No farms, No food. French farmers would protest, direct action, dump a lot of cow manure outside Kiers Starmers house that might help him change his mind.
Hi Will. If, as they state, Labour’s primary reason for scrapping the 100% IHT relief for farmers is to capture those non-farmers who have invested heavily in land as a way of avoiding IHT - giving them a generational tax shelter for their wealth - then why do they not amend the rules and grant 100% relief to those farmers who are farmers; by using the same eligibility criteria as would be used for a tenant farmer who wants to pass on his generational tenancy to the next generation? This would mean that only those farmers whose principal source of income (at least 50%) was earnt from farming the land out of at least 5 of the last 7 years prior to their death. As many land investors, such as James Dyson, Jeremy Clarkson, pension funds and so on, would not qualify under this criteria, they would not get IHT relief and so achieve Labour’s stated aims. Whereas the family generational farmer whose principal source of income is the farm, would. Would you therefore be willing, Will with the influence and platform that you have, to raise this key point with Labour and so take the focus off the £1m limit and onto what the stated purpose of the change is for? How could they argue with using the succession clause which is already written in law for tenant farmers who pass on their tenanted farms, when it would effectively sift out the ‘wheat’ from the ‘chaff’ by bringing to light who was a farmer who depended on their income from the land (the ‘wheat’) and who was not (the ‘chaff’)? With best wishes
Most of the brand new machinery is not fully owned most will be on some kind of financing deal Which is something that general public do not understand
Fully understand what you talking about .here in ireland we have people in cities think we are on the pigs back.definitely have our support . Good luck with the protest I hope somebody in government has the brains to listen to the farmers
Not a farmer but well behind you all and your cause. Turn up in London in your sh77t covered Hilux. Protect our farmers, nicely explained no nastiness just facts.
Some farmers keep acting like if they sell land no one will be farming on it who is buying the land (its other farmers). Inheritance tax is mostly avoidable by passing on the buisness before death (lots of ways of structuring this), you are (almost) never too young to consider succession. The people it really catches out are the unlucky people who die young so dont have time to prepare. The pro is that there will be fewer non farmers buying up land for the tax advantages. They probaly should have set the allowance a couple of milion higher though.
But that’s not true, as so much land is and still would be bought out by either big farming companies (not families) or non farming companies and leased out until sold for building or to cash back in and because those businesses don’t technically die they can be passed on they won’t have to sell. Biggest landowners in the country are the 3 C’s, the crown, the church and the colleges (universities) so they won’t ever sell
Farmers, each of you ought to get your farmer friends to show that King Charles did not pay inheritance tax when he inherited the huge estates from his mother. From those estates he charges the public bodies such as the NHS, The ministry of Justice and the RNLI huge rents. Show how the government allows their friends a free ride while bleeding those who grow our food.
Sell it to the next generation for a 1 pound. That makes it sold not inherited. I don't know the rules there since I'm in US but it worked for my father ten years ago.
Maybe there should be an agreement for farms to continue producing crops etc for ten years at least after inheriting. There are a farmers who dont have any children willing to take on a farm so the kids will just sell after the funeral. So why should these people be exempt from IHT when no one else is?
They don't realise if 1 child wants to farm he or she has siblings that inherit the same would you work to give money to siblings for nothing ? Who pays the tax
We were key workers during the lockdown and were starting to feel appreciated, now we feel persecuted. Empty shelves are the only way to make people realise what farmers actually do for everyone in the country. We pay our taxes every year so why family farms are being crippled with massive tax bills is bewildering. We need to strike and withhold produce.
Unless things have changed in the last 10 ish years, you should be able to "gift" the farm to family members as long as its at least 7 years before death, that avoids inheritance tax.... May be worth looking into. . Thats the way it used to work for property, I worked briefly in probate 😊.
Find a solicitors who deals in conveyancing and probate, and offers a free 30 minute consult, and get their advice. They will advise you if theres a "work around." honestly its probably not going to affect the prepared farmer, it will be the ones that hang on until a sudden death/illness usually age related, that it will affect.
In essence it’s safest to give the farm to the youngest generation, least likely to die of natural causes, doesn’t stop if it happens though or a freak accident, plus how young is too young before they aren’t mature enough to make the heavy decisions of cropping or livestock and health etc
@CowleyHillFarm oh absolutely, it doesnt cover all scenarios but covers a lot, there's other options also, like trusts etc, but all that's going to do is cover MOST scenarios, not everything. I guess maybe private health insurance for the majority of the rest to ensure the payout would cover the farms cost.... theres always going to be the minority of folk that will fall under that inheritance tax though, it's not a complete fail safe, just better than nothing.... farmers really are best booking that appointment with a solicitor and discussing best options for them and ways around it all, it won't cover everyone though, just like most things, someone will get stiffed....I don't agree with it, was just trying to offer an alternative that may help the majority of folk. :) I don't disagree that it's a bad choice by government, just not sure anything will change with it honestly, and therefore it's about trying to find a way forward through it. X
@erikgrimley5519 yeah that's it - it doesn't stop all scenarios. It also doesn't stop the parents/grandparents running the day to day but the farm being put into younger generations names in name only 🤷 but there's trusts etc where it can be ran for kids until they're old enough to take over etc too.... it just won't cover sudden death basically
Many industries took a hiding in last 20 plus years sadly not many tractors pulled up to that protest so don’t expect too much. Farming has spent a lifetime paying next to no tax by accumulating assets to avoid it so was always going to be a d- day whilst receiving grants and subsidies to help them do it. Farmers producing food because they love the population, ah wouldn’t have thought so. Should also mention the relief for his/her allowance n few add on bits which is another million. Yes feeling bitter here also as a household who barely own the shirt on our back our tax bill is over 20, 000 pounds for 12 months , your bill will be for a generation so please don’t feel to hard done by. At the end of the day funds for a shed at 3 or 4 hundred thousand never seems to be a travesty so dust yourself down and join the rest of us and stop looking for loopholes and we all might get a break eventually. Part time farmer.
Most farmers will say it’s a way of life and that’s what it is and they put most of what it makes back into the farm. But why do farmers pay such huge amounts for equipment that wouldn’t be needed if they employed more workers instead of the never ending pouring more money into labour saving machines and equipment instead of giving people a job and at the same time maybe giving farm animals a better life.
I kind of understand that but it would not affect animal husbandry. I think the UK is second to none. But what you’re saying only really applies for large scale businesses. Like for us we have pretty regular grassland kit and smaller tractors. It wouldn’t make any difference have more staff as we couldn’t downgrade machinery as there’s not much smaller
I doubt that threatening the public with withholding produce is going to get much sympathy for your cause. This is a decision made by a corrupt and incompetent government, it’s not something the public deserves punishment for.
@ I think you do the farmers side a lot of harm with this video. If family farms refuse to sell food then the corporate farming sector will just take over and supermarkets will be even more brutal to small farms. All the stuff about not wearing your best tweed and not driving your new tractor to protest in London seems a bit odd in a video that the public will see.
Our family often disagrees with the government!!!! One person has said “farmers need to read the small print, there will be roughly only 100 farms per year affected by this policy”…hmm, I highly doubt that statement otherwise why else would everyone be so enraged? One farmer has already taken his own life with many others thinking of doing the same. I’m not in farming but this is awful 😢. Thinking of the man’s family RIP
Loss of farmers will impact all people around your community. Will impact your food chain. Hope you will all be able to make other under stand and tax doesn’t come forward.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
Good luck. My prayers are with you.
100% behind our farmers
No farms, No food. French farmers would protest, direct action, dump a lot of cow manure outside Kiers Starmers house that might help him change his mind.
Hi Will. If, as they state, Labour’s primary reason for scrapping the 100% IHT relief for farmers is to capture those non-farmers who have invested heavily in land as a way of avoiding IHT - giving them a generational tax shelter for their wealth - then why do they not amend the rules and grant 100% relief to those farmers who are farmers; by using the same eligibility criteria as would be used for a tenant farmer who wants to pass on his generational tenancy to the next generation? This would mean that only those farmers whose principal source of income (at least 50%) was earnt from farming the land out of at least 5 of the last 7 years prior to their death. As many land investors, such as James Dyson, Jeremy Clarkson, pension funds and so on, would not qualify under this criteria, they would not get IHT relief and so achieve Labour’s stated aims. Whereas the family generational farmer whose principal source of income is the farm, would.
Would you therefore be willing, Will with the influence and platform that you have, to raise this key point with Labour and so take the focus off the £1m limit and onto what the stated purpose of the change is for? How could they argue with using the succession clause which is already written in law for tenant farmers who pass on their tenanted farms, when it would effectively sift out the ‘wheat’ from the ‘chaff’ by bringing to light who was a farmer who depended on their income from the land (the ‘wheat’) and who was not (the ‘chaff’)? With best wishes
It should be supported like a good mortgage zero interest rate when you have to pay inheritance tax.So why most British farmers voted for Brexit?
Most of the brand new machinery is not fully owned most will be on some kind of financing deal Which is something that general public do not understand
Fully understand what you talking about .here in ireland we have people in cities think we are on the pigs back.definitely have our support . Good luck with the protest I hope somebody in government has the brains to listen to the farmers
Good job.
Well said ❤
Not a farmer but well behind you all and your cause. Turn up in London in your sh77t covered Hilux. Protect our farmers, nicely explained no nastiness just facts.
Some farmers keep acting like if they sell land no one will be farming on it who is buying the land (its other farmers).
Inheritance tax is mostly avoidable by passing on the buisness before death (lots of ways of structuring this), you are (almost) never too young to consider succession.
The people it really catches out are the unlucky people who die young so dont have time to prepare.
The pro is that there will be fewer non farmers buying up land for the tax advantages.
They probaly should have set the allowance a couple of milion higher though.
But that’s not true, as so much land is and still would be bought out by either big farming companies (not families) or non farming companies and leased out until sold for building or to cash back in and because those businesses don’t technically die they can be passed on they won’t have to sell. Biggest landowners in the country are the 3 C’s, the crown, the church and the colleges (universities) so they won’t ever sell
I do feel for the next generation of farmers but also how do 1st generation farmers ever make it when they aren't asset rich
Can't the farmers put their property into tr us ts?
Farmers, each of you ought to get your farmer friends to show that King Charles did not pay inheritance tax when he inherited the huge estates from his mother. From those estates he charges the public bodies such as the NHS, The ministry of Justice and the RNLI huge rents. Show how the government allows their friends a free ride while bleeding those who grow our food.
Sell it to the next generation for a 1 pound. That makes it sold not inherited. I don't know the rules there since I'm in US but it worked for my father ten years ago.
You’d only get hammered with capital gains tax instead
Maybe there should be an agreement for farms to continue producing crops etc for ten years at least after inheriting. There are a farmers who dont have any children willing to take on a farm so the kids will just sell after the funeral. So why should these people be exempt from IHT when no one else is?
Currently if it’s farmed 7 years pre and post death it’s exempt. But it doesn’t have to be the owner farming it they can let it out
If farmers just went back to the cash based system. Cash money for food they would change the tax real quick.
All farmers have the backing from a lot people that understand what farmers is all about it's just this government don't understand what it means 😊
Thank you!!
They don't realise if 1 child wants to farm he or she has siblings that inherit the same would you work to give money to siblings for nothing ? Who pays the tax
We were key workers during the lockdown and were starting to feel appreciated, now we feel persecuted. Empty shelves are the only way to make people realise what farmers actually do for everyone in the country. We pay our taxes every year so why family farms are being crippled with massive tax bills is bewildering. We need to strike and withhold produce.
Completely agree!!
I feel your pain. We just elected a orange tosser who might gut so many retirement benefits.
He was so terrible the last time he was president I could actually afford gas and groceries.
You just gave the clue away
Unless things have changed in the last 10 ish years, you should be able to "gift" the farm to family members as long as its at least 7 years before death, that avoids inheritance tax.... May be worth looking into. . Thats the way it used to work for property, I worked briefly in probate 😊.
Find a solicitors who deals in conveyancing and probate, and offers a free 30 minute consult, and get their advice. They will advise you if theres a "work around." honestly its probably not going to affect the prepared farmer, it will be the ones that hang on until a sudden death/illness usually age related, that it will affect.
I get this but what happens in the case of a sudden death?
In essence it’s safest to give the farm to the youngest generation, least likely to die of natural causes, doesn’t stop if it happens though or a freak accident, plus how young is too young before they aren’t mature enough to make the heavy decisions of cropping or livestock and health etc
@CowleyHillFarm oh absolutely, it doesnt cover all scenarios but covers a lot, there's other options also, like trusts etc, but all that's going to do is cover MOST scenarios, not everything. I guess maybe private health insurance for the majority of the rest to ensure the payout would cover the farms cost.... theres always going to be the minority of folk that will fall under that inheritance tax though, it's not a complete fail safe, just better than nothing.... farmers really are best booking that appointment with a solicitor and discussing best options for them and ways around it all, it won't cover everyone though, just like most things, someone will get stiffed....I don't agree with it, was just trying to offer an alternative that may help the majority of folk. :) I don't disagree that it's a bad choice by government, just not sure anything will change with it honestly, and therefore it's about trying to find a way forward through it. X
@erikgrimley5519 yeah that's it - it doesn't stop all scenarios. It also doesn't stop the parents/grandparents running the day to day but the farm being put into younger generations names in name only 🤷 but there's trusts etc where it can be ran for kids until they're old enough to take over etc too.... it just won't cover sudden death basically
Many industries took a hiding in last 20 plus years sadly not many tractors pulled up to that protest so don’t expect too much. Farming has spent a lifetime paying next to no tax by accumulating assets to avoid it so was always going to be a d- day whilst receiving grants and subsidies to help them do it. Farmers producing food because they love the population, ah wouldn’t have thought so. Should also mention the relief for his/her allowance n few add on bits which is another million. Yes feeling bitter here also as a household who barely own the shirt on our back our tax bill is over 20, 000 pounds for 12 months , your bill will be for a generation so please don’t feel to hard done by. At the end of the day funds for a shed at 3 or 4 hundred thousand never seems to be a travesty so dust yourself down and join the rest of us and stop looking for loopholes and we all might get a break eventually. Part time farmer.
Most farmers will say it’s a way of life and that’s what it is and they put most of what it makes back into the farm. But why do farmers pay such huge amounts for equipment that wouldn’t be needed if they employed more workers instead of the never ending pouring more money into labour saving machines and equipment instead of giving people a job and at the same time maybe giving farm animals a better life.
I kind of understand that but it would not affect animal husbandry. I think the UK is second to none. But what you’re saying only really applies for large scale businesses. Like for us we have pretty regular grassland kit and smaller tractors. It wouldn’t make any difference have more staff as we couldn’t downgrade machinery as there’s not much smaller
thats how socialism works, sorry uk communist
Get the Labour Party out, ask the farmers about how Trump stopped the inheritance tax
I doubt that threatening the public with withholding produce is going to get much sympathy for your cause. This is a decision made by a corrupt and incompetent government, it’s not something the public deserves punishment for.
I agree in terms of government but I feel like it’s a way to show how important we are if we aren’t there and the affect it has
@ I think you do the farmers side a lot of harm with this video. If family farms refuse to sell food then the corporate farming sector will just take over and supermarkets will be even more brutal to small farms. All the stuff about not wearing your best tweed and not driving your new tractor to protest in London seems a bit odd in a video that the public will see.
Our family often disagrees with the government!!!! One person has said “farmers need to read the small print, there will be roughly only 100 farms per year affected by this policy”…hmm, I highly doubt that statement otherwise why else would everyone be so enraged? One farmer has already taken his own life with many others thinking of doing the same. I’m not in farming but this is awful 😢. Thinking of the man’s family RIP
Will, why did the farmers decide a weekday? More chaos? As less of us able to come and support you all 😏😞
Loss of farmers will impact all people around your community. Will impact your food chain. Hope you will all be able to make other under stand and tax doesn’t come forward.
Where socialism goes poverty follows