Are we heading for a massive IHT tax grab

[Boomerang]

Are Farmers, landowners , in the firing line for labour tax grab ..
Farming families could be devastated by IHT.
Depends what they do of course but has all the potential to ruin some. And destroy years of hard work.
Country is well and truly f**ked.
What can be done about IHT tax grab .
If they close ALL loopholes jobs bollocksed

 

[Nearly]

Don't die in next 4.5 years.

 

[britishblue]

Our accountant assured us that they would never get such a grab through the House of Lords. I hope he is right. If values plummet as would inevitably happen I suppose it would all depend on what valuation was in place when you inherited.

 

[serf]

If values plummet as would inevitably happen

It's not just looking at the land value being less so less potential IHT bill but the otherside of argument too if land values halve and land is highly leveraged the banks will do a margin call and insist on the the shortfall being made up or calling in Thier debt to cover their position !

 

[Clive]

they have already said they don't plan to change APR / BPR I think ? there is another very similar thread to this

 

[Clive]

It's not just looking at the land value being less so less potential IHT bill but the otherside of argument too if land values halve and land is highly leveraged the banks will do a margin call and insist on the the shortfall being made up or calling in Thier debt to cover their position !

it would crash the economy that is built on property debt - banks would go sub prime and we all know how that went last time

 

[serf]

it would crash the economy that is built a property debt

You'd think they realise this but you never know when they are doing tax policy for vengeance and ideology and not for necessity

 

[Still Farming]

So devalue land in Wales with all the SFS trees and Habitat.

 

[serf]

they have already said they don't plan to change APR / BPR I think ? there is another very similar thread to this

The only certainty I heard was income tax VAT and another tax ( forgot).
but not heard explicit APR BPR

 

[Boomerang]

You'd think they realise this but you never know when they are doing tax policy for vengeance and ideology and not for necessity

Depends how bright they actually are.
And also reasons behind their actions/decisions.
They are politicians = lying ,back stabbing, cheating conniving barstewards .
Not economists , only in it for their own ends .
For the good of the country, not a hope.

 

[Barleymow]

Local land agent predicting land to be £6000 an acre before too long

 

[jackrussell101]

If they need money quickly a wealth tax or property tax would be far more effective, IHT take would be a slow burn, in any case its disgusting to tax someone's assets that have been created or bought with taxed income already.

 

[topground]

Dyson only bought half of Lincolnshire because of IHT relief thereby putting a floor in land values if not boosting the value. Take away IHT releif and land values drop. The Banks then will be faced with borrowing against land values not being supported and a subsequent crash. Unless the Labour Party and the Treasury are no longer talking to the banks it won’t happen.

 

[jackrussell101]

I honestly think with all the regs and rules that we have to put up with, weather, input costs, interest rates etc etc and then to go and whack a monster tax on it all, will all small business owners just shut up shop and walk away?

 

[livestock 1]

The only certainty I heard was income tax VAT and another tax ( forgot).
but not heard explicit APR BPR

National insurance

 

[serf]

National insurance

Is the correct answer

 

[livestock 1]

Is the correct answer

That’s what the old cow bag said

 

[Green oak]

Local land agent predicting land to be £6000 an acre before too long

You missed a 0 OUT.

 

[Still Farming]

Local land agent predicting land to be £6000 an acre before too long

Not much under that around here now

 

[David.]

Local land agent predicting land to be £6000 an acre before too long

Did you tell him to ring when he has 200ac for you?