Comment on Thousands of UK farmers protest against inheritance tax hike
speendle@feddit.uk 1 day agoSadly I’m running out of time, and thank you again for your detailed reply, but a couple of points: the Clarkson example could be better handled through taxation on his earnings during his lifetime, your prices are primarily relevant to land rather than complete farms - typically in Devon/Cornwall you’d be looking at 15-30k per acre when farmhouse etc. is included, and finally the money made running a farm often ends up reinvested or used in the subsequent running of the farm, so stripping £40k out of it in your example would significantly affect the running of the farm the next year and so on. Ok, got to rush…
tankplanker@lemmy.world 1 day ago
I already covered over priced areas in my previous post, and the south west squarely falls into that category.
Frankly if you have 500 or more acres in that area and you aren’t already making bank from farming then you would be an utter, complete moron not to sell for the £10m+ that you would net from the sale. You could even buy a similar sized farm in a cheaper area and bank half of it. Plenty of farmers selling up as they have no family who wants to take it on.
Taxation on the rich should be both on salary and on assets, especially assets that appreciate like land, otherwise we end up with the rich owning everything. The rich have massively larger purchase power than everybody else even if they were taxed fairly. We have to start somewhere with reversing that.