Yes Troels Povlsen the father of Anders Polvsen.Was it Danes that bought Lowesmoot Farm then?
Yes Troels Povlsen the father of Anders Polvsen.Was it Danes that bought Lowesmoot Farm then?
There is always a BUT - with land you have to spend money to maintain it, there is another thread here where some body mentionsLand would yield around 1-2% return on investment around the West Midlands... just for renting it out... let alone farming it... so that is a 10 times better return on investment than UK government bonds at present...
Those who pay inheritance tax have either died unexpectedly, or not taken decent advice. You don't need a field to do it, and in any case a field would be exempt as business property. Apr is essentially just for the farm house.
The tax should be done away with. At present none of the rich pay a cent because they can afford legions of accountants and enter into all kinds of schemes. Meanwhile the poor bloke whose worked all his life just to own a house has his kids smashed by IHT merely by having the misfortune to die? It's a joke tax devised by government to slap another tax on the people who can least afford it whilst as usual, the wealthy pay fudge all.
I hold my breath about what is to follow the new shift in farming sub, my gut says this cap they have triggered is going to continue, so even if subs in one form or another the large payments may not continue.
What that means for land prices is anyone’s guess but if it means the big farms getting split up and rented land being dropped, then as the big players don’t want it my guess is the smaller farmers will but at less rent cost, but if no one wants to rent or buy prices will fall.
It will come down to what’s the governments goal, if they want new farmers new entrants then this is a way to do it, cap the max payment and let land prices fall where they may, to generational farmers it matters not a jot how low land prices go because land is their living, they will hold it regardless. To investors they may get cold feet they may not, but a shift in IHT may force them out, and that leaves a lot of land on the market I see the government buying it and setting up a lot of small holdings.
getting back to he current system £3 billion supporting about 138,000 farmers not all will be claiming but that’s the number, it sounds great but actually about 10% of the farmers get 90% of that £3 billion
So unlike if it was shared equally and we all got £21 k each that’s very generous for the tiny farmers not at all for the big.
We have now about 1380 farmers getting about £2 million each. The other 136620 farmers averaging only £2000 while this is not accurate and farm size moves these numbers about we can see that the system is broken. We are giving massive amounts of tax payers money to already wealthy people or companies.
What’s realistic they cap sub and let land prices fall and setup new farmers, so get more people and families back on the land or more of the same we have already seen?
Buy just capping it at £100,000 at saves them 1380 Farmers getting the average of 2 million each Saving 1.9 million each so saving tax payers £2.62 billion slashing support to farming to only £400,000,000 What’s likely in your eyes?
if they really wanted to get new entrants then just averaging it out so the £21k number it helps the small grow Massively and Existing Bigger farmers with a token amount to live on. I also see a drop in production happening at the same time as all this pain which can encourage prices to lift Or At least stabilise them, local supply Always help underpin local prices.
If small farmers where getting £21k sub that drives them to expand and rent land buy tackle to expand with but it stops that top 10% getting richer on tax payers money. If they are so profitable These big farms then they will survive with just that £21k
But my vote goes to a cap and a shift to support for new entrants and small farms this slashes the support budget By 2 thirds To under £1 billion. It’s a no brainer. Anyone that thinks differently is deluding themselves.
The tax should be done away with. At present none of the rich pay a cent because they can afford legions of accountants and enter into all kinds of schemes. Meanwhile the poor bloke whose worked all his life just to own a house has his kids smashed by IHT merely by having the misfortune to die? It's a joke tax devised by government to slap another tax on the people who can least afford it whilst as usual, the wealthy pay fudge all.
Not at all. Currently there is zero incentive to invest in anything but ones own house. Now they want to be able to pass their house on when they die, but not pay care home fees. Total lack of balance.
Do you know what Adrian and Michael are doing now? I heard the Michael was going to keep some Herefords on his son in law‘s place? I was a pre college student there back in 75/76Yes Troels Povlsen the father of Anders Polvsen.
Aha, you’ve just discovered UK Politics. No long term plan! Live for the here and now! That’s why investing in the UK is perhaps seen as a risky business. If we want to re build or should I say re shape the UK economy, then the dimbos in Westminster need to think like that Japanese - long termNot at all. Currently there is zero incentive to invest in anything but ones own house. Now they want to be able to pass their house on when they die, but not pay care home fees. Total lack of balance.
What’s realistic they cap sub and let land prices fall and setup new farmers, so get more people and families back on the land or more of the same we have already seen?
Buy just capping it at £100,000 at saves them 1380 Farmers getting the average of 2 million each Saving 1.9 million each so saving tax payers £2.62 billion slashing support to farming to only £400,000,000 What’s likely in your eyes?
if they really wanted to get new entrants then just averaging it out so the £21k number it helps the small grow Massively and Existing Bigger farmers with a token amount to live on. I also see a drop in production happening at the same time as all this pain which can encourage prices to lift Or At least stabilise them, local supply Always help underpin local prices.
If small farmers where getting £21k sub that drives them to expand and rent land buy tackle to expand with but it stops that top 10% getting richer on tax payers money. If they are so profitable These big farms then they will survive with just that £21k
But my vote goes to a cap and a shift to support for new entrants and small farms this slashes the support budget By 2 thirds To under £1 billion. It’s a no brainer. Anyone that thinks differently is deluding themselves.
You can not be serious, I’ve just bought some land next door and the stamp duty is next thing to bugger all in comparison to the purchase priceIt's stamp duty that is the brake for land purchases.
Took me four years to pay the stamp duty on mine. It's a major disincentive for investment purchases if you're already 5 percent down on day one. This may be a good or bad thing. But it certainly is a consideration. I'd warrant the govt makes more in stamp duty from ag sales than it looses from the difference between Apr and bpr. At 5 percent, it's certainly a factor when comparing land to bond yields. But anyway, negative interest rates soon .....
The uk govt introduced a floor price for wheatAgricultural was on its knees between 1920 & 1939 , cheap food was what the Government's wanted , WW2 saved UK farming right up to joining the EU , which then gave UK farmers a very safe trading environment for 40 yrs , they say history repeats it self , fasten you seatbelts
Stamp duty should be paid by the seller, who is the party ”in funds”Took me four years to pay the stamp duty on mine. It's a major disincentive for investment purchases if you're already 5 percent down on day one. This may be a good or bad thing. But it certainly is a consideration. I'd warrant the govt makes more in stamp duty from ag sales than it looses from the difference between Apr and bpr. At 5 percent, it's certainly a factor when comparing land to bond yields. But anyway, negative interest rates soon .....
Released by who?Two units recently released privately to a select few for tender bids. 105 acres with a average house and buildings £2.2 million or above via private tender, and 140 acres with a decent house and a variety of buildings £3 million asking price. These went on the market 4 weeks ago and have sold according to the respective agents, although prices not disclosed. I can’t say Area as it was specifically not to be made common knowledge on both accounts.
There’s a good chance the seller will be paying capital gains tax and that’s likely to be a lot more than stamp dutyStamp duty should be paid by the seller, who is the party ”in funds”
Better to abolish it and replace with an annual tax
I thought Lincolnshire was all flat and didnt have any trees?