5 year IHT exemption freeze

[Bossfarmer]

is this as it sounds? Inheritance tax relief on farmland is frozen for the next 5 years?

 

[farmerdan7618]

is this as it sounds? Inheritance tax relief on farmland is frozen for the next 5 years?

No, the thresholds have been frozen - nil rate band, residents nil rate band, and annual exempt amount.

No change to APR, and has not been fixed for 5 years

 

[Bossfarmer]

No, the thresholds have been frozen - nil rate band, residents nil rate band, and annual exempt amount.

No change to APR, and has not been fixed for 5 years

so they could still remove the relief at the next budget?

 

[farmerdan7618]

so they could still remove the relief at the next budget?

If they choose to, yes.

 

[Johnnyboxer]

so they could still remove the relief at the next budget?

Of course, just softening it up

 

[GeorgeK]

Of course, just softening it up

They'll have to do something, only days into a new budget and already the sums don't appear to be adding up too well for Rishi 'Whatever it takes' Sunak

 

[serf]

They'll have to do something, only days into a new budget and already the sums don't appear to be adding up too well for Rishi 'Whatever it takes' Sunak

He ' or his his family could single handedly clear the national debt !
Shall I suggest it to him next time I see him

 

[GeorgeK]

He ' or his his family could single handedly clear the national debt !
Shall I suggest it to him next time I see him

Makes me laugh how it's so often referred to as Sunak being generous. It's our money!

 

[Exfarmer]

Makes me laugh how it's so often referred to as Sunak being generous. It's our money!

Our money? Are you sure? I think most of it belongs to the banks

 

[serf]

Makes me laugh how it's so often referred to as Sunak being generous. It's our money!

He seems a decent chap tho and gives us time to get used to him for when he is PM ,
Could be worse could be Gordon there

 

[Clive]

so they could still remove the relief at the next budget?

wouldn’t worry if you are a farmer and not just a landowner as BPR deos the same as APR

Removing APR might be a good thing for actual farmers

 

[farmerdan7618]

wouldn’t worry if you are a farmer and not just a landowner as BPR deos the same as APR

Removing APR might be a good thing for actual farmers

Two schools of thought on this,
Either land ownership and farming are not linked, and APR allows wealthy individuals to buy land that can be farmed by farmers who don't/can't invest in land - I fall in this camp

Or, APR encourages tax sheltering and pushes land prices out of reach of farmers, and should be abolished.

 

[ewald]

This is just the beginning - Covid is going to make austerity look like a walk in the park

And now the nurses are going on strike - people will have to realise they are lucky to have a job. Ask anyone who works in a pub

 

[Bald Rick]

He seems a decent chap tho and gives us time to get used to him for when he is PM ,
Could be worse could be Gordon there

Don’t fall in to the trap ...

Freeports
Non dom tax status
Hedge fund rules

He’s as cuddly as a porcupine

 

[serf]

Don’t fall in to the trap ...

Freeports
Non dom tax status
Hedge fund rules

He’s as cuddly as a porcupine

I'd be more concerned if it was John Mcdonnell there!