Budget 2024

[BobKowalski]

Who said I was enthusiastic for reduced growth and trade barriers? Don’t go making stuff up now flower.

Brexit at its core is anti-integration and protectionism. it’s about retreating behind barriers and borders. And you supported and voted for it.

The End.

 

[metalblue]

Brexit at its core is anti-integration and protectionism. it’s about retreating behind barriers and borders. And you supported and voted for it.

The End.

Fucking lol. You absolute bore. If you had a brain cell you’d be dangerous.

 

[Brewster's millions]

Well, congrats on inheriting £2m of farmland and presumably a viable commercial business to go with it.

For starters isn’t it 20% above £1m? If so we just reduced it to £200k. Then you look at the books of what will be several hundred acres of farmland, turnover, profit, loss, employee numbers etc - because this is a business not farmer fucking Giles toodling around on his fucking tractor and you borrow against the farm if it’s a profitable and viable concern.

Average UK farm size is 40 acres, so unlikely to trouble the £1m threshold. If owned by a married couple then good estate planning may get you a combined £2m threshold (not an expert here!).

Bottom line. Let me inherit £2m of land and a viable business and I’ll figure out the rest :)

So basically you don’t know if the farm can still be viable if they have to sell 20, 30% of the land off in order to pay the IHT, and you’ve no idea whether it’s possible to borrow against the remaining business given how poor harvests have been in recent years.

It’s simply the politics of envy. Ideologically driven and counterproductive.

 

[stonerblue]

The notion that Dyson does anything that isn’t in Dyson’s best interest is fanciful. He doesn’t give a shit about anything else but himself.

Tories for you

 

[BobKowalski]

So basically you don’t know if the farm can still be viable if they have to sell 20, 30% of the land off in order to pay the IHT, and you’ve no idea whether it’s possible to borrow against the remaining business given how poor harvests have been in recent years.

It’s simply the politics of envy. Ideologically driven and counterproductive.

If I have a £2m land asset and operating a commercial business on that land, a 200k loan with the land as collateral is not that big a stretch. If the business is generating income then even better. Average farm incomes went from around £50k in 20/21 to £90k in 22/23. And that’s average. In this hypothetical example you are talking a large sized farm.

The issue is one of cash flow and if you wanted to sell a field or two to say a housing developer then that is also an option.

Either way, this boo hooing over some fucker inheriting a commercial farming business and land worth £2m is fucking bizarre. Talk about problems I wouldn’t mind having, and what is this fetish for defending those who can afford to pay tax but don’t want to? Is it on PornHub? Do you order a Dyson product and dance around it naked? And what the fuck do you guys do with the attachments? On second thoughts I’d rather not know.

 

[Brewster's millions]

If I have a £2m land asset and operating a commercial business on that land, a 200k loan with the land as collateral is not that big a stretch. If the business is generating income then even better. Average farm incomes went from around £50k in 20/21 to £90k in 22/23. And that’s average. In this hypothetical example you are talking a large sized farm.

The issue is one of cash flow and if you wanted to sell a field or two to say a housing developer then that is also an option.

Either way, this boo hooing over some fucker inheriting a commercial farming business and land worth £2m is fucking bizarre. Talk about problems I wouldn’t mind having, and what is this fetish for defending those who can afford to pay tax but don’t want to? Is it on PornHub? Do you order a Dyson product and dance around it naked? And what the fuck do you guys do with the attachments? On second thoughts I’d rather not know.

You still don’t have any idea about how much land will have to be sold, the ability to raise finance, the income of farms. So on and so forth.

None.

And if Labour can’t be arsed doing a risk assessment on how many pensioners they’ll kill by withdrawing the WFA, then they won’t be doing one on this will they?

As for the rest of your post, carry on making a fool of yourself. You seem a natural.

 

[BobKowalski]

You still don’t have any idea about how much land will have to be sold, the ability to raise finance, the income of farms. So on and so forth.

None.

And if Labour can’t be arsed doing a risk assessment on how many pensioners they’ll kill by withdrawing the WFA, then they won’t be doing one on this will they?

As for the rest of your post, carry on making a fool of yourself. You seem a natural.

I quoted you the average income of farms over a three year period.

Again, curse me with the ‘problem’ of inheriting a commercial business and farmland worth £2m. The ‘worry’ would keep me awake at nights.

 

[The Future’s Blue!]

I quoted you the average income of farms over a three year period.

Again, curse me with the ‘problem’ of inheriting a commercial business and farmland worth £2m. The ‘worry’ would keep me awake at nights.

Just for perspective, say I inherited a £2m farm, if I sold it, how much would I take home after tax?

 

[denislawsbackheel]

You still have to ask though if I inherit a £2m farm but want to work it then how do I pay the £400k IHT bill?

The reality is most farmers would sell up or certainly their families would upon inheritance and then who would buy the farm? More than likely it would be a major corporation or billionaire and so even more wealth and land passes to the 1%.

If I was a farmer today then I'd probably ring up Barratt Homes and get the inevitable over with.

If you have inherited a £2 million farm from a couple there will not be a penny of IHT.
The total IHT free allowance would be £2.65 million combining the transferable farm house allowances and the transferable farm land allowances.

 

[BobKowalski]

Just for perspective, say I inherited a £2m farm, if I sold it, how much would I take home after tax?

Capital gains tax varies and if the farm became your primary residence there would be no tax I guess.

Assuming you paid full whack of IHT then Capital Gains you’re still walking away with around £1.25 million which I think we can all agree would be a terrible position to be in.

#protectmillionaires