What on earth is the relevance of Brexit to do with it. Rachel Reeves allegedly couldn't manage her credit card payments. Is that because of Brexit? But she was made the Chancellor of the Exchequer?
@@nicholasdickens2801 Wrong! Most did. The referendum turnout was exceptionally high compared to any of the general elections in UK in this century. 72.2% turnout of an electorate with some 46,5 million voters. The leave voters won with a 3,8% margin. You can not say for sure what those who did not vote at all thought about remaining or leaving but needless to say they were obviously happy with whatever the outcome would be.
Reforming agriculture in Britain from a backward subsidised business model to a modern efficient one is needed. It’s never going to happen easy, but it’s inevitable and necessary so that Britain can reduce its imports of food.
After Brexit. The proposed usa deal with the American agro companies looking to expand. Expected them to undercut UK farms then snatch them up at cheap prices. Looks like we will not need to have a USA deal for this to happen....
This is the result of Brexit and the UKs dwindling tax receipts. Majority of farmers voted for Brexit (yes they did) and now they’re moaning they might have to pay some more taxes to make up for that disastrous decision. No sympathy from me.
The UK and the EU have declined over 50% economically compared to the USA in 15years. IMF figures not mine. The EU was and is the problem to Europe's declining tax receipts
@@garyb455 *"The UK and the EU have declined over 50% economically compared to the USA in 15years"* - Not true. Yes the US is growing faster, but then that's true of most countries and regardlesss has NOTHING to do with the EU or EU membership. If the UK had not been a member of the EU we would be even further behind the US. There are no "deals" or "arrangements" out there in the world that could posibly hope to give us more than Single Market membership. If you think there is, name it!
Most farms are asset rich but cash poor. We need family farms to produce quality food … otherwise it will be from factory farms or imports where you don’t know what the quality of the produce is.
God would you listen to these entitled twats. Never gave a toss about anyone in their lives and now crying over 20% tax bill above £2m when the rest of us pay it at 40% over £325k. If a £3m estate can't handle a £200k one off tax maybe they aren't the right people to take over a business that size. Plenty of young farmers out there eager to get a start and buy their own land. Those who can't find the money can sell 20% off to them and still be left with a massive farm.
Mrs Webster is obviously a poor family farmer struggling to survive the present conditions imposed on her ! "Just look at the hovel she is forced to live in"
I grew up in Groningen The Netherlands.The people who worked the land for the farmers were treated like muck.My mother hated the farmers for that reason.
Working on a uncle and aunt's smallholding of about 80 acres in the mid 70s he told me it was one of the few remaining independent farms left in that part of the Trent Valley, the majority were owned by "City money". Almost all were then and are owned by companies. Most of the great estates remain in trusts for the benefit of families who have owned the land for centuries and are not subject to Inheritance tax. Today most of the bigger farms growing say, fruit and veg are contracted to big supermarket chains who demand the farms can only sell to them. The free market is a myth. This did not start under the new Labour government or even past ones, for all their shortcomings. There is NO real agricultural plan. Farmers can't have it both ways.
The problem is the big corporate world is catching up with the farmers, just has it has done with everyone else. And if you don't make money you will be thrown to the wall. 'WE HAVE ALL BECOME AMERICANISED' like it or not! greed and profit nothing else matters.
While i usually agree with your views on your videos Liz,in my area nr Exeter i know numerous farmers that didn't think twice about selling of land for housing development making large amounts of money,smacks of double standards to me
So farmers having to pay taxes. What is the country coming to? Wonder why Ms Webster is kicking up a fuss over this. Oh yes she is a farmer. If so called farmers don't want to farm, pay their taxes, environment, etc etc. then go and do another job, as everyone else has to. I think the lady doth protest to much.
More businesses are closing in Great Britain than are starting up, this began with Brexit and has accelerated since. This lack of investment and production is causing young people to lose hope in the UK and are considering emigration and actually going, in numbers that have grown 28 out of the last 30 months (figures up to March 2024). Of all those arriving into the UK, an ever growing percentage are unqualified people with dependent families who need public services, but even more serious is those emigrating from the UK are in an ever growing percentage of qualified, experienced, educated young people, causing an expensive demographic shift that is unlikely to correct in the foreseeable future. Farming output has fallen since Brexit by over a third, this has become irreversable as farm land has been repurposed or left to deteriorate beyond economical repair. Even though more food has to be imported as a result, the quality of imports is falling by every container load, not helped by the removal of quality checks and regulations being relaxed to allow farming poisons to be left in the products and hormones, artificial food enhancements and other contaminents, which are increasing health problems for the population and the health service. Virtually no infrastructure projects have been completed since 2010, high speed rail lines are opening weekly in Europe, connecting cities in the entire continent with each other, internet, elctricity supplies, gas lines, water improvements have all teken a drop in the UK while all have improved in the European mainland. My prediction for the UK, after reading many economic, logistics and demographics surveys and documents is not good. Great Britain will now decline for at least the next fourty years, during which time it will become apparent to the population that rejoining the EU is imperative and preliminary arrangements will be attempted, Northern Ireland is fairing marginally better and is just about flatining, this will prompt an earlier reunification out of necessity and recovery can begin in, probably, the next ten years, followed shortly by Scotland. Those condemned to living in England and Wales will remain behind the self imposed Iron Curtain for probably two to three generations or more. Sorry about that, but it's all in the eveidence, solid facts, numbers, that so far, have been ignored by the people, and deliberately hidden from the people. My advice, emigrate. Or at least spend as much effort on education as possible, so that this type of catastrophic error can never repeat itself, however xenophobic the nature of the island dweller is.
Why should farmers be a special case? - miners and steel industries, ship building, manufacturing industries were decimated by tories - no farmers came out and said "oh, these are indusries necessary for the country's security" Why is it that if you own a farm you think you are God's chosen? I get taxed on the assets/money handed down to me - why shouldn't farmers be taxed the same? I don't sit £5million plus asset to pass on tax free to my children. When did British farmers back UK industries? They bought forign machinery, ran forign vehicles all on the farm - they've done bloody well. Mining was a way of life, steel was a way of life, car building was a way of life, shipbuilding was a way of life, engineering was a way of life, merchant marine was a way of life, Aircraft construction was a way of life......If it's so bad get out! If you have to rely on jeramy clarkson for your case, your on dodgy ground. Why don't you turn your farm into a limited company then the company would own the farm, then the "children could buy" the shares and pass the land down that way. Oh but you would have to file accounts open to the public! My oh my, how the privileged squeal when they don't have things the way they want.
Why should the very people that actually work 365 days of the year, and feed us, be considered a special case. Funny enough we can live without steelworks, coal, but food ? well give it a try, and see how you go.
@johnbull2592 yes I have, I worked in farming for over 12yrs putting in drainage, cabling, and ground work systems - that included many highly profitable farms which produced high quality products both arable and livestock - by and large, they were large companies which owned/controlled huge acreages. I don't buy this "only heavily subsidised family farms" can produce good food. The output in this country from large company owned farms is amonst the best, and the welfare is high as they can afford the vetenry costs. Some of them are family run companies, but companies they are. Small family run farms may have had their day, as with other industries - and farming is an industry.
@@trytellingthetruth.2068 try telling that to the mining towns, or steel industries. Yes, parts of society can live by importing steel from other countries, like farmers did with tractors and plough shears etc. Well a lot of people will buy their food from other countries. My blue berries come from north africa, some of my milk comes from abroad, the chicken is of foreign origin, eggs from Wales (usually) we like a form of sausages which is made in France, just been through our larder and quite a lot of it is in whole or part from abroad - so it appears we are not so dependent on small family farmsteads. Oh, and I spent 12 plus yrs working on farm land, mostly for large corporate very profitable farms, who produced good quality product, paid well and could afford to take good care of their livestock - and paid their tax.
As an ex-mineworker and someone who has been self employed for over thirty years (now retired}. I don't think that breaking up small farms will be in anyones best interest, our food supply is too valuable to gamble with. This policy needs to be amended.
Hospices and genuine charities have not been thought about in this budget with the NI, Farming is not in the same trust bracket with the public, but they have lost the EU subs lately {many of them did fall for that} But tax dodgers have been buying up agricultural land to avoid paying, so this one is complicated, wouldn't like this one to sort out.
If there's no money in farming then why is the land worth £millions? Perhaps because it has become a tax-efficient investment since the 1992 IHT changes, as Liz said. Now that exemption has been withdrawn, the value of the land will fall, along with it the IHT liabilities.
The problem is Labour ideologically isn't really aligned with farmers who pass on land and assets, as in they aren't valuable voters to their base, but where farmers really got conned was with thinking the Tories and Brexit were their allies. I know not all farmers voted Brexit, but lets not kid ourselves, they are vastly conservative inclined. The tax loophole needed to be closed to stop the rich buying the land but really in terms of strategic defence with more than half our food being grown domestically I think Labour should have made more of an effort to subsidise small farms. The most important take away I think is that farmers remember how bad for everyone the Tories were, as in they will just steal everything and then abandon you as they represent the super wealthy.
Farmers have always wanted to have their cake and eat it, while having someone else pay for it, "in their taxes". Rich farmers with huge financial assets should pay their share. Smaller "Family" farms wont be affected in the slightest. It's a pity that a large number of farmers chose brexit. ISN'T IT ??? Mrs Webster was very happy with the new labour government until she might have to give up some of her own wealth in taxes, what a hypocrite 😢😢😢 If you can't earn enough money from your multi million pound farm to pay the tax that everyone else has to pay, then sell it to so that somebody else can.
@@foppo100 It's time for some genuine leveling up and some leveling down to be implemented to impose a little fairness in British society going forward.
Who was behind it, your circus man boris, get brexit done remember, where is he now, and who kept you living when he and mutley crew having parties during lockdown, the farmer
What a completw crock. Farmers can easily reduce their exposure to inheritance tax by giving away shares in the farm to the kids as lifetime gifts, or taking out life insurance to cover a likely tax bill. As for food security, if they end up having to sell land, some other farmer will buy it and continue to produce food on it. This is just closing off a loophole which was largely there to protect wealthy landowners.
No other farmers won't buy it.. it will be bought by big companies from abroad as investment..they turn it into wild flower meadows. Its already started happening,
Very, I recently highlighted the 7 years tax free inheritance gift route. You do have to get the timings right on not dieing, but we all have that problem. If your passing it to a legitimate aire, to continue the good work of the family farm, do that. If your jez clacksin, pay your taxs on your hobby business.
@@brendanpells912 you can not gift an asset and use it without paying a rent on the asset. There is a large amount of anti avoidance legislation about this.
Did the 1st poor farmer vote for the Brexit. Imagine a "CAP" that was once the Norm across 28 independent Sovereign Countries. No Empire. No EU. No Staff from 27 independent Sovereign Countries of the EU. Shame. Oh. The shame the shame. 🇮🇪🇪🇺
Range Rover and Land Rover and the huge 4x4 flatbed manufacturers will also be sh*tting themselves, but it will make the roads safer for the rest of us.
As to farms selling land, farmers do that anyway to developers almost whenever they can. If they are not already wealthy, they will be after selling significant land to developers and most can carry on farming. If not they have the money to buy another farm and more besides. Buying land to avoid paying inheritance tax is a big fiddle, diddling the tax due and should have been closed. The money farmers make on food is a separate issue and should not be conflated. It's Brexit and over powerful oligopolistic supermarkets. Some farmers make a lot of money out of beef, chicken farming or arable, but small farmers, tenent farmers and hill farmers need subsidy to operate and should get it, but the Treasury tried to cut subsidy at EU level and now they can do that in the UK easily, after the Leave campaign lied about everything and everything has got worse.
@@Jacky5299 HMRC tax=vital infrastructure ,NHS,Schools ect. The farmers aren't being asked to do anything the rest of us are expected to do. After 14 years of the poor being clobbered with austerity its about time the tax system became fairer.
The majority of farmers voted for the party that plunged the uk economy into this situation in the first place. You must take some responsibility for your predicament that you’re now find yourself in. Perhaps not voting for Brexit would have been a good start!
The UK and the EU have declined over 50% economically compared to the USA in 15years. IMF figures not mine. The EU was and is the problem to Europe's declining tax receipts
@ Hard to see the relevance of those stats. It’s just people still trying to justify Brexit without telling us what the benefits were. ??? Now, most people in the UK know it was a con and our economy is wrecked, despite Tories Govt trying desperately to hide that damage from us. It’s often quoted in the media that the UK is “The only country to put tarifs upon itself”
Liz, farmers should be treated the same as any other business. They knew the risks when they started their business, so just like any other manufacturing, craft making, food and beverage, etc etc they take their profits do now carry your losses. We all know they (farmer's) miss the EU subsidies, just like fisheries. As an example, every business is family owned, they all would like to hand it over or down to their chosen heirs. But farmers as always what to operate under the animal farm motto, “All animals are equal, but some animals are more equal than others.” ― George Orwell, Animal Farm, tuff Liz, guess what, King or Queen, Citizen or Pauper, we are all the same and you know, we all bleed with the same kind of color blood. So, farmers, muster up and pay your dues to society. Now let's see who far your democracy goes or if this comment will be deleted again. Cheers.
Farms are a victim of increasing house and land prices as much as anybody else. The government have just come in to harvest their tax money. This won't be good in the decades to come. I was honestly shocked to realise there were some farmers who actually voted Labour thinking that they would be worth a chance. An example of people not bothering to learn about what their voting for.
@@klausmohr522 what a stupid comment, you do realise that large corporates do not pay IHT so by taxing family businesses like this they will just close and be handed over to large corporations. Get the large corporations to pay a 20% asset tax every 80 years to make it fair then…..
@ unfortunately it is true, same as the fisherman. Not all of you guys but most bought the lies and the scum party and now after not listening to experts you guys are getting into reality. Unicorns are good in kids books not in dealing between countries.
Dear Liz, told you so... Remember what you government decided? Small reminder: "The agricultural transition will deliver the biggest changes in English agriculture policy in a generation. Over 7 years from 2021, we are taking England out of the EU’s Common Agricultural Policy (CAP) and are phasing out subsidies for land ownership and tenure, radically improving our services to farmers and land managers." Before Brexit, the CAP ensure financial support for farmers around EU. Now, it is "...phasing out subsidies for land ownership and tenure, radically improving our services to farmers and land managers." You face now these new "Brexit's services to farmers", like it or not. And don't hope EU to help UK...
ALL farmers do is whing. If you can't run a business than sell up and let someone else's do it. Sitting on 5 million pounds of land. Yeah I feel really sorry for ya.
You're talking bullshit of the highest order! Imagine that the landowners sell their land and make a quiet life with the money in the south. Then imagine that I come, we have enough investors and money, and we buy up the land of the GB farmers. Then we will implement the latest concepts and drive up the prices of products so that people can still afford it, but with great pain! This is exactly the strategy they are implementing and GB can expect exactly the same! We don't do things like this because of ethics. Hedge fund locusts don't have ethics in their minds, they just want to make more, more money
My worthless cousin is about to inherit £15 million of land, Im over the moon he has to pay tax on it. He is 45 it will be the first tax he has paid in. his life.
A farmer dying is generational, they have exactly the same 7 year window to pass over assets without incurring tax. Why should the farmhouse be included with the land and so be tax free The large landowners have milked the tax rules for years, I don't see much food coming off the large shooting estates. There is nothing wrong with this new IHT rule just maybe tweak the thresholds. As for less farms this is unlikely, just less small farms without threshold changes
My worthless cousin is about to inherit £15 million of land, Im over the moon he has to pay tax on it. He is 45 it will be the first tax he has paid in. his life.
@@Jacky5299 Like everyone else the farmers, if they are left a £10m farm, will need to finance the Inheritance Tax. Doctors and nurses do good but they are still taxed.
@@picking4profit The tax is paid when the farmer dies, so it can't affect food prices. If the farmer leaves the farm to someone who wants to carry on farming then they can borrow the IHT like everyone else.
@@michaelwilliams2337 it affects the food prices if the farming business is closed down to a lack of funding. You can't keep financing your way out of debt.
My uncle retired and sold his farm to fund his retirement. In the 1990’s. Nothing changed. Someone else got the opportunity to buy and farm that land. Who in their right mind waits until they die (in their 70’s / 80’s / 90’s before they give the farm to their heirs? None of this makes any sense. Plus.. any iht can be paid over ten years. Not available to anyone else. It’s a tax dodge. Plain and simple.
Good 😊. Means that mankind even will survive the worst climate change and huge asteroids hitting the planet, like the ones that killed off the dinos. Liebe Gruesse nach HH!
If I died owning a property with or without land if my property falls into the inheritance bracket my estate would be subject to IHT . Why should farmers always be considered a special case ? They have been subsidised all my lifetime what other business has had that , farmers secondary business is complaining they always have and always will . So pleased that this Govt are bringing farmers into line with other business owners , they are not a special case.
@@michaelpriestley7816 Tell me, do you countries still tug your forelock to your owners, or just let them sleep with your daughters before their husbands on their wedding nights?
@@picking4profit Food prices are already out of reach for a record number of people because of right wing policies- hence the tory/brexiteers foodbanks.
Farming is a 1% return on investment roughly. If anyone of us went on Dragons Den with that sort of business plan you would be slow clapped out of the room. The investment is huge the return is dire. For instance an average 1000 acre farmer in the UK will have a one million pounds working overdraft. Quite obviously the charge will be against the land itself. On the said 1000 acres the IHT would be in excess of four million pounds taking into consideration the house and buildings. At this point I would imagine that the banks who have been fairly happy to give the loans will be wanting their money back. At a land value of £20K per acre the IHT would be four million pounds. If land was sold to pay the IHT, then capital gains tax would also have to be found on the sale. This has a strong smell of "expert" about it. Let's face it a Chancellor of the Exchequer that couldn't manage her own credit card is totally unbelievable in itself. Good luck to everyone of you. God bless you all.
These wealthy scroungers are always griping and miserable about something, they're like Irish loyalists,they need to pay their share,pay their way and stop blaming everyone else for their mistakes in voting for Brexit.
David Cameron was not a Remainer. Other than saying he was a Remainer, nothing he did was consistent with Remain. Yet he occupied the role of chief spokesman for Remain - a thoroughly compromised advocate, arguing against his own proposition. He was compromised because he'd failed massively on promises to reduce immigration. Promises contained in the third manifesto he'd authored demanding an in/out referendum. (2005, 2010, 2015) Yet, with a 100 seat majority, he pretended he was forced into a referendum he didn't want, to 'shoot the UKIP fox.' He didn't even try to reduce immigration - quite the opposite. Immigration increased threefold between 2010 and 2016, and yet he kept his Home Secretary in place for six years, until he lost the referendum for Remain, left abruptly - no questions, and she then became Prime Minister in a presumed quid pro quo. He sought to renegotiate the UK's relationship with the EU weeks before the vote; publishing a long list of complaints in all the papers. He cancelled the EU ID card. He formed the ECR in the EU Parliament with all sorts of eurofascist parties. He promised to enact the result of an advisory referendum - which was not his call. That was Parliament's decision; and when they made that decision - UKIP were outside threatening violence, while Jo Cox seat in Parliament was filled with flowers, and the Daily Mail were calling judges 'enemies of the people.' What I do not understand is why no one in the media or in Parliament expressed incredulity at his claim to be a Remainer. No-one suggested it was not appropriate for him to monopolise that role to the exclusion of those who might have made an honest case for the benefits of EU membership - to counter the tidal wave of disinformation people were targeted with by the Tax Payer's Alliance, Cambridge Analytica and others. As an EU citizen... (I'm British. I just don't accept brexit was legitimate) I have a right to free and fair elections, and that wasn't free or fair. It was fraud. Not least on the part of the then Prime Minister - now Baron Cameron of Chipping Norton. Is Misconduct in Public Office a crime? According to google it is; misconduct in public office is a serious criminal offense in England and Wales, with a maximum sentence of life imprisonment. One might have thought the former head of the Crown Prosecution Service would be aware of this law! And that any credible politician would have known David Cameron was not a Remainer! I wonder if farmers will raise the issue when they come to London next week to discuss inheritance tax?
The vile Scameron, like every English "PM "before him, spent a lifetime bashing and blaming the EU and portraying it as an enemy. The English got exactly what they deserve. They do not deserve EU membership. So glad. those liars are out.
You must make Brexit work for britain. You have absolutely no other choice. Europe certainly doesn't want you to return to the union. Financially, you can not meet the national debt limit of 60% of GDP even in order to apply for "consideration" ! Your parliamentary system makes it impossible for the 27 member states to take any application even slightly seriously. You could waste 20 years in alignment and fulfilling membership criteria, only for a change of government to overturn everything. You are the only country "EVER" to quit the union, and even then it was due to national "racism" " bigotry" and self perceived exceptionalism. The European Union is all about inclusiveness, working to a common goal, a common strategic ideal which England especially was never ever aligned to. Sure, there are some sensible and intelligent members of your population who understand the magnitude of your loss, but England remains a right-wing racist bigoted and deeply misinformed nation. Sort out your own many problems, but don't look to Europe for help or hope for the future. Your future is a lonely and isolated one, and one ENTIRELY OF YOUR OWN DOING.
Go home Brian, we don't need you. We can discover new worlds and reap the benefits of colonization again! Watch this space! You will see us returning to Viva Britannica again just wait! #GOHOMEBRIAN #BREXTITNOW! #SENDTHEMALLBACK
@@davidhodgson3901 Are you saying that facts lose their importance and relevance with repetition ? I think not ! You will not become less irrelevant on the world stage with the simple passage of time. Also no-one it facing you to read my opinions. They may continue to find new readers who are more intelligent, open minded and insightful than your good self.
SO ...how many farmers voted for Brexit and and they have no say in this matter. They did this to them selves. As for those that voted to stay God help you. The government must help !!!
@@Jacky5299 What a silly answer. Industrial farms produce more, produce cheaper, and produce more efficiently. Family farms are an unaffordable luxury.
@brianferguson7840 I purchase from local butchers, green grocers and eat quality fish from necessity. If you want to eat cheap, low quality rubbish be my guess. Just understand the health issues which come with that. There is a reason why people in the UK have the worst health in Europe. Wake up!!
Interesting. I see your point of view Liz but I think this raises a deeper question - why is it virtually impossible for someone who is not lucky enough to be born into a farming or super wealthy family to become a farmer? For them, it’s not just raising the 40% tax on value over £1 million (presumably £2 million for a married farmer), it’s how to raise 100% of the value over £1 million AND 100% of the £1 million too - impossible! As it is, even without inheritance tax, farms which go broke or are sold inevitably move into the hands of the elite. In effect, farmers are like another level of elite the the average Joe cannot aspire to and they are being squeezed out by the higher elite who will eventually end up owning all the land. It would be great if this trend could be slowed to a stop, ideally reversed and but I don’t know how. Meanwhile, this does go someway towards explaining the lack of sympathy from the general public for farmers being reduced to the level of the average Joe who can’t get a foot on the ladder.
I don’t know where my paternal grandparents are buried , give or take 500 yards, and none of my grandparents have a headstone. Am I bothered about farmers ?
Why don't farms incorporate all the assets including living accommodation. Inheritance goes away as the company directors just change. Own nothing and be happy.
I'm not a farmer, although I live in a rural area, but I have some sympathy with genuine small family farmers, who find that their land is worth more than a million just because of the rise in land prices. That said, there are a lot of people whinging with whom I have no sympathy at all. You mentioned Clarkson in your piece. A rich celebrity gobshite who said that he went into farming specifically to avoid inheritance tax is probably not the best advocate for your cause. He may be an outlier, but there are a lot of landlords and genuinely wealthy people who are complaining about their lifestyles being cramped by the budget, which makes it hard to see which are the farmers who genuinely deserve sympathy, and the ones who are just fat-cat land owners sounding off.
Food security is so important, just look at the amount of hectares that are currently under water in Spain at the moment and then look at the % of food that is imported to the UK from there. The gov are shortsighted at best with this latest blindsiding towards agriculture.
1) It is perfectly fair that when we inherit, i.e. have income that we have not earned, we should pay tax. 2) No inheritance income should be free from tax. However 3) ROA (Return on Assets) is smaller for farming than for many other businesses, so a) A business of larger ROA would result in the inheritor being able to continue to earn the same with no inheritance tax. b) A business (farm) of lower ROA would result in the inheritor earning less, as they would be taxed on the nominal asset value. Ergo 4) The new taxation regimen punishes low ROA business disproportionately. 5) Family farm business will be disproportionately affected and more likely to sell. 6) Farming will become a big business, owned by foreign companies. A better model: Tax when the asset is sold, based on the added value based on a metric for land value appreciation.
I think what we must remember is that 80% of working class kids will recieve not a bean in inheritance when their parents die. They will have to make their own way in life. I am also sure they would be happy recieving £1.000.000.+ and paying 20% tax. But I think this whole policy needs to be re-worked because what is the point of breaking up a small farm which will obviously be non viable with even less land. Also if farmers are selling off small parcels of land here there and everywhere will there be any buyers?, would you buy land which your neighbour was forced to sell to pay off tax debt? This is a crazy policy which will be unworkable and has an ex-mineworker who lost his job under Thatcher, and his winter fuel payment under Reeves I wonder what Labour are thinking about!. Seems to be another home goal.
The UK can not grow economically until we ban private landlords, they are at a point now where they just suck every penny out of the economy The increase in minimum wage - where do you think that will go...??? Rent increases next year.
Ok, this is fair enough for the small independent famer wanting to leave their small farm to their offspring. But what if the offspring inherits the farm and just sells the farm after a few years ?
Brexit puts a £40 billion hole in Britain's tax revenue. Coincidentally, the government has had to raise £40 billion extra in tax to keep the country running. Inheritance tax is part of filling that hole.
Nothing. Like most annoying or stupid decisions in the past and the present, a UK internal nonsense, not EU related. But Miss Webster needs to shoehorn Brexit in because it increases viewing numbers. Greetings from civilization 🇪🇺
Farms worth 2 million will have to find 200,000, those worth 3 million, a typical family farm in many areas of UK, will pay 400,000 inheritance tax. Where can they get that money from? I suppose if given enough notice, they can make their children shareholders over years. Small gain for the government for huge PR disaster.
I am sure that there are many possibilities to give the inheritance to their children without paying this tax. They have now time until 2026 to find a way....
Talking of "Re"joining the EU is dishonest, disingenuous, and, in many ways, counterproductive. When the UK joined the then European Common Market, there were only a handful of members. Nonetheless, it took eleven years to persuade the existing members to accept our application. To join now, britain would need to convince 27 member states to agree. Please believe me speaking as a European citizen who follows our politics closely that will not happen. Brexit is a forgotten item in our lives. You were one of the three most powerful and influential members of the biggest trading block in the world, with exemptions and privileges enjoyed by no others. Then, you voted to become an irrelevant nonentity, an outsider ! It is too late now to press your face against the window and beg to come in out of the cold rain of brexit reality. We have plenty of problems of our own which we are working together to solve, but you are not one of them, and never will be again. Enjoy your sovereignty!
@@brianferguson7840Being disrespectful towards this country is just rude, and don't try and dress it up otherwise ! Describing this country as a nonentity and irrelevant, when infact British tax payers are helping to pay for the security of Europe by sending arms to Ukraine and are also a major player in NATO. So I should be careful before you slag this great country off because you might one day need our help if Putin decides he wants a few EU countries for himself!
Pritti Patel. Once threatened Ireland with starvation. Britain imports up to 70% of it's daily food requirements. The Whole of Ireland population 6 million. It's food production could feed in excess of 25 million. ONS CSO. 🇮🇪🇪🇺
My sympathies from NZ for being a targeted minority. The irony here is that huge areas of agricultural land owned by Corporations, and retirement funds will not face these attacks, and there is the rub. You need no further rationalization to see that this is about absolute top down control of land by proxies no different to communism in their scope.
Everyone but the billionaires are paying for the cost of Brexit. The only classes protected are the super rich. Upper class, middle class and working classes are all in the same boat. Plus someone has to pay and some would say ‘generational’ farms may have the broadest shoulders amongst the above mentioned classes.
is it a possibility that instead of investing 100s of thousands on equipment, adding to your inheritance bill, you could employ more actual people and create jobs, as well as avoiding paying the inheritance tax on the machinery value? Is this possibly one of the govts intention? Also, farms and land have seen a possibly 3 fold value increase over the last couple of decades, with no tax at all on the increase.
The person who ruined farmers was voting brexit and believing lying boris Johnson, 60 people in my town worked on farms for 25 years picking strawberry, raspberry, prouts, daffodils and hop tying, they were told no English and couldn't work on any farmers ,and were replaced by east Europeans, Should the economy be run for the benefit of farmers, 60% of food is important, they also jumped into bed with supermarkets and brexit, caused mad cow disease , Get a job in a warehouse or factory or retrain,they didn't subsidised the miner's of car workers, and steel workers, so much for global Britain
My theory is that the gov advisers are all working for the Tories//Reform and want to make the Labour gov as unpolular with as many voters as possible. This is just the latest round targetting farmers.
Liz, surely your proposals to government should focus on the sustainability of farming as an income driver rather than to focus on hoarding wealth. I think the uproar is completely wrong. Every industry faces the same headwinds. Let's make that way of life pay.
I'm a French citizen of 23 years and yes you're correct France 🇫🇷 is different. We have a completely different attitude to food and it's production. It's more about quality assurance and availability than price. Also children are taught to appreciate good food from an early age, three course school meals (with no nuggets and chips option ever)
i’m confused. If these farms were registered as businesses all the owner has to do is employ his children as directors and then in a few years resign leaving the business to continue. The Duke of Westminster transfers his property assets to the future Duke without much hassle. Just do a Farm version of his Property transfer
The property may be worth a million pounds or more but there is buggerall in the bank. The huge costs are out of proportion to the income of the farm. Possibly the farm will have to be sold to pay the inheritance tax. House included. Yet wealthy business people dont pay their share of tax. From a farmer in Australia (who wouldn't want to be anywhere else😊).
As a Labour voter and supporter i agree with Liz that this aspect of inheritance tax on farm land is misplaced, it obviously hasn't been thought through properly, and i really hope our new Labour Government re-think the tax plans and help to invest in British farming and good healthy food security for our future.
As a country, we don't believe that people are good at a job because their parents were good at that job. At least we don't believe that anymore. We should make it easy for people to get into farming if they are drawn to the type of work, study the industry and show aptitude for it. Hereditary jobs are not a good idea, sociologically as well as economically. The fact so many farmers are constantly unhappy is probably unrelated to the fact that they overwhelmingly inherited their job. They didn't go into it because they looked at what it involved, got educated in the field and found they were good at it. They just did what they were expected to do, or because it was all they knew. Their unhappy political engagement has been extremely damaging to the country, as well as their profession. I think it shows we need to stop farming from being an inherited job.
We didn't know what we were voting for, ring a bell Liz! You've been totally nieve thinking Labour had the best interests of farmer's at heart! You were so consumed and obsessed with Brexit, you actually convinced yourself Labour was the answer to the woes of farmer's and all because you thought Labour would reverse Brexit, regardless of what they said in their manifesto!
In my area, land is £20,000 per acre minimum. This would mean a 1000-acre farm would need to pay £4000,000 in IHT. The average 1000-acre farmer also has a £1000,000 bank loan, or working overdraft. The charges will be 100% against the land. The land value will have just tanked I would say. This will mean that banks will be wanting their money back sooner rather than later which will be an at the moment an unforeseen double whammy. If the above mentioned 1000-acre farm decided to sell some land to raise the £4000,000 required to pay the IHT you would also be subjected to capital gains tax on that sale. Like I have said many times before Liz, farming has been in decline since the 1970s. Good luck to you all and God bless our people of the land.
I see it, as the thin edge of the wedge looking extremely bleak not only for individual family farms but the whole country, a British shortsighted mentality of cutting off our own nose’s essential for what?? This country has been predominately run by Tory lead governments, the damage long and sustained we’ve sold off the Crown Jewels piecemeal, we’ve sold ourselves off with Brexit and now as you rightly say sold the farming industry off too. Nil food security, obesity to name but one of many diseases a hanging on by thread NHS , how would that cope?? Our wealth is our health.. not good,not good at all😢 maybe rejoining the EU may save our beacon but so would more radical thinking rather than retail politics 🤞🏻🤞🏻🤞🏻we can only hope!
I used to have to get up quite early for work and often listened to the Farming Today programme on BBC R4. We nicknamed it the Whingeing Farmers Show. Every morning they’d be moaning about something or other. Most farmers prior to Brexit were subsidised in one way or another by the EU, yet they voted in their thousands for Brexit, just as the fishermen did in spite of much of the seafood caught was exported to Europe. As far as I’m concerned, they’re reaping what they sowed. OK, I know not all farmers were Brexiters, many hundreds voted to Remain. But the UK wouldn’t be in the financial mess it now is had we remained in the EU. I can sort of understand what they’re saying about IHT but, TBH, it’s difficult to differentiate between them and any self-employed non-company business that have expensive buildings and equipment. Surely their best plan would be to form a company, so that the fixed assets don’t legally belong to them. I’m sure there are ways around the issue. If the Duke of Westminster could find ways to minimise IHT then I’m sure the farmers can.
If you read the comments, I would say to a farmer who asks me what he should do, sell everything before it gets worse and many farmers want to sell. They don't deserve to slave away for many idiots who have no idea that farmers also work at the weekend to feed the residents for a return that is a joke for the risk they take! 50% of GB farmers already have huge problems due to a lack of EU subsidies and planning security. What GB has been planning for farmers since the Tories in 2020 will then develop in stages in harakiri! Estimated 50% loss for farmers in the future, probably more, even the dumbest idiot should understand when there are suddenly 20-30% fewer farmers what the reason was, BREXIT Labour must and will have to change course, otherwise it will end in a DISASTER that is difficult to repeat!
@ 11:14 a noose around your neck? Really? Get out of it then, stop forced child labor (lucky your own children we hope), pay some farmworkers in accordance with the living wage act. A farm is a business like any other family business, only the materials differ.
Good morning to Schwerte! Isn't it funny that at one point she says one needs to keep personal feelings out of this matter, like when others complain they need to pay inheritance tax on other businesses, but then she points out the deep personal feelings about farms being owned by one family since generations ... 😂 The farmers should do what my grandparents did and soon will do again (they're in their nineties): gift your children and grandchildren those parts / percentages of your assets that go tax free, then wait for the required period of time, then do it again. Problem solved. Fully agree about child labour, and does she not pay her children a salary in those 2 or 3 decades?? A salary that's taxable?? So they are paying their grown up children pocket money and hence avoid paying taxes?? So many questions .... Dir ein schoenes WE und liebe Gruesse vom Chiemsee
@@EllieD.Violet (“The distinguishing mark of man is the hand, the instrument with which he does all his mischief.” ― George Orwell, Animal Farm), like in farmers voting for Brexit. Vielleicht verstehen wir die EU nicht, die Brittons scheinbar nur wenns um das Geld in den taschen geht. Ein super WE von der Ruhrquelle auch dann. Happy hogging all.
@klausmohr522 Nochmal Moin Moin! Sie waren schon beim ersten Mal nur auf Geld aus, waehrend 47 Jahren nur auf Geld aus, wind jetzt nur auf Geld aus, waeren es in der Zukunft.
@@EllieD.Violet Schoenen guten Morgen in das land des immer fließendem Hefe Weissbier auch vom Krombacher Pils land. (Die Leute hier werden denken ich sei wohl verrückt hahaha. :)😆🤣☺Alle Kanäle hier auf YT die diesen Brexit besprechen haben das alle gemeinsam, wie können wir unsere Taschen wieder füllen. Es wird wohl nie anders werden. Die EU muss nur näher zusammenwachsen und endlich Nägel mit Köpfen machen und die Briten auf ihrer Insel in Ruhe weiter muddeln lassen! Für Amerika sind die sowieso nur ein Festverankerter Flugzeugträger vor Europa/Russland genauso wie Taiwan and die Philippinen vor China. Genug davon, macht nur deprimiert. Nun gut, für alle die nicht so gut Deutsch verstehen, use Google translate. Have a super weekend all, I know I will! :)
NO USE BLAMING LABOUR FOR THIS AS TORIES LEFT A DOGS DINNER FOR LABOUR TO CLEAN UP INSTEAD IF A DECENT DINNER IN CANTEEN,STARMER DID SAY IT WILL GET HARDER BEFORE BETTER, WE ANT WISH AWAY 3 TRILLION POUND DEBT CAN WE ??
@@martin4787 AND TORY MEANS ROBBERS ASK ANY IRISH PERSON, LABOUR WAS A FAR BETTER GOV THAN TBE CORRUPT LIARS YOU MUST FOLLOW. AREN'T YOU ASHAMED FOR VOTING FOR THOSE CRETINS ?
@@lizwebstersbf You have to pick between arguing for food security or for family farms. Factory farming is more efficient, and farming to lower standards increases the amount of calories produced. Family farms, sustainable farming, ecologically justifiable production and animal welfare are all very worthy goals, but they come at the cost of basic food security.
@@lizwebstersbf It will get worse for all of us before it gets better. So we have to buckle up and try our best to make it work. Start putting pennies under bed for the kids, may be the best solution :)
There was a fantastic podcast by Fed by Farmers with an agricultural accountant on - brilliant lines - and over the knee jerk reactions with real numbers involved. Please please, go and speak to an agricultural accountant and a lawyer - and get it sorted before it comes in. There are ways that these things can and will be sorted. And, the one benefit of it - the big pension funds will no longer buy up loads of land - and proper planning brings down the number who might be hit to about 20% - and even those can resolve many ways through as well. AND - email to your MPs to demand that this is reassessed - bring in a limit yes - but bring it up to £5m because if you're going to include everything!
The lady (Charlotte?) from the farming show said that the value will include “other businesses”, but presumably those non-agricultural businesses will already be subject to inheritance tax? You may be justified in calling for a higher limit but you still haven’t explained why current the exemption is fair? I speak as someone who paid inheritance tax 3 years ago, although I understand that your circumstances are very very different, you must understand that this is not equitable at face value. I would far rather have better farming subsidies so that you don’t see it as a charity or a custodial service, but a career that provides a decent standard of living; enough to pay your fair share of tax.
And people will still blindly deny that leaving the EU and voting for Brexit was worst decision in British history.
It was a great decision for the EU: a rude, dishonest, negative, obstructive country left.
They shouldn't have voted Brexit then !!!!
What on earth is the relevance of Brexit to do with it.
Rachel Reeves allegedly couldn't manage her credit card payments.
Is that because of Brexit? But she was made the Chancellor of the Exchequer?
Most didn’t as it was not in their interests.
@@nicholasdickens2801 Wrong! Most did. The referendum turnout was exceptionally high compared to any of the general elections in UK in this century. 72.2% turnout of an electorate with some 46,5 million voters. The leave voters won with a 3,8% margin. You can not say for sure what those who did not vote at all thought about remaining or leaving but needless to say they were obviously happy with whatever the outcome would be.
Reforming agriculture in Britain from a backward subsidised business model to a modern efficient one is needed. It’s never going to happen easy, but it’s inevitable and necessary so that Britain can reduce its imports of food.
Where was their fury when they and fishermen voted for Brexit??
After Brexit. The proposed usa deal with the American agro companies looking to expand. Expected them to undercut UK farms then snatch them up at cheap prices. Looks like we will not need to have a USA deal for this to happen....
Farmers are mad because their scam has been called out.
This is the result of Brexit and the UKs dwindling tax receipts. Majority of farmers voted for Brexit (yes they did) and now they’re moaning they might have to pay some more taxes to make up for that disastrous decision. No sympathy from me.
The UK and the EU have declined over 50% economically compared to the USA in 15years. IMF figures not mine. The EU was and is the problem to Europe's declining tax receipts
@@garyb455 No Gary, not true
@@garyb455 *"The UK and the EU have declined over 50% economically compared to the USA in 15years"* - Not true. Yes the US is growing faster, but then that's true of most countries and regardlesss has NOTHING to do with the EU or EU membership. If the UK had not been a member of the EU we would be even further behind the US. There are no "deals" or "arrangements" out there in the world that could posibly hope to give us more than Single Market membership. If you think there is, name it!
Oh no, wealthy people expected to pay less tax than working people. What a shocking decision, I'm disgusted........
WOW, they will be expecting the 'ROYAL FAMILY TO PAY TAX NEXT'. Na'h I was just kidding.😆😄😁......
Most farms are asset rich but cash poor. We need family farms to produce quality food … otherwise it will be from factory farms or imports where you don’t know what the quality of the produce is.
God would you listen to these entitled twats. Never gave a toss about anyone in their lives and now crying over 20% tax bill above £2m when the rest of us pay it at 40% over £325k. If a £3m estate can't handle a £200k one off tax maybe they aren't the right people to take over a business that size. Plenty of young farmers out there eager to get a start and buy their own land. Those who can't find the money can sell 20% off to them and still be left with a massive farm.
Post Brexit Britain 🇬🇧
Half the country clutching their pearls!
Half the country clutching at straws!
Nice one
@@frankoneill5675
Thank you !
Mrs Webster is obviously a poor family farmer struggling to survive the present conditions imposed on her ! "Just look at the hovel she is forced to live in"
I grew up in Groningen The Netherlands.The people who worked the land for the farmers were treated like muck.My mother hated the farmers for that reason.
Working on a uncle and aunt's smallholding of about 80 acres in the mid 70s he told me it was one of the few remaining independent farms left in that part of the Trent Valley, the majority were owned by "City money". Almost all were then and are owned by companies. Most of the great estates remain in trusts for the benefit of families who have owned the land for centuries and are not subject to Inheritance tax. Today most of the bigger farms growing say, fruit and veg are contracted to big supermarket chains who demand the farms can only sell to them. The free market is a myth. This did not start under the new Labour government or even past ones, for all their shortcomings. There is NO real agricultural plan. Farmers can't have it both ways.
The problem is the big corporate world is catching up with the farmers, just has it has done with everyone else. And if you don't make money you will be thrown to the wall. 'WE HAVE ALL BECOME AMERICANISED' like it or not! greed and profit nothing else matters.
While i usually agree with your views on your videos Liz,in my area nr Exeter i know numerous farmers that didn't think twice about selling of land for housing development making large amounts of money,smacks of double standards to me
A farmer would sell his wife if he could buy a new combine with the money. Na'h just kidding, I think? 😆😄😂....
The rural vote helped take the refendum over the edge. So eat what you have sown. No simpathy from me.
I'll second that. With knobs on.
Absolutely couldn’t agree more. Let them eat taxes. While the poor eat cake.
@aob4214 If you have eaten today, it will be because of a farmer.
If you have eaten today, it is because of a farmer.
@@martinhambleton5076Including road kill ? (TiC). Still a good point you raised.
So farmers having to pay taxes. What is the country coming to? Wonder why Ms Webster is kicking up a fuss over this. Oh yes she is a farmer. If so called farmers don't want to farm, pay their taxes, environment, etc etc. then go and do another job, as everyone else has to. I think the lady doth protest to much.
More businesses are closing in Great Britain than are starting up, this began with Brexit and has accelerated since. This lack of investment and production is causing young people to lose hope in the UK and are considering emigration and actually going, in numbers that have grown 28 out of the last 30 months (figures up to March 2024).
Of all those arriving into the UK, an ever growing percentage are unqualified people with dependent families who need public services, but even more serious is those emigrating from the UK are in an ever growing percentage of qualified, experienced, educated young people, causing an expensive demographic shift that is unlikely to correct in the foreseeable future.
Farming output has fallen since Brexit by over a third, this has become irreversable as farm land has been repurposed or left to deteriorate beyond economical repair. Even though more food has to be imported as a result, the quality of imports is falling by every container load, not helped by the removal of quality checks and regulations being relaxed to allow farming poisons to be left in the products and hormones, artificial food enhancements and other contaminents, which are increasing health problems for the population and the health service.
Virtually no infrastructure projects have been completed since 2010, high speed rail lines are opening weekly in Europe, connecting cities in the entire continent with each other, internet, elctricity supplies, gas lines, water improvements have all teken a drop in the UK while all have improved in the European mainland.
My prediction for the UK, after reading many economic, logistics and demographics surveys and documents is not good.
Great Britain will now decline for at least the next fourty years, during which time it will become apparent to the population that rejoining the EU is imperative and preliminary arrangements will be attempted, Northern Ireland is fairing marginally better and is just about flatining, this will prompt an earlier reunification out of necessity and recovery can begin in, probably, the next ten years, followed shortly by Scotland.
Those condemned to living in England and Wales will remain behind the self imposed Iron Curtain for probably two to three generations or more. Sorry about that, but it's all in the eveidence, solid facts, numbers, that so far, have been ignored by the people, and deliberately hidden from the people.
My advice, emigrate. Or at least spend as much effort on education as possible, so that this type of catastrophic error can never repeat itself, however xenophobic the nature of the island dweller is.
Interesting, informative post. Not a prospect you'd wish on any country, whatever your history with them
@@frankoneill5675 I totally agree with you.
And Boris Johnson and Nigel Farage will sail off into the sunset, with £millions of our hard earned cash.
As a Romanov, will you be leaving Great Britain, Alexander ? 😊
P.S." ...Northern Ireland is FARING better..." (my caps). Education, education, education. 👍
Why should farmers be a special case? - miners and steel industries, ship building, manufacturing industries were decimated by tories - no farmers came out and said "oh, these are indusries necessary for the country's security" Why is it that if you own a farm you think you are God's chosen? I get taxed on the assets/money handed down to me - why shouldn't farmers be taxed the same? I don't sit £5million plus asset to pass on tax free to my children.
When did British farmers back UK industries? They bought forign machinery, ran forign vehicles all on the farm - they've done bloody well. Mining was a way of life, steel was a way of life, car building was a way of life, shipbuilding was a way of life, engineering was a way of life, merchant marine was a way of life, Aircraft construction was a way of life......If it's so bad get out! If you have to rely on jeramy clarkson for your case, your on dodgy ground.
Why don't you turn your farm into a limited company then the company would own the farm, then the "children could buy" the shares and pass the land down that way. Oh but you would have to file accounts open to the public!
My oh my, how the privileged squeal when they don't have things the way they want.
Why should the very people that actually work 365 days of the year, and feed us, be considered a special case.
Funny enough we can live without steelworks, coal, but food ? well give it a try, and see how you go.
Shame you haven’t got a clue !
@johnbull2592 yes I have, I worked in farming for over 12yrs putting in drainage, cabling, and ground work systems - that included many highly profitable farms which produced high quality products both arable and livestock - by and large, they were large companies which owned/controlled huge acreages. I don't buy this "only heavily subsidised family farms" can produce good food. The output in this country from large company owned farms is amonst the best, and the welfare is high as they can afford the vetenry costs. Some of them are family run companies, but companies they are. Small family run farms may have had their day, as with other industries - and farming is an industry.
@@trytellingthetruth.2068 try telling that to the mining towns, or steel industries. Yes, parts of society can live by importing steel from other countries, like farmers did with tractors and plough shears etc. Well a lot of people will buy their food from other countries. My blue berries come from north africa, some of my milk comes from abroad, the chicken is of foreign origin, eggs from Wales (usually) we like a form of sausages which is made in France, just been through our larder and quite a lot of it is in whole or part from abroad - so it appears we are not so dependent on small family farmsteads. Oh, and I spent 12 plus yrs working on farm land, mostly for large corporate very profitable farms, who produced good quality product, paid well and could afford to take good care of their livestock - and paid their tax.
As an ex-mineworker and someone who has been self employed for over thirty years (now retired}. I don't think that breaking up small farms will be in anyones best interest, our food supply is too valuable to gamble with. This policy needs to be amended.
Hospices and genuine charities have not been thought about in this budget with the NI, Farming is not in the same trust bracket with the public, but they have lost the EU subs lately {many of them did fall for that} But tax dodgers have been buying up agricultural land to avoid paying, so this one is complicated, wouldn't like this one to sort out.
SO i heard a farm owning Married couple could have £2 million exemption from IHT
If there's no money in farming then why is the land worth £millions? Perhaps because it has become a tax-efficient investment since the 1992 IHT changes, as Liz said. Now that exemption has been withdrawn, the value of the land will fall, along with it the IHT liabilities.
The problem is Labour ideologically isn't really aligned with farmers who pass on land and assets, as in they aren't valuable voters to their base, but where farmers really got conned was with thinking the Tories and Brexit were their allies. I know not all farmers voted Brexit, but lets not kid ourselves, they are vastly conservative inclined. The tax loophole needed to be closed to stop the rich buying the land but really in terms of strategic defence with more than half our food being grown domestically I think Labour should have made more of an effort to subsidise small farms. The most important take away I think is that farmers remember how bad for everyone the Tories were, as in they will just steal everything and then abandon you as they represent the super wealthy.
Farmers have always wanted to have their cake and eat it, while having someone else pay for it, "in their taxes". Rich farmers with huge financial assets should pay their share. Smaller "Family" farms wont be affected in the slightest. It's a pity that a large number of farmers chose brexit. ISN'T IT ??? Mrs Webster was very happy with the new labour government until she might have to give up some of her own wealth in taxes, what a hypocrite 😢😢😢
If you can't earn enough money from your multi million pound farm to pay the tax that everyone else has to pay, then sell it to so that somebody else can.
The Tories have always supported them.Those days are over.
@@foppo100
It's time for some genuine leveling up and some leveling down to be implemented to impose a little fairness in British society going forward.
The farmers and fishermen have now felt the loss of the fat cat EU subsidies and are crying foul. Their businesses need taxing like any other.
@@klausmohr522
And if they can't make their business work without taking "our" taxes. Sell it to someone who can.
Who was behind it, your circus man boris, get brexit done remember, where is he now, and who kept you living when he and mutley crew having parties during lockdown, the farmer
What a completw crock. Farmers can easily reduce their exposure to inheritance tax by giving away shares in the farm to the kids as lifetime gifts, or taking out life insurance to cover a likely tax bill. As for food security, if they end up having to sell land, some other farmer will buy it and continue to produce food on it. This is just closing off a loophole which was largely there to protect wealthy landowners.
No other farmers won't buy it.. it will be bought by big companies from abroad as investment..they turn it into wild flower meadows. Its already started happening,
Very, I recently highlighted the 7 years tax free inheritance gift route. You do have to get the timings right on not dieing, but we all have that problem. If your passing it to a legitimate aire, to continue the good work of the family farm, do that. If your jez clacksin, pay your taxs on your hobby business.
@@brendanpells912 you can not gift an asset and use it without paying a rent on the asset. There is a large amount of anti avoidance legislation about this.
Did the 1st poor farmer vote for the Brexit. Imagine a "CAP" that was once the Norm across 28 independent Sovereign Countries.
No Empire.
No EU.
No Staff from 27 independent Sovereign Countries of the EU.
Shame. Oh. The shame the shame.
🇮🇪🇪🇺
Range Rover and Land Rover and the huge 4x4 flatbed manufacturers will also be sh*tting themselves, but it will make the roads safer for the rest of us.
As to farms selling land, farmers do that anyway to developers almost whenever they can. If they are not already wealthy, they will be after selling significant land to developers and most can carry on farming. If not they have the money to buy another farm and more besides. Buying land to avoid paying inheritance tax is a big fiddle, diddling the tax due and should have been closed. The money farmers make on food is a separate issue and should not be conflated. It's Brexit and over powerful oligopolistic supermarkets. Some farmers make a lot of money out of beef, chicken farming or arable, but small farmers, tenent farmers and hill farmers need subsidy to operate and should get it, but the Treasury tried to cut subsidy at EU level and now they can do that in the UK easily, after the Leave campaign lied about everything and everything has got worse.
Pay your bloody tax !!!!!!!!
Food is more important than HMRC's tax.
@@Jacky5299 HMRC tax=vital infrastructure ,NHS,Schools ect.
The farmers aren't being asked to do anything the rest of us are expected to do.
After 14 years of the poor being clobbered with austerity its about time the tax system became fairer.
@starsnstuff842 the tax of envy then! Who is going to grow your food when we lose our farms, dumb ass!
The majority of farmers voted for the party that plunged the uk economy into this situation in the first place. You must take some responsibility for your predicament that you’re now find yourself in. Perhaps not voting for Brexit would have been a good start!
The UK and the EU have declined over 50% economically compared to the USA in 15years. IMF figures not mine. The EU was and is the problem to Europe's declining tax receipts
@ Hard to see the relevance of those stats. It’s just people still trying to justify Brexit without telling us what the benefits were. ???
Now, most people in the UK know it was a con and our economy is wrecked, despite Tories Govt trying desperately to hide that damage from us. It’s often quoted in the media that the UK is “The only country to put tarifs upon itself”
@@garyb455 UK has not been in the EU since 2020. It is all your own problem now.
Liz, farmers should be treated the same as any other business. They knew the risks when they started their business, so just like any other manufacturing, craft making, food and beverage, etc etc they take their profits do now carry your losses. We all know they (farmer's) miss the EU subsidies, just like fisheries. As an example, every business is family owned, they all would like to hand it over or down to their chosen heirs. But farmers as always what to operate under the animal farm motto, “All animals are equal, but some animals are more equal than others.”
― George Orwell, Animal Farm, tuff Liz, guess what, King or Queen, Citizen or Pauper, we are all the same and you know, we all bleed with the same kind of color blood. So, farmers, muster up and pay your dues to society. Now let's see who far your democracy goes or if this comment will be deleted again. Cheers.
Farms are a victim of increasing house and land prices as much as anybody else. The government have just come in to harvest their tax money. This won't be good in the decades to come. I was honestly shocked to realise there were some farmers who actually voted Labour thinking that they would be worth a chance. An example of people not bothering to learn about what their voting for.
@@klausmohr522 what a stupid comment, you do realise that large corporates do not pay IHT so by taxing family businesses like this they will just close and be handed over to large corporations. Get the large corporations to pay a 20% asset tax every 80 years to make it fair then…..
Most farmers voted for brexit therefore and in consequence let them eat cake.
@@dalogan7290 really they didn’t. This is untrue.
Only a remainder can equate Labour's new inheritance tax for farmers with Brexit.
@ unfortunately it is true, same as the fisherman. Not all of you guys but most bought the lies and the scum party and now after not listening to experts you guys are getting into reality. Unicorns are good in kids books not in dealing between countries.
@@lizwebstersbf How do you know?
Most British people voted brexit, let them eat cake?
Dear Liz, told you so... Remember what you government decided? Small reminder: "The agricultural transition will deliver the biggest changes in English agriculture policy in a generation. Over 7 years from 2021, we are taking England out of the EU’s Common Agricultural Policy (CAP) and are phasing out subsidies for land ownership and tenure, radically improving our services to farmers and land managers."
Before Brexit, the CAP ensure financial support for farmers around EU. Now, it is "...phasing out subsidies for land ownership and tenure, radically improving our services to farmers and land managers." You face now these new "Brexit's services to farmers", like it or not. And don't hope EU to help UK...
ALL farmers do is whing. If you can't run a business than sell up and let someone else's do it. Sitting on 5 million pounds of land. Yeah I feel really sorry for ya.
Feeling the loss of European "Free money" for being inefficient in business terms. Well my heart bleeds for you.
You're talking bullshit of the highest order! Imagine that the landowners sell their land and make a quiet life with the money in the south.
Then imagine that I come, we have enough investors and money, and we buy up the land of the GB farmers. Then we will implement the latest concepts and drive up the prices of products so that people can still afford it, but with great pain!
This is exactly the strategy they are implementing and GB can expect exactly the same! We don't do things like this because of ethics. Hedge fund locusts don't have ethics in their minds, they just want to make more, more money
@@brianferguson7840 And didn't the farmers say, they were the MOST productive industry in the UK. (OR WAS THAT THE SUBSIDIES SPEAKING).
My worthless cousin is about to inherit £15 million of land, Im over the moon he has to pay tax on it. He is 45 it will be the first tax he has paid in. his life.
@@piccalillipit9211 And I expect he will complain about that, he will make a fine farmer!.
A farmer dying is generational, they have exactly the same 7 year window to pass over assets without incurring tax. Why should the farmhouse be included with the land and so be tax free The large landowners have milked the tax rules for years, I don't see much food coming off the large shooting estates. There is nothing wrong with this new IHT rule just maybe tweak the thresholds. As for less farms this is unlikely, just less small farms without threshold changes
My worthless cousin is about to inherit £15 million of land, Im over the moon he has to pay tax on it. He is 45 it will be the first tax he has paid in. his life.
corporate socialism for farmers ends now.
We are all crying for the millionaire farmers.
Because they produce food, something everyone needs.
you will be crying when food prices go up beyond what you can afford. Farmers should not be subject to this tax
@@Jacky5299 Like everyone else the farmers, if they are left a £10m farm, will need to finance the Inheritance Tax. Doctors and nurses do good but they are still taxed.
@@picking4profit The tax is paid when the farmer dies, so it can't affect food prices. If the farmer leaves the farm to someone who wants to carry on farming then they can borrow the IHT like everyone else.
@@michaelwilliams2337 it affects the food prices if the farming business is closed down to a lack of funding. You can't keep financing your way out of debt.
My uncle retired and sold his farm to fund his retirement. In the 1990’s. Nothing changed. Someone else got the opportunity to buy and farm that land.
Who in their right mind waits until they die (in their 70’s / 80’s / 90’s before they give the farm to their heirs? None of this makes any sense.
Plus.. any iht can be paid over ten years. Not available to anyone else.
It’s a tax dodge. Plain and simple.
Farmers as a breed can't cope with the concept of handing over control to younger folk who may have better more modern ideas.
lol you reap what you sow farmers lol shoulda not of been voting tory and brexit these past 14 years lol
There is an ancient MAYA prediction about the end of the world: It will happen half a year after farmers stop complaining!! 🤣🤣
Now that is funny !😂😂😂😂😂
Good 😊. Means that mankind even will survive the worst climate change and huge asteroids hitting the planet, like the ones that killed off the dinos.
Liebe Gruesse nach HH!
@@EllieD.Violet I will buy my new tractor then!! 😂😂😂.....
Poor millionaire farmers 😢
🎻🎻🎻🎻🎻🎻🎻🎻🎻🎻🎻🎻🎻
If I died owning a property with or without land if my property falls into the inheritance bracket my estate would be subject to IHT . Why should farmers always be considered a special case ? They have been subsidised all my lifetime what other business has had that , farmers secondary business is complaining they always have and always will . So pleased that this Govt are bringing farmers into line with other business owners , they are not a special case.
If they weren't subsided then you would pay an awful lot more for your food.
@@robwillcox2307 And who is paying the subsidy, is it Vladimir Putin, or is it Elon Musk?
Depends on whether you want quality local food or not
I love the sound of landed gentry squealing in the morning. It sounds like...justice.
But, but, but, It's my millions and I want to keep it all in the family ! Let all the "other" people pay "my" taxes. It's not fair 😭😭😩
I will love the sound of squealing townies when you can't afford to buy food
@@michaelpriestley7816 Tell me, do you countries still tug your forelock to your owners, or just let them sleep with your daughters before their husbands on their wedding nights?
remember that when food prices are out of your reach and you are hungry.
@@picking4profit Food prices are already out of reach for a record number of people because of right wing policies- hence the tory/brexiteers foodbanks.
If there is no profit in farming why are you existing?
Farming is a 1% return on investment roughly.
If anyone of us went on Dragons Den with that sort of business plan you would be slow clapped out of the room.
The investment is huge the return is dire.
For instance an average 1000 acre farmer in the UK will have a one million pounds working overdraft. Quite obviously the charge will be against the land itself.
On the said 1000 acres the IHT would be in excess of four million pounds taking into consideration the house and buildings. At this point I would imagine that the banks who have been fairly happy to give the loans will be wanting their money back.
At a land value of £20K per acre the IHT would be four million pounds. If land was sold to pay the IHT, then capital gains tax would also have to be found on the sale.
This has a strong smell of "expert" about it. Let's face it a Chancellor of the Exchequer that couldn't manage her own credit card is totally unbelievable in itself.
Good luck to everyone of you.
God bless you all.
Food security. A country should try to protect its people from starvation should world conditions move in that direction.
@@lellyparkerThat is the main point Liz is making over and over.
@@lellyparker And the world conditions are moving in that direction.
These wealthy scroungers are always griping and miserable about something, they're like Irish loyalists,they need to pay their share,pay their way and stop blaming everyone else for their mistakes in voting for Brexit.
David Cameron was not a Remainer. Other than saying he was a Remainer, nothing he did was consistent with Remain. Yet he occupied the role of chief spokesman for Remain - a thoroughly compromised advocate, arguing against his own proposition.
He was compromised because he'd failed massively on promises to reduce immigration. Promises contained in the third manifesto he'd authored demanding an in/out referendum. (2005, 2010, 2015) Yet, with a 100 seat majority, he pretended he was forced into a referendum he didn't want, to 'shoot the UKIP fox.' He didn't even try to reduce immigration - quite the opposite. Immigration increased threefold between 2010 and 2016, and yet he kept his Home Secretary in place for six years, until he lost the referendum for Remain, left abruptly - no questions, and she then became Prime Minister in a presumed quid pro quo.
He sought to renegotiate the UK's relationship with the EU weeks before the vote; publishing a long list of complaints in all the papers. He cancelled the EU ID card. He formed the ECR in the EU Parliament with all sorts of eurofascist parties. He promised to enact the result of an advisory referendum - which was not his call. That was Parliament's decision; and when they made that decision - UKIP were outside threatening violence, while Jo Cox seat in Parliament was filled with flowers, and the Daily Mail were calling judges 'enemies of the people.'
What I do not understand is why no one in the media or in Parliament expressed incredulity at his claim to be a Remainer. No-one suggested it was not appropriate for him to monopolise that role to the exclusion of those who might have made an honest case for the benefits of EU membership - to counter the tidal wave of disinformation people were targeted with by the Tax Payer's Alliance, Cambridge Analytica and others.
As an EU citizen... (I'm British. I just don't accept brexit was legitimate) I have a right to free and fair elections, and that wasn't free or fair. It was fraud. Not least on the part of the then Prime Minister - now Baron Cameron of Chipping Norton.
Is Misconduct in Public Office a crime? According to google it is; misconduct in public office is a serious criminal offense in England and Wales, with a maximum sentence of life imprisonment. One might have thought the former head of the Crown Prosecution Service would be aware of this law! And that any credible politician would have known David Cameron was not a Remainer!
I wonder if farmers will raise the issue when they come to London next week to discuss inheritance tax?
The vile Scameron, like every English "PM "before him, spent a lifetime bashing and blaming the EU and portraying it as an enemy. The English got exactly what they deserve. They do not deserve EU membership. So glad. those liars are out.
Blame Brexit. If it wasn't for it, this problem wouldn't be here.
I have to say. You farmers really know how to mess yourselves up.
You must make Brexit work for britain. You have absolutely no other choice. Europe certainly doesn't want you to return to the union. Financially, you can not meet the national debt limit of 60% of GDP even in order to apply for "consideration" ! Your parliamentary system makes it impossible for the 27 member states to take any application even slightly seriously. You could waste 20 years in alignment and fulfilling membership criteria, only for a change of government to overturn everything. You are the only country "EVER" to quit the union, and even then it was due to national "racism" " bigotry" and self perceived exceptionalism. The European Union is all about inclusiveness, working to a common goal, a common strategic ideal which England especially was never ever aligned to. Sure, there are some sensible and intelligent members of your population who understand the magnitude of your loss, but England remains a right-wing racist bigoted and deeply misinformed nation. Sort out your own many problems, but don't look to Europe for help or hope for the future. Your future is a lonely and isolated one, and one ENTIRELY OF YOUR OWN DOING.
Get stuffed, Brian. You’re just cutting and pasting the same old shyte..
@@davidhodgson3901 He isn't.
Go home Brian, we don't need you. We can discover new worlds and reap the benefits of colonization again! Watch this space! You will see us returning to Viva Britannica again just wait! #GOHOMEBRIAN #BREXTITNOW! #SENDTHEMALLBACK
@@davidhodgson3901
Are you saying that facts lose their importance and relevance with repetition ? I think not ! You will not become less irrelevant on the world stage with the simple passage of time. Also no-one it facing you to read my opinions. They may continue to find new readers who are more intelligent, open minded and insightful than your good self.
@@davidhodgson3901
Does repetition of facts render them less "True" or less relevant. I think not.
SO ...how many farmers voted for Brexit and and they have no say in this matter. They did this to them selves. As for those that voted to stay God help you. The government must help !!!
Horrible. Absolute nightmare.🤦♀️😳😳😳😳😳😳😳😳😳😳😳😳😳farmers should be excluded from this new law.
God ! I hope that's irony or humour 😢
Cant afford to eat well anyway atm its already here only the rich eat local farm food
Local farm food also goes into supermarkets
No farmer's market nearby?
@lacdirk
Who the hell on minimum wage can afford to buy at a farmers market FFS😮
Why are farmers privileged?
Because they produce something that everybody needs, the nation needs. Can you even guess what that is??
@@Jacky5299
What a silly answer.
Industrial farms produce more, produce cheaper, and produce more efficiently. Family farms are an unaffordable luxury.
@brianferguson7840 I purchase from local butchers, green grocers and eat quality fish from necessity. If you want to eat cheap, low quality rubbish be my guess. Just understand the health issues which come with that. There is a reason why people in the UK have the worst health in Europe. Wake up!!
Interesting. I see your point of view Liz but I think this raises a deeper question - why is it virtually impossible for someone who is not lucky enough to be born into a farming or super wealthy family to become a farmer? For them, it’s not just raising the 40% tax on value over £1 million (presumably £2 million for a married farmer), it’s how to raise 100% of the value over £1 million AND 100% of the £1 million too - impossible! As it is, even without inheritance tax, farms which go broke or are sold inevitably move into the hands of the elite. In effect, farmers are like another level of elite the the average Joe cannot aspire to and they are being squeezed out by the higher elite who will eventually end up owning all the land. It would be great if this trend could be slowed to a stop, ideally reversed and but I don’t know how. Meanwhile, this does go someway towards explaining the lack of sympathy from the general public for farmers being reduced to the level of the average Joe who can’t get a foot on the ladder.
I don’t know where my paternal grandparents are buried , give or take 500 yards, and none of my grandparents have a headstone.
Am I bothered about farmers ?
Why don't farms incorporate all the assets including living accommodation. Inheritance goes away as the company directors just change. Own nothing and be happy.
I'm not a farmer, although I live in a rural area, but I have some sympathy with genuine small family farmers, who find that their land is worth more than a million just because of the rise in land prices.
That said, there are a lot of people whinging with whom I have no sympathy at all. You mentioned Clarkson in your piece. A rich celebrity gobshite who said that he went into farming specifically to avoid inheritance tax is probably not the best advocate for your cause. He may be an outlier, but there are a lot of landlords and genuinely wealthy people who are complaining about their lifestyles being cramped by the budget, which makes it hard to see which are the farmers who genuinely deserve sympathy, and the ones who are just fat-cat land owners sounding off.
So land companies and big agri businesses get another advantage over the small farmers... brilliant.
Food security is so important, just look at the amount of hectares that are currently under water in Spain at the moment and then look at the % of food that is imported to the UK from there. The gov are shortsighted at best with this latest blindsiding towards agriculture.
We have a lot of land under golf courses,
exactly.
I’ve never met a poor farmer, and I don’t think I ever will.
@@Linda-u5x there’s plenty of poor farmers but not sure why that’s an issue.
@ Well it’s not an issue to me, I don’t where you got that from?
The real issue is being out of the EU and CAP. Dont get distracted. Relitily few will pay ifthey seek advice.
1) It is perfectly fair that when we inherit, i.e. have income that we have not earned, we should pay tax.
2) No inheritance income should be free from tax.
However
3) ROA (Return on Assets) is smaller for farming than for many other businesses, so
a) A business of larger ROA would result in the inheritor being able to continue to earn the same with no inheritance tax.
b) A business (farm) of lower ROA would result in the inheritor earning less, as they would be taxed on the nominal asset value.
Ergo
4) The new taxation regimen punishes low ROA business disproportionately.
5) Family farm business will be disproportionately affected and more likely to sell.
6) Farming will become a big business, owned by foreign companies.
A better model:
Tax when the asset is sold, based on the added value based on a metric for land value appreciation.
I think what we must remember is that 80% of working class kids will recieve not a bean in inheritance when their parents die. They will have to make their own way in life. I am also sure they would be happy recieving £1.000.000.+ and paying 20% tax. But I think this whole policy needs to be re-worked because what is the point of breaking up a small farm which will obviously be non viable with even less land. Also if farmers are selling off small parcels of land here there and everywhere will there be any buyers?, would you buy land which your neighbour was forced to sell to pay off tax debt? This is a crazy policy which will be unworkable and has an ex-mineworker who lost his job under Thatcher, and his winter fuel payment under Reeves I wonder what Labour are thinking about!. Seems to be another home goal.
There will never be any shortage of buyers for good land.
@@mmg9675 I thought farmers said they couldn't make money, that tips that on it's head then doesn't it. 😆😄😁😂🤣....
Small pieces of land sold off to build housing on, would raise sufficient funds to pay the tax commitment, "BUT WHO NEEDS HOUSING"????
Tax the landlords. Long overdue.
The UK can not grow economically until we ban private landlords, they are at a point now where they just suck every penny out of the economy
The increase in minimum wage - where do you think that will go...??? Rent increases next year.
Hardly a landlord when you're a farmer. How are you going to eat if HMRC take the farmers land.
Ok, this is fair enough for the small independent famer wanting to leave their small farm to their offspring. But what if the offspring inherits the farm and just sells the farm after a few years ?
what has this to do with Brexit?
Brexit puts a £40 billion hole in Britain's tax revenue. Coincidentally, the government has had to raise £40 billion extra in tax to keep the country running. Inheritance tax is part of filling that hole.
It;s a Tory thing. They''re encouraged to be greedy, and think the country is all about themselves.
Nothing. Like most annoying or stupid decisions in the past and the present, a UK internal nonsense, not EU related.
But Miss Webster needs to shoehorn Brexit in because it increases viewing numbers.
Greetings from civilization 🇪🇺
@@EllieD.Violet
Hi Ellie, greetings from France 🇫🇷
Farms worth 2 million will have to find 200,000, those worth 3 million, a typical family farm in many areas of UK, will pay 400,000 inheritance tax. Where can they get that money from? I suppose if given enough notice, they can make their children shareholders over years. Small gain for the government for huge PR disaster.
They have no intention for helping farming or the environment. We can all see that but we are no experts are we.
Of course you will have a say on how food is grown. That's what laws are for.
I am sure that there are many possibilities to give the inheritance to their children without paying this tax. They have now time until 2026 to find a way....
Talking of "Re"joining the EU is dishonest, disingenuous, and, in many ways, counterproductive. When the UK joined the then European Common Market, there were only a handful of members. Nonetheless, it took eleven years to persuade the existing members to accept our application. To join now, britain would need to convince 27 member states to agree. Please believe me speaking as a European citizen who follows our politics closely that will not happen. Brexit is a forgotten item in our lives. You were one of the three most powerful and influential members of the biggest trading block in the world, with exemptions and privileges enjoyed by no others. Then, you voted to become an irrelevant nonentity, an outsider ! It is too late now to press your face against the window and beg to come in out of the cold rain of brexit reality. We have plenty of problems of our own which we are working together to solve, but you are not one of them, and never will be again. Enjoy your sovereignty!
And there you go again. Tit.
Why are you being so rude to this great country!
@@Frank-pm9pr
I'm sorry if you mistake honesty and realism for a lack of politess, and consider truth to be rude.
@@brianferguson7840Being disrespectful towards this country is just rude, and don't try and dress it up otherwise !
Describing this country as a nonentity and irrelevant, when infact British tax payers are helping to pay for the security of Europe by sending arms to Ukraine and are also a major player in NATO. So I should be careful before you slag this great country off because you might one day need our help if Putin decides he wants a few EU countries for himself!
Hahahaha🇪🇺🇳🇱@@Frank-pm9pr
Shit running off into rivers anyone?
After water companies farmers are the second biggest environmental polluters in the country.
Pritti Patel. Once threatened Ireland with starvation. Britain imports up to 70% of it's daily food requirements.
The Whole of Ireland population 6 million. It's food production could feed in excess of 25 million. ONS CSO.
🇮🇪🇪🇺
My sympathies from NZ for being a targeted minority. The irony here is that huge areas of agricultural land owned by Corporations, and retirement funds will not face these attacks, and there is the rub. You need no further rationalization to see that this is about absolute top down control of land by proxies no different to communism in their scope.
Gift the farms assets in advance. 7 years early, easy, no inheritance tax.
Everyone but the billionaires are paying for the cost of Brexit. The only classes protected are the super rich. Upper class, middle class and working classes are all in the same boat.
Plus someone has to pay and some would say ‘generational’ farms may have the broadest shoulders amongst the above mentioned classes.
Hilarious ,,,,,,,,,,from a safe distance.
This chap has no idea what he's talking about. Shame on him.
is it a possibility that instead of investing 100s of thousands on equipment, adding to your inheritance bill, you could employ more actual people and create jobs, as well as avoiding paying the inheritance tax on the machinery value? Is this possibly one of the govts intention? Also, farms and land have seen a possibly 3 fold value increase over the last couple of decades, with no tax at all on the increase.
The person who ruined farmers was voting brexit and believing lying boris Johnson, 60 people in my town worked on farms for 25 years picking strawberry, raspberry, prouts, daffodils and hop tying, they were told no English and couldn't work on any farmers ,and were replaced by east Europeans,
Should the economy be run for the benefit of farmers, 60% of food is important, they also jumped into bed with supermarkets and brexit, caused mad cow disease ,
Get a job in a warehouse or factory or retrain,they didn't subsidised the miner's of car workers, and steel workers, so much for global Britain
My theory is that the gov advisers are all working for the Tories//Reform and want to make the Labour gov as unpolular with as many voters as possible. This is just the latest round targetting farmers.
Squealing and btw the sky is falling cos we’re loosing our special treatment 😊
Liz, surely your proposals to government should focus on the sustainability of farming as an income driver rather than to focus on hoarding wealth.
I think the uproar is completely wrong. Every industry faces the same headwinds.
Let's make that way of life pay.
Funny how the Brits aren't too keen on farmers. This would never happen in France.
I'm a French citizen of 23 years and yes you're correct France 🇫🇷 is different. We have a completely different attitude to food and it's production. It's more about quality assurance and availability than price. Also children are taught to appreciate good food from an early age, three course school meals (with no nuggets and chips option ever)
Dreadful what labour is doing. Disgusting.We need our Farmers and all the little Farms who look after the country side.
Spoken with true ignorance of a townie.
i’m confused. If these farms were registered as businesses all the owner has to do is employ his children as directors and then in a few years resign leaving the business to continue. The Duke of Westminster transfers his property assets to the future Duke without much hassle. Just do a Farm version of his Property transfer
It's all about "Ownership" not common sense.
The property may be worth a million pounds or more but there is buggerall in the bank. The huge costs are out of proportion to the income of the farm.
Possibly the farm will have to be sold to pay the inheritance tax. House included.
Yet wealthy business people dont pay their share of tax.
From a farmer in Australia (who wouldn't want to be anywhere else😊).
Then sell up to someone more competant
As a Labour voter and supporter i agree with Liz that this aspect of inheritance tax on farm land is misplaced, it obviously hasn't been thought through properly, and i really hope our new Labour Government re-think the tax plans and help to invest in British farming and good healthy food security for our future.
As a country, we don't believe that people are good at a job because their parents were good at that job. At least we don't believe that anymore. We should make it easy for people to get into farming if they are drawn to the type of work, study the industry and show aptitude for it. Hereditary jobs are not a good idea, sociologically as well as economically.
The fact so many farmers are constantly unhappy is probably unrelated to the fact that they overwhelmingly inherited their job. They didn't go into it because they looked at what it involved, got educated in the field and found they were good at it. They just did what they were expected to do, or because it was all they knew.
Their unhappy political engagement has been extremely damaging to the country, as well as their profession. I think it shows we need to stop farming from being an inherited job.
We didn't know what we were voting for, ring a bell Liz! You've been totally nieve thinking Labour had the best interests of farmer's at heart! You were so consumed and obsessed with Brexit, you actually convinced yourself Labour was the answer to the woes of farmer's and all because you thought Labour would reverse Brexit, regardless of what they said in their manifesto!
In my area, land is £20,000 per acre minimum. This would mean a 1000-acre farm would need to pay £4000,000 in IHT.
The average 1000-acre farmer also has a
£1000,000 bank loan, or working overdraft. The charges will be 100% against the land.
The land value will have just tanked I would say. This will mean that banks will be wanting their money back sooner rather than later which will be an at the moment an unforeseen double whammy.
If the above mentioned 1000-acre farm decided to sell some land to raise the £4000,000 required to pay the IHT you would also be subjected to capital gains tax on that sale.
Like I have said many times before Liz, farming has been in decline since the 1970s.
Good luck to you all and God bless our people of the land.
On death there is no capital gains….
@christinepenfold7947 That wasn't what I said.
If you sold some land to raise the four million pounds. The capital gain would be paid on that sale.
I see it, as the thin edge of the wedge looking extremely bleak not only for individual family farms but the whole country, a British shortsighted mentality of cutting off our own nose’s essential for what?? This country has been predominately run by Tory lead governments, the damage long and sustained we’ve sold off the Crown Jewels piecemeal, we’ve sold ourselves off with Brexit and now as you rightly say sold the farming industry off too. Nil food security, obesity to name but one of many diseases a hanging on by thread NHS , how would that cope?? Our wealth is our health.. not good,not good at all😢 maybe rejoining the EU may save our beacon but so would more radical thinking rather than retail politics 🤞🏻🤞🏻🤞🏻we can only hope!
Food security. Had the Labour government devised a FOOD SECURITY PLAN?
If there are more than 1 child and they don't want to work together the farm is split pluss the tax
I’m surprised they produce any food with the amount of whining they engage in.
You don't like eating then?!
I used to have to get up quite early for work and often listened to the Farming Today programme on BBC R4. We nicknamed it the Whingeing Farmers Show. Every morning they’d be moaning about something or other. Most farmers prior to Brexit were subsidised in one way or another by the EU, yet they voted in their thousands for Brexit, just as the fishermen did in spite of much of the seafood caught was exported to Europe. As far as I’m concerned, they’re reaping what they sowed. OK, I know not all farmers were Brexiters, many hundreds voted to Remain. But the UK wouldn’t be in the financial mess it now is had we remained in the EU. I can sort of understand what they’re saying about IHT but, TBH, it’s difficult to differentiate between them and any self-employed non-company business that have expensive buildings and equipment. Surely their best plan would be to form a company, so that the fixed assets don’t legally belong to them. I’m sure there are ways around the issue. If the Duke of Westminster could find ways to minimise IHT then I’m sure the farmers can.
If you read the comments, I would say to a farmer who asks me what he should do, sell everything before it gets worse and many farmers want to sell. They don't deserve to slave away for many idiots who have no idea that farmers also work at the weekend to feed the residents for a return that is a joke for the risk they take!
50% of GB farmers already have huge problems due to a lack of EU subsidies and planning security. What GB has been planning for farmers since the Tories in 2020 will then develop in stages in harakiri! Estimated 50% loss for farmers in the future, probably more, even the dumbest idiot should understand when there are suddenly 20-30% fewer farmers what the reason was, BREXIT
Labour must and will have to change course, otherwise it will end in a DISASTER that is difficult to repeat!
@ 11:14 a noose around your neck? Really? Get out of it then, stop forced child labor (lucky your own children we hope), pay some farmworkers in accordance with the living wage act. A farm is a business like any other family business, only the materials differ.
Good morning to Schwerte! Isn't it funny that at one point she says one needs to keep personal feelings out of this matter, like when others complain they need to pay inheritance tax on other businesses, but then she points out the deep personal feelings about farms being owned by one family since generations ... 😂
The farmers should do what my grandparents did and soon will do again (they're in their nineties): gift your children and grandchildren those parts / percentages of your assets that go tax free, then wait for the required period of time, then do it again.
Problem solved.
Fully agree about child labour, and does she not pay her children a salary in those 2 or 3 decades?? A salary that's taxable?? So they are paying their grown up children pocket money and hence avoid paying taxes??
So many questions ....
Dir ein schoenes WE und liebe Gruesse vom Chiemsee
@@EllieD.Violet (“The distinguishing mark of man is the hand, the instrument with which he does all his mischief.”
― George Orwell, Animal Farm), like in farmers voting for Brexit. Vielleicht verstehen wir die EU nicht, die Brittons scheinbar nur wenns um das Geld in den taschen geht. Ein super WE von der Ruhrquelle auch dann. Happy hogging all.
@klausmohr522 Nochmal Moin Moin!
Sie waren schon beim ersten Mal nur auf Geld aus, waehrend 47 Jahren nur auf Geld aus, wind jetzt nur auf Geld aus, waeren es in der Zukunft.
@@EllieD.Violet Schoenen guten Morgen in das land des immer fließendem Hefe Weissbier auch vom Krombacher Pils land. (Die Leute hier werden denken ich sei wohl verrückt hahaha. :)😆🤣☺Alle Kanäle hier auf YT die diesen Brexit besprechen haben das alle gemeinsam, wie können wir unsere Taschen wieder füllen. Es wird wohl nie anders werden. Die EU muss nur näher zusammenwachsen und endlich Nägel mit Köpfen machen und die Briten auf ihrer Insel in Ruhe weiter muddeln lassen! Für Amerika sind die sowieso nur ein Festverankerter Flugzeugträger vor Europa/Russland genauso wie Taiwan and die Philippinen vor China. Genug davon, macht nur deprimiert. Nun gut, für alle die nicht so gut Deutsch verstehen, use Google translate. Have a super weekend all, I know I will! :)
NO USE BLAMING LABOUR FOR THIS AS TORIES LEFT A DOGS DINNER FOR LABOUR TO CLEAN UP INSTEAD IF A DECENT DINNER IN CANTEEN,STARMER DID SAY IT WILL GET HARDER BEFORE BETTER, WE ANT WISH AWAY 3 TRILLION POUND DEBT CAN WE ??
Food security and replacing family farms with factories and substandard imports?
@@lizwebstersbf They're called Liebour for a reason Liz.
@@martin4787 AND TORY MEANS ROBBERS ASK ANY IRISH PERSON, LABOUR WAS A FAR BETTER GOV THAN TBE CORRUPT LIARS YOU MUST FOLLOW. AREN'T YOU ASHAMED FOR VOTING FOR THOSE CRETINS ?
@@lizwebstersbf You have to pick between arguing for food security or for family farms. Factory farming is more efficient, and farming to lower standards increases the amount of calories produced.
Family farms, sustainable farming, ecologically justifiable production and animal welfare are all very worthy goals, but they come at the cost of basic food security.
@@lizwebstersbf It will get worse for all of us before it gets better. So we have to buckle up and try our best to make it work. Start putting pennies under bed for the kids, may be the best solution :)
It seems to me that the idea to do this is to free up land for house building. 🏠
Agriculture and fishing industry needs subsidies!
There was a fantastic podcast by Fed by Farmers with an agricultural accountant on - brilliant lines - and over the knee jerk reactions with real numbers involved.
Please please, go and speak to an agricultural accountant and a lawyer - and get it sorted before it comes in. There are ways that these things can and will be sorted.
And, the one benefit of it - the big pension funds will no longer buy up loads of land - and proper planning brings down the number who might be hit to about 20% - and even those can resolve many ways through as well.
AND - email to your MPs to demand that this is reassessed - bring in a limit yes - but bring it up to £5m because if you're going to include everything!
The lady (Charlotte?) from the farming show said that the value will include “other businesses”, but presumably those non-agricultural businesses will already be subject to inheritance tax?
You may be justified in calling for a higher limit but you still haven’t explained why current the exemption is fair? I speak as someone who paid inheritance tax 3 years ago, although I understand that your circumstances are very very different, you must understand that this is not equitable at face value.
I would far rather have better farming subsidies so that you don’t see it as a charity or a custodial service, but a career that provides a decent standard of living; enough to pay your fair share of tax.