By Youngian
#79413
Before Gove extended the four year rule* to ten earlier this year, I spent some time approaching farmers and landowners to see it they wanted to sell a parcel of land. It was logical to presume prices were falling due to a tougher business climate but was puzzled to see land prices rising. No surprise that they wanted to sit on it and a lot of farmers already owned their land in trust.
Noticed there was a lot of paddocks with horses on and assumed council were being liberal with planning applications for a house if you establish a non agricultural business. An architect told me I was wrong about this and there's no way planners would let you get away with that one. But now I get why land prices are inflating, rich speculators on a tax scam.
* If you establish residence in an old out building without concealment or neighbour complaints you can claim planning permission to live there after four years.
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By Abernathy
#79434
French farmers are notoriously given to taking to the streets in virulent protest over the slightest grievance. Yet farming in France seems not to have faced apocalypse, and as far as I’m aware (which admittedly isn’t a lot) the French farmers haven’t wrung significant concessions on special privileges for their industry.

If French society can get over a few militant farmers protesting every so often, surely the UK can get over a couple of thousand Barbour-clad, entitled wealthy arseholes driving their ULEZ-exempt (!) tractors round Parliament Square?
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By Malcolm Armsteen
#79449
Remarkable the number of people stating baldly that the Labour Government has failed, and has been ripping us off for years...
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By Abernathy
#79454
Trying to understand the “logic” of the arguments against the government’s changes. Here’s what I’ve got :

- Farming is a business, aimed at making profits from working in the field of agriculture.

- Farms necessarily entail ownership of variable amounts of land, in order to plant, nurture, and harvest crops and/or graze livestock with the objective of producing food for human consumption.

- A proportion of farms are, historically, “family farms”, which is to say that the business of the farm has been and will seek to be continued by the offspring of the principal owner of the particular farm. This includes buildings, machinery, livestock, other infrastructure and assets of the business which are to be inherited by the offspring of the principal owner of the business on his/her death.

- In this respect, the business of farming is no different to any other non-farming “family” business in which subsequent generations seek to continue the business of their parents after the parents die (or retire).

- Inheritance tax is a tax payable by beneficiaries, usually offspring or other relations, on the assets that they have acquired on the death of their parents or immediate antecedents. There is a statutory limit on the value of such assets below which no inheritance tax is payable by law.

-Since 1984, farming businesses have been exempt from paying any inheritance tax whatsoever.

- The government now requires farming businesses to pay inheritance tax on inherited estates valued at more than one million pounds, but also benefitting, as farming businesses, by paying only half the rate of inheritance tax that other non-farming businesses are obliged to pay.

- Farmers, especially “farmers” such as Jeremy Clarkson and James Dyson, are up in arms at this modest proposal. Their argument is that inheritors of farming businesses deserve exceptional treatment, and should instead be completely exempt from paying any inheritance tax. They want the government to reverse its decision to require farming businesses to be subject to (reduced) IHT.

- These people are driving tractors to Westminster to try to further their grievance.

Nope. I still don’t get it.
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By mattomac
#79457
The Weeping Angel wrote: Tue Nov 19, 2024 11:57 pm


I mean if the likes of the Lib Dems and the NFU were prepared to come up with alternatives instead of screaming they're going to kill British Farming. I might be prepared to listen.
I was thinking there is a solution, half the voxpops seemed to be “well it doesn’t affect me” and the type that go on the hunt.
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By Killer Whale
#79467
Abernathy wrote: Tue Nov 19, 2024 11:21 pm - In this respect, the business of farming is no different to any other non-farming “family” business in which subsequent generations seek to continue the business of their parents after the parents die (or retire).
With respect, I don't think this is correct.

There's a reason why economics doesn't treat land as just another type of capital. Unfortunately, accountancy does and I think this is where we have an issue.
By Youngian
#79471
Agriculture is not a normal business and is about other things such as food security, land and countryside management, supplying a very successful food and drinks industry. CAP subsidies cost around £15 per year for the average earner and well worth it compared to the alternatives; no industry and mass importation from the new world or full scale protectionsim which means shortages and farmers shaking down the consumer. I don't begrudge their generous grant perks and some business tax exemptions either as it's a precarious industry. So even someone like me who defends their perks and appreciate their graft can see this IHT loophole is a scam.
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By Killer Whale
#79472
A lot of farmers are being mugged off by people whose interests are vested elsewhere, just as they were over Brexit. They know their existence is precarious, and because they effectively exist on benefits, depends on the whim of authority. I understand all of this, and sympathise. There's no reason why they should be more politically astute that your regular voter, and we know how unsophisticated they can be.

I just wish they wouldn't put so much shit and black bale-wrap in the rivers.
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