matticus
Guru
Got some top quality stuff this week, have we?
Grow your own. It's the only way.
Farmers - a put upon minority or greedy gits - you decide.
- Thread starter Beebo
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Grow your own. It's the only way.
Ian H
Legendary Member
presta
Member
This seems like a fair question. If you buy farmland, what are you allowed to do with it other than farming? Presumably you won't get planning permission to build a housing estate, or anything else really lucrative.
Is its value going to plummet anyway once it's no longer of any use for tax avoidance?
Is its value going to plummet anyway once it's no longer of any use for tax avoidance?
mjr
Active Member
I saw someone suggest that the farmers should have thrown some orange flour at a landmark so that all the right-wing rags would do feats of journalistic origami to justify it without contradicting their previous condemnations of flour-throwers.
mjr
Active Member
1. Housing. Planning zones change, reviewed about every 5-10 years. I live 4 miles from Nowhere and some farmland to the east of my village and the next two villages north have all been rezoned for housing, 300 in the first phase, 1300 in the second, another 2400 after that in phases to be decided. The farmers have sold up to Hopkins and Metacre and I don't know who the third parcel was sold to. It's still being farmed for now, but the first phase looks like it may start in the next two years.
2. Rent it out as a farm, avoiding tax when it's passed on.
3. Various country activities.
4. Hope someone discovers something they want to quarry under it. The area between the village to the south of mine and the one after that has all been quarried. Same to the east of the next village east.
Probably, in most case, yes. It'll be painful for those who have bought a lot of land for tax avoidance, who then have less reason to keep hold of it, but bought it for more than the new selling price, which is probably why there seems plenty of funding for these protests.
monkers
Legendary Member
I've just said it, but I'll say it again. SNAFU.
Farmers will not need to pay IHT, they'll just need to do a bit of paperwork to put it in a trust.
Here's Clarkson even admitting the fact to camera.
View: https://www.youtube.com/watch?v=qUrTf0DGpyA
Farmers will not need to pay IHT, they'll just need to do a bit of paperwork to put it in a trust.
Here's Clarkson even admitting the fact to camera.
View: https://www.youtube.com/watch?v=qUrTf0DGpyA
dutchguylivingintheuk
Über Member
New victims of the ground/house price value ponzi scheme, i mean said here before but still farms are worth millions but the only way someone would be able to pay that much for it is if they use it as an wealth investment.
So how can farmers whom want to pass it on to their children not be a victim of this? Yeah sure like @monkers said you can put it in a trust but it's a bit beyond the point, the point should be the house and ground prices are not sustainable, but sadly we don't have politicians (nowhere in Europe for that matter) with the balls to actually name and manage that problem.
So how can farmers whom want to pass it on to their children not be a victim of this? Yeah sure like @monkers said you can put it in a trust but it's a bit beyond the point, the point should be the house and ground prices are not sustainable, but sadly we don't have politicians (nowhere in Europe for that matter) with the balls to actually name and manage that problem.
monkers
Legendary Member
Yeh we do, just that people don't elect politicians who are big on social justice. In my opinion, the problem is that the electorate have been trained by experts in the field of subversion of democracy. At general election time, enough voters turn out with the intention of either ''sticking it to the man'' or sticking it to minorities they've been groomed into hating. The never-end-dumb being a classic case.
AuroraSaab
Squire
Land banking. Companies will buy up some of it and hang on to it until the greenbelt/farm designation is no longer. Maybe rent it out in the meantime.
mjr
Active Member
Ah yes, that reminded me! The third parcel of land is owned by Zurich, the investment and insurance company, or that's what I've been told but not yet seen in writing because their land will be the final phases to be built.
dutchguylivingintheuk
Über Member
Yes in case why anyone is wondering why on earth basic amenities keep on going up in price but the farmers not any richer.
monkers
Legendary Member
It's because the food supply is mostly in the hands of big business. The big business model is to grab every penny because their first duty is to shareholders rather than consumers. Big business is concerned with maintaining share prices, rather than the livelihoods of others.
While retail prices have been soaring due to a combination of factors, there is still ongoing shrinkflation and greedflation by big food.
Electric_Andy
Regular
I had to look for a summary, and this one was quite good: https://www.channel4.com/news/factcheck/factcheck-inheritance-tax-on-farms-explained
I think it's one of those where Farmers were initially protected (compared to IHT rates for non-Farmland) and now it's being taken away they think they are losing out. i.e. Lots of people are seeing it as a loss compared to what things used to be like, when perhaps they should be comparing it to what other (non-farming) people currently have to pay in IHT.
It certainly does look like the Government are desperate to do away with small/medium rural farms in favour of Super-farms owned by big corporations. My Uncle has already had planning permission granted for his farmland (only about 6 acres) and offers to buy.
The big difference is that Farmland is not like a house, you can't live in it, and it's only purpose is to grow stuff on. And for years people (including governments) have assumed that Farmers are rich and can afford it anyway. The fact that we've lost 1200 dairy farms in the last 4 years has been washed over
I think it's one of those where Farmers were initially protected (compared to IHT rates for non-Farmland) and now it's being taken away they think they are losing out. i.e. Lots of people are seeing it as a loss compared to what things used to be like, when perhaps they should be comparing it to what other (non-farming) people currently have to pay in IHT.
It certainly does look like the Government are desperate to do away with small/medium rural farms in favour of Super-farms owned by big corporations. My Uncle has already had planning permission granted for his farmland (only about 6 acres) and offers to buy.
The big difference is that Farmland is not like a house, you can't live in it, and it's only purpose is to grow stuff on. And for years people (including governments) have assumed that Farmers are rich and can afford it anyway. The fact that we've lost 1200 dairy farms in the last 4 years has been washed over
Electric_Andy
Regular
It's always been the case, since the 80s. Animal feed, vet bills, machinery, consumables have all rocketed up, but the prices farmers receive for crop and milk has been going down. So it's now cheaper to buy Argentinian or Brazilian Beef in the shops than to buy British. Same goes for a lot of vegetables too. Also, if you are a supplier for one of the supermarkets, you can't sell half of your veg if it's the wrong shape or size, or at best you get a pittance for it
