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Latest Discussions
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Because they have been awful - scoring own-goal after own-goal. You cannot be an apologist for their diabolical first 100 days on the basis that the previous lot were worse - in the same way the whole of the 14 years of Tory rule was tarred with the brush of despair about their very worst behaviour in the latter years Labour run the risk of their government being tarred with the same brush on the basis of their first 100 days. It has probably been some of the worst 100 days of any new government and Starmer's approval ratings aren't as low as they are without reason. You know they are in trouble when MPs start posting the good bits from their first 100 days - it's a sure sign they know they have a problem. And when this government have a problem the frontbenchers disappear from media interviews and they roll-out the likes of Pat McFadden to provide some air cover. Yesterday it was farmers. Today it is the pensioners being pushed into poverty by Winter Fuel payments. It's a perceptual disaster and has been since day 1 - they have to get a grip on it else this leadership team is doomed. You highlight the very problem here. Farmers are not being gifted money. They are being gifted assets. Assets that they don't realise as they continue to work those assets to provide food for the country. Most inheritance is cash or an asset (a house) that people sell to generate cash. Passing a farm to younger family members is very different. On the news they interviewed a farmer whose family had owned the farm since 1822 and he broke down in tears when he spoke about his 13 year old son who was working in the farm to continue it - no doubt in the realisation that his son would be hit by a tax bill when he took it over. Given farmers are not cash rich then the decision would likely be that they would need to sell some of the land that generations had worked hard to build to fund the tax bill - and so many farms are on a knife's edge that it might be enough to send them over the edge. -
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By Earl Aelfheah · Posted
Because land has been exempt from inheritance tax wealthy individuals (like Clarkson and Dyson) have used it as a tax avoidance measure. Clarkson is on the record stating that he bought land for precisely this purpose. It is people like him who farmers should be angry with, if anyone, because they have exploited a loophole, which is now being (partially) closed. Yes, I do grasp the concept of inheritance - it's were one is given money, or valuable assets by chance of birth (having done nothing to earn it). As money you have earned, is taxed, it seems odd that money you have not, shouldn't be. I assume you don't disapprove of income tax? Why do you think people coming into a massive, unearned windfall shouldn't pay tax, but a nurse who works hard for everything they earn, should? Everyone has to pay inheritance tax over a certain threshold. In my opinion, if you are fortunate enough to be gifted any amount of money (whether cash, or a valuable asset), to quibble about paying some tax on some of it, seems rather entitled. Most farms worth under £3m will still end up being passed on tax free. Those that do have to a pay inheritance tax will do so at just 20% on that part of it that is over the threshold (rather than the standard 40%), and they'll have 10 years to do so (usually it is payable immediately). So it is still preferential terms for those being gifted a multimillion pound estate. -
By EDResident2018 · Posted
Ah yes, good spot! Thanks for the link. It sounds like they are planning a licensed restaurant with a small bar from reading through the application.
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