The Farmers Protests in London

Eebo said:
Wealthy landowners worth over £3millon who are willing to top themselves to save a bit of tax are proper extremist tax avoiders and you want people to feel sorry for them?

That’s why the rest of us have to pay more tax because big business and rich scrounges won’t.

You are talking nonsense about it going to foreign farmers, that is a flat out lie, as I explained it not linked to this IHT. It’s about fairness.

The amount given in subsidies to farms vastly exceeds the tax raised from them, so the rest of us are subsidising poor businessmen and scroungers.
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Wow, what a cold heartless response.
 
tweety said:
A number of farmers have already committed suicide over this policy, well just have to wait till April to see how many overall. The policy is nothing more than a money grab by the government who will pass it on to foreign farmers

Agricultural land is worth fuck all in the scheme of things, it only has significant value if housing is allowed to be built on it.
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At £12,500 to £15,000 per acre Agricultural Land is worth plenty if you have enough of it. So the only people affected own at least 240 acres to have £3million of assets!

Why should I pay IHT on my assets over £1m when they don’t on £3m
 
tweety said:
Wow, what a cold heartless response.
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I think topping yourself to avoid tax is cold and heartless and even Scrooge never went that far.

You make it sound like they have no choice, but it’s pathetic, we can all avoid tax by topping ourselves but we are not all so rich or such fucking tightwads who are so desperate to avoid paying tax.

If they just paid their taxes like everyone else they wouldn’t be in the position. They obviously love saving tax more than living their lives, if any of this nonsense is true.

If everyone took the same approach then there would be no one left to pay tax to subsidise farmers and then they would go out of business.
 
give it to gordon said:
Why does anyone pay inheritance tax ?
Our parents both the house with money that was taxed. They pass and now the government want the tax from the house.

I think inheritance tax is wrong for everyone
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I agree with you.
We pay stamp duty, estate agents fee interest on the mortgage all out of earnings and savings that are also taxed.
If you go in a care home the government take your half to pay care home fees your children get nothing everything is taxed and the government want more.

Taxes are to high in the UK
 
hcblue95 said:
You are funny Tweety. Are you a farmer as well as a nuclear physicist, cabbie and brain surgeon?
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I forgot he was Walter Mitty!!!

I’m blaming having Covid and a bit of brain fog as the reason, as I did use to enjoy reading the many careers of Tweety on here.
 
give it to gordon said:
Why does anyone pay inheritance tax ?
Our parents both the house with money that was taxed. They pass and now the government want the tax from the house.

I think inheritance tax is wrong for everyone
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As you know, the IHT threshold for a married couple is £1m. So unless they spent over a million on their house, or their house is worth over a million now, they have nothing to pay.
tweety said:
Agricultural land is worth fuck all in the scheme of things, it only has significant value if housing is allowed to be built on it.
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And thats the exact issue. If they didn't pay much for it, it's worth nothing now and wont be subject to IHT. If however, it's a land bank for investment purposes.....
 
Poor farmers. Pass me the world’s smallest violin.

Just for context my best mate is a farmer and I’ve told him the same thing. He tried to argue but when I pointed out that as an employee every penny I’d earned in my life was subject to taxation and that I didn’t have access to all the dodges that he did he quickly shut up.

They should be blaming the Clarksons of this world who have bought agricultural land as a tax dodge and precipitated this change.
 
Kirkstall Blue said:
I agree with you.
We pay stamp duty, estate agents fee interest on the mortgage all out of earnings and savings that are also taxed.
If you go in a care home the government take your half to pay care home fees your children get nothing everything is taxed and the government want more.

Taxes are to high in the UK
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Agreed, but when the biggest and most profitable international businesses pay little or no tax the burden has to fall on the rest of us.

Amazon, Costa and the like pay fuck all tax in the UK. Rich landowners think they should be able to do the same by cosplaying as farmers and so the rest of have to pay more.
 
dave_blue12 said:
Poor farmers. Pass me the world’s smallest violin.

Just for context my best mate is a farmer and I’ve told him the same thing. He tried to argue but when I pointed out that as an employee every penny I’d earned in my life was subject to taxation and that I didn’t have access to all the dodges that he did he quickly shut up.

They should be blaming the Clarksons of this world who have bought agricultural land as a tax dodge and precipitated this change.
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jockblue said:
As you know, the IHT threshold for a married couple is £1m. So unless they spent over a million on their house, or their house is worth over a million now, they have nothing to pay.


And thats the exact issue. If they didn't pay much for it, it's worth nothing now and wont be subject to IHT. If however, it's a land bank for investment purposes.....
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Land for growing spuds on is just that. If they were allowed to build houses on it the value maybe notionally 50 times that. Then the taxman should take his share.
 
dave_blue12 said:
Poor farmers. Pass me the world’s smallest violin.

Just for context my best mate is a farmer and I’ve told him the same thing. He tried to argue but when I pointed out that as an employee every penny I’d earned in my life was subject to taxation and that I didn’t have access to all the dodges that he did he quickly shut up.

They should be blaming the Clarksons of this world who have bought agricultural land as a tax dodge and precipitated this change.
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Farmers have so many tax advantages that most business don’t and yet they still whine when the result of those tax breaks and subsidies means their land becomes worth more and they might have to pay half rate IHT when they have more than £3milion of assets.

They don’t pay any tax apart from employers NIC, they get to claim back all their input VAT, they have special 3 or ( year profit averaging, they say they don’t make any profits, but in reality when they make money in a good year they simply upgrade their machinery and reduce taxable profits to zero.

They have a pathological hatred of paying tax and would rather die than do that. They just don’t think tax should apply to them, no matter how much wealth they have accumulated from the tax advantages and subsidies that the rest of us have to pay tax to fund them.
 
tweety said:
Land for growing spuds on is just that. If they were allowed to build houses on it the value maybe notionally 50 times that. Then the taxman should take his share.
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So, farmers keep telling us that they spend huge amounts on capital expenditure like tractors , combine harvesters etc and make little or no profit. Other businesses with a similar economy are valued on a multiple of their profit, which would be very low - unlikely to trouble IHT. They can also ensure that they transfer the ownership to their kids early enough to avoid the tax.

Perhaps if the farmers listen to their accountant more than Clarkson, they might not be so worried and even suicidal…
 
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