Re: Here comes the tax rises
 

Land is expensive but land that would be exempt from IHT is worth even more. That said, you can you build on the land you purchased? Land for which you can't get planning permission is worth even less irrespective of its scarcity.

Re: Here comes the tax rises
 

If you sell it or develop on it, that will attract tax.
The problem with inheritance tax is that you are forced to sell something to pay it. Where it involves a business of any sort, that business is likely to be destroyed.

Re: Here comes the tax rises
 

Thats socialism

Re: Here comes the tax rises
 

With farming land, they have 10 years to pay the IHT…

Re: Here comes the tax rises
 

It seems that Rach didn’t anticipate the impact of employers’ NI contributions either. They just don’t understand business. They are well out of their depth.

---------- Post added at 19:41 ---------- Previous post was at 19:39 ----------

The words ‘babies’ and ‘bath water’ come to mind.

---------- Post added at 19:44 ---------- Previous post was at 19:41 ----------

Is that all you see? This is nothing but vindictiveness against people with money.

---------- Post added at 19:45 ---------- Previous post was at 19:44 ----------

I’m sure that will be a great comfort to those trying to keep their farms afloat. You’re all heart, Hugh. :rolleyes:

Re: Here comes the tax rises
 

I’d argue that austerity was victimisation of those less well off and that those with more should pay more. And I say that as someone whose tax liability is going to go up by approx 15-20% in the next fiscal year and possibly more if I decide to sell some of my stock and shares

Re: Here comes the tax rises
 

If you think IHT shouldn't apply at all then that's the argument that should be made. But when it does apply then we should close off loopholes that allow people to avoid it.

Re: Here comes the tax rises
 

Working for 10 years, on a business you’re lucky to make 1% profit on the investment you put in, just to pay for the privilege of owning it, which your parents already owned……and knowing that after you’ve worked yourself to death that when you die your kids will have to do the same thing.

Don’t have ten years to pay for the machinery, livestock, harvested stock and everything else.

It’s just a typical ignorant attitude that comfortable well pensioned lefties from middle Britain have from their now wholly owned semi or detached houses……………

Re: Here comes the tax rises
 

You seem nice…

Re: Here comes the tax rises
 

Well, that’s subjective. But nicer than some…….even most. If indeed that was directed at me.

Re: Here comes the tax rises
 

1% sounds bad - average income of £96k not so bad…

https://www.fwi.co.uk/business/busin...ite-volatility

Sad that you have to descend to ad hominem insults…

Re: Here comes the tax rise
 

Not ad hominem, just an observation.

Averages are great aren’t they?

But from your link from 2022 - 2023.

A loss!!! You work all year, from dusk ‘till dawn and lose £10k ………..where’s the £90k for these guys.???

Averages…………are great aren’t they?

But don’t worry, you have 10 years to pay your IHT with the minus -£10K a year you’re earning , Hugh from his sofa in Idle advises.

Just to finish, the article ends with

It’s also unclear if these figures are actual profit, after staff overheads etc…..

I know you’ve done it before, but do you actually read the article you post, after a quick google search, or just go for it.


Because it makes you look St…… I won’t say it, Paul will be after me again.

Re: Here comes the tax rises
 

Are you expecting a knighthood? You should be furious.

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It’s just wealth jealousy in action. But like everything else from Labour it’s ill thought out and will backfire. The wealthy will just find other means to protect their possessions or will take their wealth elsewhere.

Re: Here comes the tax rise
 

Tread carefully, you're already on thin ice again, you seriously need to take a chill pill.

Re: Here comes the tax rises
 

Why should I be furious ?