries receive. It’s a tax on your estate on death. At least research before commenting!
@@Lynnpjjbdndji And you obviously have not heard of executor loans that many have to take, with interest in order to receive funds!
Jeremy Clarkson literally bought his farm to avoid inheritance tax.
Yes bloody snake
No he didn't and not only that, he could have gifted it to his wife or children tax free, so he didn't to buy a farm to avoid it.
@@Steve-s8k he admitted it a few years ago
@Steve-s8k you are wrong, this is just logical financial planning.
Prices in the UK are high, you are no longer part of the EU, and you want to attack the people who produce your food? Madness.
Speaking of Brexit, I remember Boris Johnson moronically boasting about how good it will be for British farmers to compete with the imports of cheaper meat from abroad via new trade deals. Anyone who disagreed with him and correctly pointed out that British farmers do not need more competition as it will decrease their income was called "unpatriotic" and Johnson claimed they didn't have faith in our farmers.
The problem with that is that the advantage of being able to cut regulations to make it more profitable so British farmers can compete has never been capitalised upon. Same goes with the energy market.
Meat is expensive for the customer just go into any supermarket or butchers shop... Tony cuenca
Brexit, the gift that keeps giving.
Project Fear
@@frankpaterson9786 It would be if it was utilised properly.
Most of the Land owned by multi millionaires do NOT produce food on their land.
bollocks, give me 10 examples then. and on farms with grade 2 and above soils, not grassland farms because you cannot grow root crops or cereals on that land.
@andytg107 Heres your answer, get yourself an education. Read, The Lie of The Land: Who Really Cares For the Countryside by Guy Shrubsole
If that's the case, tax them, NOT the small independent farmers. But of course, they won't do that, because this isn't about getting money from tax, it's something far greater.
farmers are not multi millionaires . They are grafters supplying us with food
@FionaHedges Yes, only some of them. The 1% that own over half the land don't grow food.
This has been going on for years and years. It's called land banking. Buy a farm, rent it out to an actual farmer, and watch the value of the land go up and up while you do nothing. Then pay no tax. It's just not fair.
Funny to see Owen Jones running rings around Angela Epstein
He couldn’t run circles round a barrel!
@@janecooke9151and yet here he is making Angela and Vile look like utter numpties
I watched because Owen was on the panel but usually the top three who I switch over when they are on are Carole Malone, Mike Parry and Angela Epstein. Some of the right wingers are reasonable and a sensible discussion ensues but I will not watch it when these three are on. Mathew Wright was the best host of the programme.
The three you list are the gutter trash of journos.....I always thought Gove and Bojo gave the fourth estate a bad smell.
But the three listed are the scrapings of the barrel. Don't give them air time. But then Jeremy Vile isn't that much better, definitely a right wing whinger!!!
Owen is insufferably smug but he's far too bright for that woman
40% of farmland bought by non farming millionaires as tax avoidance ....tough cookie!
Yes but 70,000 working farms will be affected.
Tory boy Clarkson is politically ignorant.
How so? He sees this as a decimation of agriculture and the rural people.
@@chris.bcfc.keeprighton.5685
Clarkson by his own definition is a tax dodger, buying farm land to avoid paying tax.
Why should the poorest people support those worth millions. When 14 years of austerity has meant paying bills or 3 meals a day and keeping warm.
Just politically?
@@shaunjp2211 What's that got to do with generations of farmers. This isn't about Clarkson, he's just a high profile person on the side of the farmers, because he owns a farm.
@Steve-s8k
Clarkson and Dyson are examples of people buying up land as a massive tax dodge
I had to pay 40 % inheritance tax, so why shouldn't farmers pay 20 % over 3 Million paid over 10 yrs
Jeremy Clarkson slags off the BBC but was happy to take their money for 40yrs.
We had umpteen warnings about food shortages, and not much happened, millionaire farmers whining about paying a fair amount of tax, nothing more
As I said above, the only time I remember rationing and spaces on food shelves was after the Brexit farmers voted for, where we had to rely on them...
I have plenty friends that are farmers and their farm was passed down to them as soon as legally able. Age 16 I think for my friend a couple of decades ago. Farmers don't wait until they retirement to sign it over as that would just be a unnecessary gamble
I wish I grew up on a farm and inherited it for nothing instead of growing up in a tiny semi in a dead end town with no green spaces or entertainment amenities or job prospects.
The tax is a lot more generous than a normal person gets. So they are already getting a much better deal. I think it’s pretty fair imo.
Be careful what you wish for.
Diddums
@@tcod3137meanimg?
You know nothing about farming! Or how a farming family works! Boo hoo to you
@ a person can learn, sorry if learning is a difficult skill for you. Life must be a struggle.
So many bots arguing for scrapping inheritance tax which doesn't even affect the majority of Brits as hardly any of us are holding onto assets worth anything like mega estates in this country. Makes you wonder what the angle is, and for who, eh?
Mega estates? They could likely afford it but actual farmers can't.
I'm an engineer, I contribute to this country I don't get an exemption.
Owning land is about CLASS in this country - wealth always came from the landed the LANDED GENTRY - and they always had special exemptions.
You can be a farmer and not own any land - tenant farmer or be a land owner and not farm personally - being a land owner with tenant farmers.
No exemptions for wealthy people.
Yes many farms maybe landed gentry, but go to thousands of farms and watch the farmers slogging away a hundred hours a week in the rain and mud, mucking out the cows and then tell me they're landed gentry.
Incredible that Angela's argument actually had nothing to do with farmers and the country's food supply at all but was just whining that rich people aren't actually rich and shouldn't be taxed. Good grief
The only time I remember food shelves being bare was... after farmers and others voted to leave the EU. We had to rely on U.K. produce and- bare shelves.
Spot on.
The only shelves that were bare was with foods like tomatoes and the like that don’t grow in the UK climate. No shortage of beef, milk, bread, potatoes and the like that is grown in this country.
@@alanwilkinson7592 No shortage of milk? That's why some stores had 'one bottle per shopper'? Waitrose had "its cap on all fresh food, so meat, fish, poultry and other fresh goods (...) Asda is removing limits on fruit and vegetables and chilled products. Tesco, Sainsbury's and Co-op are not changing their policies on restrictions at the moment." Also "our grocery stores, (...) shoppers panic-buying toilet paper, water, rice, beans, pasta, BREAD and frozen foods" (My capitalisation)
The main overload was potatoes as restaurants closed!
Making farmers have to sell off sections of land will only increase people using farm land as an IHT loophole. (all be it under the 1m value) It would also open up the land being owned by people who wont use the land in a way that benefits the country.
If a farmer sells a large plot of land then a purchaser will get planning permission to build a farmhouse there!
Just an excuse for wealthy City workers to commute in from the countryside.
I think Angela's last 2 brain cells are fighting about which one can be more stupid
I would say that about Owen jones 🤣
@@barneyrubble8590and all labour especially lammy thick as they get
@@barneyrubble8590that's because you can't take being on the losing side bud
@@pbplauralfilms in your opinion.
@barneyrubble8590 if you think Jones is stupid you probably want to read a book or 2
Ridiculous, it won't affect Clarkson seriously anyway. He'll still be rich so get on to the real question. Labour have proven that they are inept. 😢
Remove the allowances all together. Farmers should have the same rules as everyone else.
@@endlesssabbatical9612 correct remove inheritance tax for everyone
The same rules as who, corporation tax dodgers?
@@finsbury8919 YES, and Tax Gambling on Share Prices at the same rates as Gambling on Sport etc. Then we would have to make 90% of the City redundant?
@@trevorhart545 but their not are they? Or have I misheard the budget. You said, everyone so I presume you meant future tense of something that doesn’t exist yet, or ever.
Why should they have the same rules when their circumstances are different. That smacks of imbecility.
Victoria Derbyshire destroyed Jeremy Clarkson yesterday. Clarkson embarrassed himself again.
What was that on?
A different planet, most likely
Think it was the other way round
She is right when you pass away what you left was given to your children for a little stepping stone in there life
@@stuartrobertson4714 Nope. He was reduced to turning to the mob for back-up. Classic, classic coward's move.
No you need land worth over £3 million before you start paying.
Farmers who actually farm and produce should be put up on a pedestal like the NHS they feed the UK ffs Give them these benefits. It is not hard to see which farms are working farms and which are not, benefit the working farms and penalize the rest.
Why don't they cancel their Netflix? Stop eating Avocado toast? Get another job? Why are they so lazy?
@@Sickofdrawingcowboys717 Farmers are not lazy
@bwilliamson3887 prefer to be protesting something that won't affect 90% of them rather than work. They go to bed very early and sleep more than most. Lazy.
@@bwilliamson3887
Yeah they are, scrounging off the rest of society.
Diddums, go cry me a river.
@@bwilliamson3887
Only in your mind.
@@RoofLight00 Are you saying I'm mental?
noticed they don't like Owen speaking, wonder why
Understandable
@@colinturner4158 not really a debate if only one of the people debating can make a point
Just spare a moment and let me remind you of two very important facts which has resulted in the present issues with farmers, and just why they are piddled off with Britains Governments. When we left the EU the Brexit campaign told farmers that 100% they would keep their subsidies, Boris Johnson, who does not have a good relationship with the truth, also said the same. The National Farmers Union council was overwhelmingly in support of "Remain" but decided not to campaign, as it would upset some of their larger farmers, also Michael Gove ran around 'promising the earth' to farmers and many enviromental groups were supportive. But their plans fell on deaf ears.
Same lies they told everyone and im getting nothing to compensate me
very true majority of large farms (80%) voted for Brexit while the smaller, family owned were against. The result is that the small ones are screwed and big ones are getting bigger and bigger. Clarckson leading a protest: sad joke.
@00corwin00
Are you sure about that? I thought it was the other way round. The big arable operations in the Fens were certainly not keen on Brexit. They wanted access to the single market, eastern European labour and the EU farm policy
Good points by Owen. Angela made no sense.
Until 1984 the farmers paid inheritance tax at the same rate as everyone else that was elegible for that tax, and we weren't starving. They're now being asked to pay half of the going rate of inheritance tax.
@frankpaterson9786 Are all other circumstances exactly the same as they were in 1984? No.
The IHT relief was brought about to address a problem.
Land value is many, many times higher now, as is housing...disproportionately so compared to incomes.
Food is comparatively cheaper as a proportion of our income now compared to 1984 as well.
@@shelleyphilcox4743 ....which is why we should not be subsidising farmers
Farming was more lucrative years ago. A farmer could raise 6-8 children with a wife on 12 cows, some chickens and pigs. Now farming is the least profitable industry for the investment put in.
@@jamesthomas4841 British government are not subsidising farmers. They used to get them while we were EU members and then lost it when the Tories broke their promise to subsidise them when we left the EU
One reason land prices have increased so much is as a result of the1984 changes creating a tax loophole for the very wealthy.
Vine is a Tory stooge
If this is about putting food on our tables, what about haulage companies. They would pay IHT at 40%, so speaking of fairness, how is this fair?
My dad died in a care hame any money he received from selling his house went in care home fees leaving nothing to pass on to me of my sister or his grand children honestly if they have to sell a farm to pay inheritance tax boo hoo we would have loved to pay tax on any inheritance over 3 million
Clarkson backed Brexit and Austerity which is the reason farmers have to now pay half of their fair share
He should take some personal responsibility
So there was no inheritance tax before the eu?
Last time I checked all the rich western countries in Europe have had farmers protests.
You not remember the Dutch government backing down to them? Did they vote for brexit too?
No, the reason why they are attacking pensioners and farmers is to pay for the illegal immigrants, 3 billion a year just for the hotel bills.
Clarkson was pro EU.
He supported the remain campaign
Didn't get a peep from them when other were Marching for a better wage ,but yhe minute it hits their pockets 🙄
That's because this isn't about a wage. Try looking at the bigger picture.
Why should the farmers get a free ride, they already pay less in inheritance tax, than the rest of us.
People like James Dyson and Jeremy Clarkson, who have bought land to avoid IHT, have driven up the price of land, thus depriving those who want to farm of buying land.
Farmers voted for Brexit and Austerity and are complaining that there's no money left and their profit margins are squeezed. You voted for it now you have to pay.
Ironically the farmers will have to reap what they sowed.
Did they? I remember a very different story where the farmers were desperate to stay in to keep the eu subsidies.
I've never been a fan of farmers but your gonna just say all the problems are caused by leaving the eu. You wake up at 1am in the morning and its all the fault of the brexiters. Your wolves howling at the moon.
Now they try the blackmail game of "starving the population' which I assume means they will all go broke anyway if they sell no product
I think HMRC should forensically ruffle through the books of every farm in the country. I have a suspicion they'd be happy to pay inheritance tax then
For 3% wealth tax on people who own over £10,000,000, you could scrap ALL taxes on EVERYBODY else.
Brexit has done the real damage to British farmers.
Brexit never happened you knob
Why is this even an issue. They can pass it onto their children within 7 years and no inheritance tax will be paid. So why are we crying here
No. Electricians, plumbers, buikdrrs all provide society with functions to keep us going as a nation. Every business or no business should be equal otherwise it is simply wrong. Farmers think they are special but every business is. Revoke ir35 it is destroying more businesses than farmers. Farmers have gotten away with being treated as lords of the land owning aristocracy for far too long and this is why they are asset rich. People are forced to sell family owned properties this is just the same.
All these other busineses you talk about all have staff and they need to eat! Farmers arw the most importaint people full stop!
@@daniellissenburgh1584 I'm not going to lie, if my choice is losing my local farmer or my local doctor, I'm sorry but it's bye bye farmer.
@@daniellissenburgh1584"don't bite the hand which feeds you" (?)
"opinions aren't the same as evidence" Indeed! Might good to keep that in mind when addressing the entire country. There is obviously more interest in stirring up drama about Jeremy Clarkson and random hypotheticals with no basis in the fact that was admitted at the start of the show: the vast majority of farms will not be impacted by this tax
So are you saying that 70,000 farms that are going to be affected isn't a large amount?
tax them millionaire moaners! They will still only pay half of what normal people pay and get 10 years to do it!
Which is still not enough to pay it back for the earnings of legitimate farmers.
Farmers, Clarkson and private schools are exceptional and the normal tax rules shouldnt apply to them, basically. It's all Starmer's and not the Tories/Brexit's fault too, btw. Happy to clear that up for everyone. You're welcome.
It's a classic case of exceptionalism, I'm unique and different from you so the rules should be different when applied to me......unashamedly corrupt
No, it's we work for a fraction of a livable wage. Why are you greedy buggers ending us?
According to the Who Owns England? project, less than 1% of the UK population owns about half of the land in England:
Aristocracy and gentry: Own 30% of the land
Corporations: Own 18% of the land
Oligarchs and city bankers: Own 17% of the land
Crown estates and the royal family: Own 1.4% of the land
This totals 67% of English farmland that is owned by the most wealthiest individuals and groups both inside and out of the UK
Well done Owen even though you were outnumbered
Your an id iot for supporting owen
🤣🤣🤣🤣 he deserves to be outnumbered..
It's on anything above £3m so if their farm is worth £3,000,001 they only pay 20p, they get up to £3m completely tax free.
I would love £3m tax free. 😂
And then they only pay half of the normal inheritance tax
@@Pixiedust8399 that’s right and with the average British farm standing at 266 acres at roughly £30k per acre plus house plus stocks you can clearly see that’s quite a few 20p’s!
They have TEN YEARS to pay the 20% tax as well.
Everyone else gets six months to pay 40%.
@@Whythehateand where do you expect that to come from, fresh air?
The really wealthy will find other ways to avoid inheritance taxes if this one is closed.
It’s not just the really wealthy who will find a way. ANYONE can gift an asset (house, farm, or business) to the next generation and avoid paying the tax. They only have to survive for 7 years after the transfer.
@ agreed, but if you continue to benefit from it then it could be deemed to have been gifted after you died unless you paid a market price for the use. Also Labour are contemplating reducing from 7 years to 5 years ie reducing from 100% by 20% per annum over the 5 years, so could still be more expensive if you don’t survive the 5 years.
No problem! Just close them down as well
@@geoffnewman3109exactly so this is a non issue to me honestly. Why are we spending this time on this matter
Hypocrite Clarkson abusing the BBC at every chance. He should thank his lucky stars for the BBC.
An out time the King and Prince William also paid full tax, inheritance tax.
Clarkson talks sh!te. Always has.
He wouldn't care if he hadn't bought a 1000 acre farm for £4.5m - admitting at the time it was t avoid Inheritance Tax. (Only 10% of farms in the country are 1,000 acres or larger)
What about multimillionaire farmers start paying their fair share of taxes? Elitist farmers own land worth millions of pounds so why should they be exempt? Clarkson said he bought a farm to avoid paying tax. Those assets could be sold to pay the tax right?
“Cash poor” yeah right 🤣🤣🤣🤣
How is that funny? You think 25k a year makes you cash rich?
Nice to see you clipped out of the Clarkson interview the part where he was challenged on himself previously stating he only bought a farm to avoid inheritance tax and how he then ran away from Victoria when presented with receipts and challenged on numbers he was making up. Farmers being championed by the likes of Clarkson, Dyson and others does them no favours - especially as many are being misled on the realities which is that total allowances will be up to around 5m before any inheritance tax applied
exactly - disgusting lies
Clarkson boasted about tax avoidance and now they are closing the loophole (slightly) and hes getting upset?
Cry me a river
Clarkson also backed Brexit and Austerity which is the reason farmers have to now pay half of their fair share
@henryburton6529 can I eat your river when were in another global conflict and we have to eat our pets?
You realise how out of touch farmers are from real life when they think having Clarkson as a spokesman is going to help their cause.
Why doesn't somebody ask farmers if they use state schools, NHS,police, infrastructure etc and they find it hard to acess them isn't it because the last so called Govt used our taxes to lin the pockets of their cronies,at the expense of thiis country and now we as a country have got to pull together to get it .They voted brexit a d l9ok at that now 5hey are following self same people. Says some2 about farming community
Anything bought with already taxed money should never be taxed again!
Double dunting
How do you know its been taxed if its land left by ancestors
...so no capital gains tax if I use my wages to buy stocks?
It's sad really. We obviously need farmers and the land to be farmed.
Farmers are getting conned, but not by the Govt or similar.
You got millionaire Clarkson (owns 1000 acres, more than 90% of farmers) saying he's with them, having bought a farm as a tax dodge, but now says for shooting. An area the size of greater London (million acres+) is used for Grouse shooting in England: called a farm but just shooting! 20 Dukes own 1m+ (million) acres and these are the people who'll have to pay. Country land and Business association own over a third of land in England and Wales!
Normal farmers aren't going to pay on inheritance when this tax loophole gets closed (according to the DFRA farmer survey 60% of farmers own less than 120 acres, so well under £3m) , but are getting played (again: Brexit!) by the very rich to do their work for them!
Turf them out and the land will be freed up, cheaply, for actual, farmers and everyone (who's not rich) wins!
inheritance tax should not even exist. its a con.
Owen literally explained why we have it.
@@leataylor9845 Owen jones is a complete left wing socialist. he hates anyone making a decent living. if your happy for the government to take 40% of your hard earned estate which you have paid tax on all the way. when you pass then that's fine. I for one I'm not happy to pay it so they can use it to look after illegal immigrant's, Foreign aid and those that can not be arsed to work. i should be able to pass on 100% of my hard earned already tax wealth to my family.
@@leataylor9845he is total waste of space 👎😡
Fine, they should return the increased value of the asset to the state, and keep their original cash investment.
@@michaelcowell727 who do you mean by they? any increased value wouldn't be returned to the state as it never belonged to them in the first place. it would be taken (stolen) from who it belongs. going on your suggestion why not just tax the profit at the standard tax rate of 20% then they are not taxing what has already been taxed.
Farmers can afford £1m for a tractor??? Nonsense. They lease them, so tractors are not part of the estate
If they dont lease them, then they're fools
Owen, you are a gem! Every single sentence is a nail on their corrupt heads. Keep going, mate! 🤍
🤣🤣🤣😱😱if he was leader we would be in dire straits
@barneyrubble8590 *you would be.
@@lloyddawson3571 well then,he'd would be detrimental to society then if you say I and millions of others would be in dire straits ffs
@@barneyrubble8590 he will not be detrimental to "the society". He will be detrimental to "you", and quite evidently, he ALREADY IS being so even without being a leader (which gives him an enormously wider space to work in and with)! So, more power to him.
@@lloyddawson3571 you're brainwashed
If farmers are that concerned about paying tax after they kick the bucket, either take out life insurance or put their farm into a trust like a lot of us 40% have to do. I'm sure they can trust those who will benefit 😉
Why just farmer. All IHT should scrapped its non sense tax which only harms UK economy. If I am know I am near the limit I will just invest it outside UK or keep it in bankaccount to transfer it to the kid.
Clarkson the tax dodger already finds the peasants revolting.😁
jones knows nowt farming is 24/7 working day for poor return
Please remove that woman from TV - absolutely clueless
Please enlighten me
Should make it exempt for working farms and go for clarkson and dyson types more heavily .
How many farmers who would not be hit by this tax were there demonstrating?
Tax increases brought in by people who dont understand farming/business. The whole idea anyway of inheritance tax is abhorrent when people have paid tax, vat, ni thier whole life.
When you are dead you don't pay it - the people receiving your estate do, it is a tax on unearned wealth being received
@alexfielding8411 that money has already been taxed though the government has no right to some of it. The government didn't pay the mortgage on the property or take any risks.
Yeah so make sure all the billionaires get to hoard the money and the poor can stay on benefits and our public services disappear forever.
Brilliant idea. Where did you hear that one? Tory Party conference?
@@davidflood8881 Neither did the inheritors, they are receiving a tax free asset. There are very good reasons for inheritance tax, the level at which it is set is up for discussion.
@@alexfielding8411the people inheriting the farm have worked on it all their life
"Last year, more agricultural land was bought by non-farmers than by farmers"
How do they know this? How do they know who is wanting to become a farmer?
If they do know then why isn't the tax aimed at those non-farmers?
Good on Owen. Teamed up by two rich entitled people. Vine even questions income tax.
You do know Owen Jones is a multi-millionaire.
@@Dogfacedbloke Nobody is saying there shouldn't be wealthy people, they just need to pay their taxes instead of whining all of the time.
Can see you understand fully. This is not Income Tax! There is no bloody income.
@@gordoncharles741 Who said farmers don't pay their taxes? This is a new tax that will destroy many farmers. You think farmers are wealthy? Most barely break even. The assets might be worth a lot but since they're never liquidated they're irrelevant to their wealth. If you think farmers live in luxury go live on a farm for a week, then you'll think differently.
@@Dogfacedbloke It's NOT a new tax, it's a tax that everyone but wealthy landowners have to pay. They are only being asked to pay half the rate that any other taxpayer would have to pay and even then will still get generous exemptions. Major farm equipment, like tractors and combine harvesters are written off for tax purposes over 5 to 7 years even though modern versions of these will last 17 to 20 years.
The wealthy don't tend to work hard, they invest. Landlords of your average house rental do not work hard, they increase the cost to society, of having a roof over the heads of modest paid but hard working people, increasing property prices and rents. This cost to society has meant that the birth rate in the UK is now 1.49, meaning the previous governments, under johnson and sunak, imported more people to this country (around 4.5 million) in 4 years than 13 years of Labour governments from 1997 to 2010. Under the Labour government the UK was still in the EU and had free movement of people to contend with.
The increase in immigrants to the UK has forced the house prices and rents up, exacerbating an already broken housing market and put too much pressure on an underfunded (in real terms) and broken NHS.
What are farmers? The new aristocracy? They shouldn't pay inheritance taxes because they're the new aristocracy? In any case, where is the magic law that says the children of farmers are going to be any good or even more productive than say, a recent graduate from agricultural college who would like to buy in to their career but can't because all these farms are being passed on?
This is a joke right 😂
We want farmers to keep farming and we want to stop the rich from dodging inheritance tax in farmland.......
Can't the govt just take their share of farmland as their tax which they then rent back to the farmer's descendants at some peppercorn rental rate?
Basically farmland should be near worthless, since it generates so little profit for what seems like a lot of effort. So it remains affordable for genuine farmers to grow their farms. Hell I'd go a bit further and say should planning permission be granted for development that a windfall levy be applied to reduce speculation/land banking.
Surely you can't be serious. The government owning all the land.......... whatever could go wrong? If you would actually take the time and study all that is going on, you would realise that it isn't about tax, it's about control and taking the land is what the government and the elite want, so the farmers would be playing right into their hands
Utter nonsense. The return on farming is less than 1% of the value of assets and land. There is no way they can pay it without selling off chunks that make it un economical
Well the issue is, rich are buying land from farmers, the land goes up in value then more land get purchased, the rich then do nothing with the land, but it keeps going up in value, there needs to cut the value of the land, this is a good way of doing this.
That's what they manipulate the books to show. Their main personal expenses are put through as business expenses. They also don't have mortgage liabilities and don't include their profits from other ventures. How else do most of them afford to drive premium vehicles, wear branded clothing and provide their children with passive income? But yes on paper they are just so very poor.
Uneconomical and full stop at the end. I hope this helps.
Over 1 million acres in England and many more millions in the Scottish Highlands are used for grouse shooting, that land shouldn't be permitted to be referred to as farmland.
Scrap inheritance tax for everyone the tax has already been paid on this money
That's exactly what I was about to type.
100% agree, scrap it all together
@@sonofsomerset1695 Yeah so make sure all the billionaires get to hoard the money and the poor can stay on benefits and our public services disappear forever.
Brilliant idea. Where did you hear that one? Tory Party conference?
@@henryburton6529Absolutely
You do realise there is tax on everything when you pass money on to someone else, be it gifts, inheritence or even paying an employee. Just because you've paid tax, that doesn't mean the person on the receiving end should be guaranteed a tax free hand off. Should nepotism be tax free?
Tis time these asset rich paid their dues and a full investigation into land ownership and exposing the brute aristocracy
Owen Jone and Jeremy Swine!! God give us strength 😢
Nurses, teachers, police, bricklayers, doctors post-people, public transport workers…anyone that works to benefit society should be given the same tax exemptions as farmers. Farmers should get different grades of exemptions depending on produce and who it provides for. The more local the better…provide hospital…care homes all these can be worked into a scale…if you have a farm that doesn’t produce…you can get exemptions for solar fields or wind fields. Right now all farms shock be have inheritance tax as high as everyone else.
So My Dad is 91 and my mother died 11 years ago. So Just 1 million allowance for the business (forget the £1m for the house). So 300 acres is worth £3m plus machinery and stock (£1m). So tax is on £4 less £1m allowance. So tax bill is £600,000. THE FARM EARNS £50,000 Per year!!!!!!!
U N A F F O R D A B L E
Lots of children have to sell their beloved family homes to pay the 40% inheritance tax...why should farms be different? Sell off part of the farm to pay the £60k a year tax bill. Or sell it all and pocket more than £3m of INHERITANCE, never forgetting how lucky you are.
I'm sick of the Nadhim Zahawi types thinking tax is for other people. We're all in this together! Having Clarkson as your spokesman won't win you any new friends.
@@Mark_S_Moss Is that really your question? What's the difference between a farm and a house? Jesus Christ, a Labour MP in the making.
@@Dogfacedblokeboth are assets. Boo hoo pay your tax.
Maybe he should pass onto his kids before he turned 91! If he gave it to them at 84 years old and carried on living/working on the land if he wanted to
@@daGobbo Sure, because we all know that farmers can see into the future and a) know that a government will suddenly and without warning change the inheritance rules and b) know with full certainty at 84 that they will still be alive at 91.
If their yield is so low they should sell out and get a job.
Also, while adding up the assets what about the debt?
Who is the Karen on this clip. Where did they drag her from? Shouldn't she be complaining to the manager?
Clarkson is only interested in himself, on the video he's playing to a captive Audience of farmers ! that's all he's concerned with, also where ever he lives he upsets the locals!
Brexit and the supermarkets are to blame for their troubles and the rich arse holes who are buying farms to hand on there riches , Clarkson has 1000 acres 60 % of farms are less than 150 acres
Scrap all inheritance tax, many countries don't have it.
No, I quite like the very rich being taxed for a change.
@@nathijomacenvious much!!
@@TheRuthdobson greedy much!!
@@nathijomacget a job
@@barneyrubble8590 I've got a good one already thanks.
Easy loophole here that farmers seem not to be taking advantage of. Don't include the assets on top of the land when you calculate the land worth.
Why include a tractor or fencing as part of the land value? That will definitely mean you meet the threshold - be smart farmers not emotional ones.
But I suspect the farmers fury is not about minimising their tax bill, because there are legal ways to do that.
This is more about everyone now looking at the wealthiest in society and how they've been living comfortably off the misery of the working and middle classes for 20 years and their natural resistance to change.
ALL MISSING THE REAL POINT. The "BIG" Farmers will have accountants who will have everything tied up in Trusts. What Labour want is LAND for building Houses on. They want to encourage farmers to size downwards, sell land to developers for Labour to have builders to make New Towns, Villages or Estates. This is nothing more than a Lanmd Grab.
I hate Lanmb Grabs!
Can’t just sell land for development.
Nice with mint sauce
@@johnmulligan912 I've heard farmers on LBC saying they've had offer for part of their land for use with solar panels - money and cheap energy for the farmer! They chose not to sell part of their land. Chose. The tax loophole being closed won't effect their farm until a) they die and b) ten years after that.
I literally had to sit and listen to a whinny decendant of a farmer from Devon today complaining about how farming is not profitable - well that income tax mate
Inheritance tax is on net assets of an estate - it doesn’t affect your income and profits
But of course he would want to whine - he’s set to inherit land and farm houses tax free if he keeps pushing his “poor farmer” argument
All inheritance tax should be abolished..
All inheritance tax should be doubled.
It is perplexing that there has not been more scrutiny directed towards the banking sector - you can't eat money! There appears to be a lack of transparency from some members of the Conservative Party, particularly those aligned with the far right, including Liz Truss, who advocated for industrialized farming as they thought too many subsidies were given to small farmers. The prevalence of misinformation is contributing to public and farmers confusion. If decisions have been based on data from the Inland Revenue, it raises concerns that Accountants may not be utilizing accurate figures for taxation purposes. Why is no one talking about the elephant in the room - BREXIT.
Its not about who wont pay it. Its about the unfairness of those who will have to.
So why not give an exemption to the man who owns the bake bean factory - he's producing food - then there is man who owns the bread factory - or the Campbells soup factory or pret a manger?
It is a ridiculous exemption based on nothing.
Needs to scrap inheritance tax and net zero policy .
I've not started watching this. But will make my predictions
Owen Jones argues for inheritance tax, taxing the wealthy, talks about Gaza and social justice and uses the term 'right wing' at lease once
Angela Epstein argues for no inheritance tax, helping the rich get richer, calls the Government socialist or communist and uses the term 'woke' at least once.
Let's see how many I got correct
Stop patients from paying hospital tv take ten pounds a week from people on benefits
All inheritance tax should be scrapped it’s immoral