As above, should we be worried.....?
Wealth Tax
- Thread starter The Arable Farmer
- Start date
Cab-over Pete
Member
- Location
- Kenilworth, Warwickshire
I’ll be absolutely fine.
- Location
- Near Beeston Castle
I am wealthy, most farmers are but usually deny it.
One measure of wealth is the value of your house, mine is possibly worth a million not because it is a mansion but in an affluent rural area and has land with it. How do you apply a tax to that without making me sell it, and surely a tax system that did do that would simply lower its value and therefore no longer worth a million?
One measure of wealth is the value of your house, mine is possibly worth a million not because it is a mansion but in an affluent rural area and has land with it. How do you apply a tax to that without making me sell it, and surely a tax system that did do that would simply lower its value and therefore no longer worth a million?
farmerm
Member
- Location
- Shropshire
Hell, I though Corbyn and McDonald lost the election! 
Campbell
Member
- Location
- Herefordshire
I was told many years ago that the French have an "apparent wealth tax". Based on what your farm and associated kit looks like. I'm in for a rebate if that happens.............
- Location
- south norfolk
Most farmers are asset rich and cash poor
Nick...
Nick...
The devil is in the detail. A wealth tax would just mean spending lots on good accountants and solicitors that help you mitigate that tax. Would it just be based on asset value or profitability? A heavy handed wealth tax would just kill private enterprise and the economy. Taxing a % of asset value would be pointless in an owner occupier farming system where the return on value is already 1-3% only.
This hasn't been talked about since Jeremy Corbin became Labour leader and appointed John McDonnell as shadow chancellor.
You don't multiply wealth by dividing it.
This hasn't been talked about since Jeremy Corbin became Labour leader and appointed John McDonnell as shadow chancellor.
You don't multiply wealth by dividing it.
spin cycle
Member
- Location
- north norfolk
who's talking about a wealth tax 
....i puzzle about a wealth tax on property because essentially it's valued by factors outside your control largely by govt....so in effect they engineer the value of your property going up then tax you on it
....i puzzle about a wealth tax on property because essentially it's valued by factors outside your control largely by govt....so in effect they engineer the value of your property going up then tax you on it
Exfarmer
Member
- Location
- Bury St Edmunds
If you ask Jo Public , most would be quite happy to have one and generally speaking set at a level 2-5 times what they own!
And on average , that is not a lot!
And on average , that is not a lot!
who's talking about a wealth tax
The government doesn't control the economy as such. They can create the conditions for it to flourish or slow down. Oddly enough the last Labour government made lots of millionaires with property, not least the Blair family!
Nearly
Member
- Location
- North of York
You'll soon be a neighbour?
Steevo
Member
- Location
- Gloucestershire
If the wealth tax was based upon the full value of the assets the posess, rather than the assets they own it might change things a little and reduce the mad borrowing culture in this country.
I'm not saying I support it, but if someone driving a £50k RR Evoque Sport on PCP was taxed at its full value, vs the Fiesta owner driver who bought it for £10k with low mileage was taxed on its value, the world might settle down a bit.
Same with those on 95% mortgages etc.
At what level should the Wealth tax start? ?
spin cycle
Member
- Location
- north norfolk
cutting interest rates increases property value
lloyd
Member
- Location
- Herefordshire
- Location
- Fife
We already have a wealth tax on residential property, it’s called council tax.
glasshouse
Member
- Location
- lothians
But they were not labour
Blair was A tory plant
Yeah , well we knew someone was going to have to pay the furloughing on 80% of the population for the last 3 months +.
That someone is us......
That someone is us......