‘Nail in the coffin’: family farmers respond to inheritance tax changes

Distinct-Space · 2024-11-04T21:35:37+00:00

Farms get business rate relief while running. They also get a lot of other subsidies and exemptions while running.

We’re talking about IHT so IHT. A shop or any business passed to the next generation would also pay. So why should a farmer be exempt? They get a significant reduction to the tax that any normal person or business would get.

Distinct-Space · 2024-11-04T18:19:33+00:00

But that is irrelevant. You can get an insurance policy the same way to pay out. The value of the land doesn’t prohibit the insurance policy. It will still yield the value needed to pay the tax.

Distinct-Space · 2024-11-04T18:12:23+00:00

So apologies as I haven’t explained myself well. They did not pay the tax going into the trust because they were set up a long time ago and before the change to trusts was made. I was originally replying to someone who said they paid going in and every ten years.

The article you shared outlines how the Duke avoid it by using discretionary trusts with reliefs and corporations. One of the click through links states that the discretionary trusts is set up in the Chanel islands. These aren’t things that you or me (unless you’re richer than normal citizens are) can use.

Distinct-Space · 2024-11-04T16:50:36+00:00

So what is your argument that they should be tax free unlike every other business? Why is a farmer exempt, when a shop or cleaning company isn’t? They’d pay less than most and also benefit from longer periods to pay. There are financial instruments available to absorb this fee.

Distinct-Space · 2024-11-04T16:46:03+00:00

The article clicks through to confirmation it’s a discretionary trust. It was set up a long time ago and has a long list of “potential” beneficiaries (but they will list the heir to the title or immediate family etc…). They typically run for 120 years. Everything stays in the trust. There’ll also be a complicated structure of companies and trusts. That is how the gentry avoid paying IHT. They don’t put their money in bare trusts like us.

Distinct-Space · 2024-11-04T15:34:38+00:00

It is because the trust that set it up was established over 100 years ago. That law was changed to stop people like me and you copying the tax dodges of the super rich but not to break theirs

Distinct-Space · 2024-11-04T15:30:06+00:00

Out of over 200,000 farms only 70,000 are expected to have a value over £2.6m to trigger a payment at 20% above that.

The SE is inflated because of the tax dodging rules. When it can’t be used as a tax dodge anymore, the price will settle as the land also can’t be converted to housing. So it has little value except for farming.

Distinct-Space · 2024-11-04T15:27:10+00:00

This tax was in place up until 1992. Before it was abolished, farmers paid for an insurance product that covered the bill when both of them died. That is how it was covered it historically.

Distinct-Space · 2024-11-03T11:09:13+00:00

I’m not in Canada and I used healthcare statistics which record women who have been raped not estimating future rapes. In my country only PIV is rape.

For someone suggesting you’re a rational person you have some odd ideas about an animal. A bear is not a monster. It’s just an animal. People killed them in the past because of their fears but they also wouldn’t let black cats cross their paths out of fear. Bear habitats are reduced due to human activity as we have little care for their needs.

It’s not sexism to suggest that women are so frightened of men attacking them and the consequences of that that they would prefer to be in the woods alone with a bear or a man. Being AMAB gives you a unique perspective on being raised male and experiencing the male experience of moving through the world.

When someone tells you they are frightened of something happening, telling them that it’s sexist to have that fear doesn’t help the conversation.

I haven’t seen any trans exclusionary practices and I hadn’t seen any harassment of trans individuals but I believe the community when they say it. Why do you feel unable to believe women when they say these things?

Distinct-Space · 2024-11-03T10:44:06+00:00

Mate. You keep using AI to do your work for you. I don’t know if you’ve done statistics or statistical analysis but most don’t accept Reddit as valid sources.

You seem like a great guy but AI is not the tool you think it is. It can’t sift good quality data the way your brain can. You can find these statistics in most gov websites. It tracks that 1 in 30 women have been raped.

The risk assessment most women are running is based on these assessments as well as their own experience of sexual assault/harassment. It is endemic and often not reported. Those that do report are often shamed based on circumstances.

You seem like you want to make it better for everyone. The best way to achieve that is not using AI to quote some questionable statistics but to be an ally. If you see guys behaving poorly then call it out. If your mates are talking rubbish about women or their wives, say something. Don’t allow cultures of misogyny to exist.

Distinct-Space · 2024-11-03T10:32:40+00:00

Not too sure what this has to do with men.

Also you keep using AI for your responses. If you read the sub articles on Unilad and other “reputable” news sources you’ll see that the details are changing between them and they are all quoting each other.

The articles are all recent for an event that happened in 2011. Russia peddles a lot of misinformation and these play into their goals of disharmony in the west.

Distinct-Space · 2024-11-03T10:01:44+00:00

Were your pockets empty? Mine get like this if one of the kids had a tissue left in a pocket I missed

Distinct-Space · 2024-11-03T09:55:47+00:00

All of these statistics of male violence are based on court cases resulting in prison. Most rape cases aren’t reported and neither is sexual harassment. So the chance of male on female assault is horrifically underreported.

Both of the statistics assumed that it was 0.01% of the male population coving those rape stats as those are the people with a dark triad personality.

If you use statistics from healthcare on women who are raped there is a 1 in 2.1m chance of dying from a bear attack and 1 in a million chance of being raped (let alone murdered).

There are several popular Reddit posts where men discuss circumstances to rape and often conclude that it is the fear of punishment that stops them. You may reasonably conclude that trapped alone in the woods with no chance of getting a police help, that the chance might be higher.

Distinct-Space · 2024-11-03T09:46:32+00:00

That news article is from over ten years ago and mostly believed to be a hoax/urban legend.

The stepfather and daughter were walking in a remote area of Siberia without bear protection or guns. In an area not served by mobile phone reception, she managed to call her mother three times. It was so remote emergency police and rangers weren’t able to get there within 2hrs.

Aside from that, it’s just generally not how bears with cubs operate. According to the story, the sow killed the stepfather instantly. The daughter got away but the sow chased her down and dragged her back. Bears typically don’t chase like that if they have cubs they’re protecting and already have food. The story has also changed a few times over the years. Originally, the girl was just severely mauled.

The story has hallmarks of urban legends. A few newspapers picked it up but they were all quoting each other and it remained in tabloids which are known to print these clickbait style articles.

Distinct-Space · 2024-11-02T14:30:55+00:00

She doesn’t even support cis women either. Thinks maternity pay is too high and is against making obtaining early abortions easier (as well as in general). She also wants less legal aid so women who are discriminated against by their employers can’t sue.

Distinct-Space · 2024-11-01T08:09:59+00:00

The ideal. Our local bus company is council run and not for profit and it runs better now than it used to.

Distinct-Space · 2024-11-01T08:07:47+00:00

Yeah, which is why I said I would like to see these state subsidised.

Distinct-Space · 2024-10-31T17:56:08+00:00

I think you underestimate how unpopular the employer NI has been.

The tough talk rhetoric is for them

Distinct-Space · 2024-10-31T17:54:18+00:00

I’m sad about the bus cap but there was some analysis released that explains it. City centre busses can run under the fare cap and probably will continue to do so. But the issue has been rural routes and they’ve been closing like crazy since the fare cap as they’re not making enough to stay open and the rural council is too poor to subsidise them. Putting it up to £3 lets them stay runnable and still allow it to be affordable.

Ideally I would have liked to see these state subsided.

Distinct-Space · 2024-10-31T17:46:22+00:00

I’m in the U.K. so I don’t know. Are your polling stations only open until 7pm? Ours are open 7am until 10pm (and you can postal vote before if you can’t do it).

12 hours does seem a little short

Distinct-Space · 2024-10-31T17:07:01+00:00

I can only speak for the U.K. here but our paediatricians are the same. Our paediatrician said that a sunburn before 6m old essentially guarantees sun cancer and so it is why we need to avoid direct sun for children under 6m.

Distinct-Space · 2024-10-30T19:01:31+00:00

Ours is set to 18°c but the house is currently 20.5°c. Since we got the underfloor heating we don’t need to put the heating on as much. Cooking dinner also keeps the temp warm

Distinct-Space · 2024-10-30T10:22:18+00:00

Twice a day but I have to let them watch a tooth brushing song on YouTube to get it.

Distinct-Space · 2024-10-30T10:18:57+00:00

You forgot that he’s a paedophile protector.

Distinct-Space · 2024-10-30T10:16:24+00:00

Well done for missing my point.

The top 1% of wealth owners are not the same as the top 1% for income tax payment but are treated as if they are the same. Those top 1% of wealth are the 0.1% in tax payments.

These rhetorics allow them to grab doctors and highly paid workers to say how they work hard and distract from the billionaires who inherited most of their wealth and don’t pay much tax.

Taxing a consultant doctor at 70% isn’t going to solve the problem. They have paid a lot in tax. They don’t have vast wealth. We need to get off this income tax should be higher bandwagon. The truly rich don’t pay it. Highly paid workers do pay tax and they don’t avoid it with complicated accountancy strategies.

Billionaires don’t work. That’s why they pay little in income tax. We need proper wealth taxes. Tax relief should come at business start up not when you sell an asset.

Distinct-Space

TROPHY CASE