Comment on Record breaker Starmer is the 'most unpopular PM since polling began'
UrbonMaximus@feddit.uk 1 day agoI don’t see how inheritance tax is to blame. You’d pay less on inheritance tax than paying income/capital gains tax on selling your land. I suspect other reasons were at play.
chonglibloodsport@lemmy.world 1 day ago
Inheritance taxes for real farmers (as opposed to people who just buy farmland to live in the country) are much higher because they include capital expenditures. Modern tractors, harvesters, ploughs, seed drills, sprayers, barns, equipment sheds, silos, fences, irrigation systems… all of this can add up to millions of pounds. Having to suddenly pay a large inheritance tax for a cash-strapped (high leverage) working farmer because their parent died could absolutely force the sale of everything.
UrbonMaximus@feddit.uk 2 hours ago
How is that different from any other family that inherits a business? The nominal amount might be different, but it’s the same situation. If they can’t afford to keep it, they need to sell - it’s a frustrating situation for everyone, I don’t see why farmers need to be special. As I said before, to protect society from wealth hoarding, inheritance tax is a necessity and should be properly enforced.