Shadow environment secretary Victoria Atkins has urged Labour to rethink its policy on planned changes to inheritance tax for farmers.
Discussing the issue with Skyโs Kay Burley, she spoke of โbroken promisesโ for farming in the recent budget, adding she is โgenuinely shockedโ that Labour is pursuing this โdisgraceful policyโ.
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i stand with the farmers of this country the government need to understand this country will not forget this and every labour MP should be on the protest march supporting Farmers #together
Worst interviewer ive ever seen. So spiteful.
It will be too white and racist. Tax tax tax but can send millions abroad and pay for hotels
Family farms will have to sell land to pay for inheritance tax , soon they will be uneconomical. BlackRock will be buying the land to make large industrial farms with poorer food standards. The government perhaps want the land free of farms to be covered with windmills and solar panels and building housing to cater for the soi-disant immigrants seeking political asylum.
Torys talking about broken promises.
Its a win-win for labour. They can get money and use it buy land now to build their green energy on. I'm too old for this world.
Here are the facts.
1) No IHT on land value under 1m and 3 mil if a couple. at 20% not 40% like everyone else 1/2 of everyone else.
2) Land prices have increased because rich people faking farming to enjoy the tax loop hole. Land prices will drop as they sell and farmers can buy at better uninflated rates and do what they enjoy.
3) Payed over time 10 years interest free time to pay it… INTEREST FREE !!!
4) On the Subject of Agri Equipment nearly all of the assets used in a working farm will attract either agricultural property relief (โAPRโ) or business property relief (โBPRโ) at 100 per cent. This means that no IHT is payable at all on the transfer of these assets.
5) According to current tax information about 500 estates are actually affect a year out of 209,000 farm holdings as of 2023.
6) Affected only when the IHT is applied.. This not something that's constantly happening to any 1 individual all the time and can already be planned for and avoided…
6) 7 years time to gift it and even then its Tapered (3 to 4 years โ 16%; 4 to 5 years โ 12%; 5 to 6 years โ 8%; 6 to 7 years โ 4%)
Get labour out
That presenter is a joke. Mainstream media once again one side in favour with Labour. Sky news your a disgrace. ONLY 5% are affected she keeps saying. YES 5% so what is the government gonna do to support them
Pity the Tories where so useless for five years, these Tory MPs are the same Tory MPs in suniks government so why should anyone trust a single one of them they are liars just like Labour. I wouldn't trust a single Tory or Labour MP with anything. They've messed up pretty much everything that was working and good and broken it to bits.
I couldnโt pay my rent either. Because the tories took most of my income in income tax and national insurers
Here's an idea, instead of stomping on our necks and hurting our farmers. Maybe put a cap on MPs' wages and expenses accounts. Or maybe the make royals pay taxes on big companies on the millions of pounds they don't pay taxes now.
Her corporate backers must be really giving her a hard time. Must be threatening to take their money back
Renters are cash poor and asset poor. It's hard to empathise.
They just expect us to find it. ๐
Nobody should pay rent. End British feudalism.
Why is it okay for Labour MPs to lie and lie? Starmer is a serial liar and has infected his entire party.
says a Con who made themselves unelectable leaving the door wide open for this Labour Communist Party to deliver as promised their version of Socialism with British characterises, the British "Great Leap Forwards".
Why increase costs on the primary producer when they want cheap food policy??
So, one way to mitigate this and solve the farm tax issue is to remove the imposed tax but cut some of the benefits that other taxpayers enjoy from farmers. They pay their bills; no government assistance. But inheritance tax, remove. Let farmers have more money and wealth so that they don't have to depend on the government for things.
That Sky woman is clearly a socialist sheโs a disgrace to her profession
Pay the tax like everyone else. The argument against is so weak. Hugely preferential terms for payment. Totally agree with labour gov.
Do we need this low level pair
It's starting to get very boring now. They are being asked to pay 20% tax on assets over ยฃ1million and 10 years to pay interest free…….. Imagine the uproar if they had to pay it at the same rate and the same way the rest of us do….. If only as much energy had gone into ptotesting the decimation of the food industry that Brexit caused and affected all of us. And as for an Tory ex minister trying to lecture us all on how it is for the farmers is laughable. Next
It may be her job to question forcefuully her quests but there is no need to have a look of complete detestation towards the farmers who are the subject matter.
A farm worth ยฃ1 M is a market garden with a small house and a couple of tractors. Get real.
Victoria Atkins is clearly lying ๐คฅ , and the interviewer is part of the lie.
Her numbers are totally wrong – the 500 acre example would only pay an IHT of 400k. A 500 acre farm is in the top 2% of farms in terms of acreage and would/should be earning way more than the 45k (the average earnings of a farm last year) quoted by her.
On top of this, there is the option to gift parts of the estate to reduce the overall tax bill further.
I also predict that once the millionaires that are trying to buy the agricultural land to avoid IHT realise it is no longer a viable avenue, the land will decrease in value and then even less farmers will be over the threshold.
Take money from the national insurance or found the money from some were
Joke Tinpot PONCE country๐๐ป๐ด๓ ง๓ ข๓ ฅ๓ ฎ๓ ง๓ ฟ
Joke FINISHED union ๐๐ป๐ฌ๐ง
๐ด๓ ง๓ ข๓ ณ๓ ฃ๓ ด๓ ฟโฎ๏ธ๐ช๐บ
I love basking in the impotent rage of all the right wing nutters on sites like this knowing there's nothing they can do because Labour are in for 5 years at least. AAAAAAH Bliss!๐คฃ๐คฃ๐๐๐คฃ๐คฃ๐๐๐คฃ๐คฃ
I feel sorry for Kay Burley. How must she feel having to play Devil's advocate for this spiteful metropolitan government ?
the money will be spent on debt interest
Hiding behind the failings in the NHS. The NHS has nothing to do with the mass selling off of prime farmland.
Shadow minister ๐๐๐๐ job title explains her to a T……what does she know……I thought she was health minister…..oops thats right she got booted out ๐๐๐…She hasnt got a clue…….Farmers loophole getting shut down…….they wana sell there land to private buyers……TORIES……and they dont wana pay tax…….its funny how the Tories are all jumping on this one…….Most famers are Tories ๐๐๐ so that cant sell there land to there mayes …..Fooking hel she was yreasury minister and blabbing out truth ๐๐๐๐ the truth is She and her Tory pals fooked the uk and left us with a black hole……awww who cares about land owners might end up …….This woman need to go to see a doctor because 1 min she is this monister then the next she is this minister and now she keeps telling lies…..a think she needs to see a Doctor ๐๐๐
I truly hate this woman