It's not intended to. The likes of Clarkson aligning themselves with farmers will only serve to alienate the public ... ... yet they cheer him to the rafters. Fair enough but it just looks like they're more like him than me, which doesn't help their cause imo. It's like when working class people align themselves with Farage ... ... an ex-stockbroker, son of a stockbroker, privately educated and from a German background. But, have a pint down their local and he's one of the lads
If it is a family farm which is going to be past down the family the parents could make the children equal partners in the farm at say the age of 30. If you use the £3m shared allowances for IHT as the starting point a farm with one child would then have to be worth £6m to pay IHT on the value above this. Two children make equal partners with their parents this then lifts the threshold to £9m. so if the farm is a family farm to be past on for several generations it would have to be very large to attract IHT.
That’s just what I was thinking but what happened to passing it on at least 7 years before you die? Is that still on the go? I’m sure you didn’t pay anything then.
Oh right, it's just the treasury said that the measure was designed to stop people like Clarkson exploiting the tax loophole.
I have always found him a self opinionated obnoxious prick, never watched anything he was in he was on, FFS how did he earn money on TV.
Yes, if you gift it seven years before you die , no IHT is payable. This is a lot of noise about something which will effect a very small number of people who don’t trust their children.
That's interesting, I didn't know that. Surely though, if that's the case, people like Clarkson don't need to do this, they could just reach a certain age and put everything in their kids names? I suppose you'd have to be pretty confident you'd live another 7 years.
That's irrelevant, the Treasury said nothing of the sort ... ... they didn't say it was just to hit the ultra rich either. Whatever, this is becoming a bit too nur nur neh nur nur for me ... good luck.
We're entertaining an argument about people with £millions in assets losing a bit of it, at the same time as many are worrying about putting the heating on. The rightwing and their media voices still carrying the narrative.
It isn’t that mate, it’s the possibility the day after you sign it over they kick you off the farm and sell it.
I certainly will mate loved the lad since we went to college together. I remember I had my 18th and my mam and dad bought me a tankard for my birthday, he was 18 about 3 months later and his bought him a new Datsun 180b But would I swap my life for his, bloody right I would
Aye, am fookin bored with it now anarl. Imagine being a normal working gadgie making ends meet, sticking up for multi millionaires whinging about paying their way in taxes like the rest of us FFS. Some of these modern day brainwashed bellends would slag the Jarrow marchers off FFS.
They remind me of 'hunt followers' who aren't allowed to dress up and ride with the toffs ... ... but think they're part of it all by running along behind. In reality the hunt wouldn't piss on them if they caught fire.
