@@antirus5481 as long as the value of their assets is not overestimated they can. And yes you need save guards in place to prevent overestimation. The simplest one would be, that you are allowed to pay your tax in assets.
Rebecca you came across really well. Clearly upset, frustrated and annoyed you put your point over brilliantly! Richard and Suzanna thank you for giving this time to be discussed properly. Stop the farm tax.
@VincentVance-j4w Yes. The only reason I need to support farmers is that socialists hate them. Whinge all you want about all that supposed wealth you want to steal, I won't let you.
Yes as shown by the recent action by the Minister for the DWP that has used Government credit cards for personal shopping to the tune of thousands of pounds
One million pounds seems like such a low number for a family farm. This is a ridiculous law and should be repealed as soon as possible or altered so the minimum amount is much much higher than one million pounds.
This guy has no clue.... and refuses to listen. That 'wealth' is never realised in cash terms. Its passed on so it can remain in service to country and its food production. If it gets sold, land values are so out of whack with how much the land can produce financially making it highly unlikely that a plot will be bought for food production again.
You haven't got a clue, the Farm is now worth £10 million, they probably acquired it 100 years ago for a couple of hundred thousand pounds. So they've created £9.8 million of wealth and haven't pay a h'penny tax on that wealth creation. The trouble with rich people is they always argue "We're cash poor" so we shouldn't be taxed. If Rebeeca is as she claims earning less than the minimum wage then she probably doesn't pay any tax at all ... but was schooled for free, uses roads, NHS, emergency services and so on. The trouble with the rich is they think they can get richer and pay nothing back into society ... IT'S CALLED GREED !!!
When a farmer is worth 3 million, its not that they've got 3 million stashed away in the Cayman Islands. Every pound in that 3 million is in the farmland, in the buildings, in the machinery, all of which is used to produce the food. Furthermore, it is the farmers themselves that do the manual labour, barely breaking even most often. This government is living in its own reality, farmers are not some kind of privileged bourgeoisie class. Unlike their donors.
the people who own the farms employ farm hands, who they treat appallingly. I have personal experience of Shropshire farmers and they'er an insular and generally miserable lot.
No she didn't. Like most rich people she tried to argue that she has a farm worth £10 million and didn't see why she should pay IHT on it. This is the greed of the rich in our society. They earn 90% of the income but pay less than 50% of the tax, so the poor man in the street has to pay ever more. The result 60% of the population of the UK has no savings. Constantly funnelling wealth to the top has to stop and be reversed !!!
@@william_marshal why are you entitled to someone else's property, business or money? The top 10% of income taxpayers with the largest incomes contribute over 60% of income tax receipts, the lower paid do not pay more
@@seanvance1933 We pay for their products. Their business would not function without us. The relationship is symbiotic and wealth of a nation must be shared, within reason. Are you implying nobody should pay any tax?
@@ewanmcgregor5942 You have a choice as to whether or not to buy their products. Farms are unique in that they are asset rich but income poor, but vital to the nations food security. Why are you entitled to a share of something you have made no contribution to? Buying a pint of milk is not a contribution. I am totally against inheritance tax of any kind
Well done, Rebecca, you did a really good job despite that patronising man constantly interrupting you and acting as though you know nothing at all about your family business and your livelihood. The farmers have my full support, they are being treated terribly, and they deserve so much better.
Farmers can't lie in bed on Sundays , like city slickers ; many farms were sold off after WW1 , as no one to work the land . My family estate with several farms was sold off to a man who made his money out of producing army uniforms .
@@barados2006 seems like you never actually watched Clarkson's farm.. he made a loss in most of his fields one of the years. the little they make they want to keep in the family yes..
Yes, this ex-Labour minister is a bloviating bloated MP! Who is BS arrogant merchant who labels the struggling farmers with the patronizing hysterical! He is spewing typical Labour talking point tropes! Basically, he talks absolute CANT! (note the different spelling on that word! It doesn't have a "U" in it!) LOL
You fail to understand what's actually going on. Rich people are buying land and pretending to own farms to avoid the inheritance tax. Most of the farmers don't actually own the land, rather they're leasing it and thus the real owners get to avoid the tax.
I side with the farmers and think they should just go on strike, after all it worked for train drivers and junior doctors and they were already on a proper decent wage
@@54stevemacThe Tories promised to replace EU subsidies with UK subsidies, which they didn't do. The UK also paid into the EU which funded the EU subsidies, so they had the money to pay for UK subsidies. Since they didn't pay for UK subsidies, that then means they pocketed money. But that doesn't fit your narrative, so you ignore it
Rebecca you’ve conducted yourself beautifully against this silly politician who deems to know more about farming than actual farmers 😅 I’m pretty sure this inheritance tax was the ‘straw that broke the camels back’ for our farmers and I’m behind you all 100%💜
@@phillipearmstrong5510 I’m saying that it’s a circus 🤡 the gov pit us against each other so we don’t pay attention to the politicians getting away with thousands…
waste spending on illegal immigration, diversification officers in the NHS on bloated salaries,loads of waste in NHS i know as friends work in it,13.8 billion in foreign aid !! Mis managed projects like HS2.. and covid track & trace complete bozo mps wasting tax payers money to the tune of billions i could go on!!
@Jeevessss I'm not from Britain. Just a small homestead farmer near Amqui Quebec. I'd give a long list of examples from Canada that you probably have in common over there cousin, but I want to visit my family roots someday and don't want to get arrested for hate speech 😉 We have a group called the Canadian Taxpayers Federation. They just put up a yt video listing some of the crazy examples on the books. If it's happening here, I'm sure you have it too. I'm just praying I won't have to register my chickens any time soon 🙏
@@Papito_gman5.0farmers are asset rich not cash rich. They rarely make any money and even if they do it’s spent right back into the farm. This is a policy of envy
Wish peole understood basic economics before posting. Assets are not equivalent to liquid cash. Having a £3 million farm does not mean your income is £3 million.
@@blzebub2 You wouldn't get £3m to spend. According to the Farmer's Guardian income from livestoch farms dropped to £17,300 in the last year. That's less than the minimum wage and you'd have to work your nuts off to get it.
@ it’s the fruit of her own labor the children literally start working when they are 5 years old doing chores. It’s a life long commitment. 24/7 365. It’s not taxing profits it taxing blood sweat and tears. It’s like saying your mom is dead give me 20% of everything you own.
@ I am opposed to inheritance tax in general. Everything has already been taxed once so why is it taxable again? It’s the only way poor people can escape poverty in many cases.
@@magoop17few shops at 1M ,can be used for other trades ,land stop on production and use change ,solar farm or development not farming even if they could rent it again .
He has forgotten about the fact that most farmers have a tractor a combined harvester, a trailer etc...... i support the farmers 100% and this country needs to stand behind them inheritance tax should be abolished it is a tax on death when people have followed the rules and already paid there taxes ......Labour Shame on you we will never forget this
@@Newman79-zg6yware you willing to have food shortages as family farms go out of business and the intergenerational knowledge of food production is lost? Are you willing to have your food prices go up?
@sookibeulah9331 Look up the government website titled 'Agricultural Relief for Inheritance Tax' created by HM Revenue & Customs in 2013 (I.e. the old rules.) This says 'Some agricultural property does not qualify for Agricultural Relief, including: farm equipment and machinery.' So no you don't need to be an expert, all you need to do is just some basic research on the subject.
@@Brickwell99 Brexit has nothing to do with this nor did anyone vote for this because Labour said they wouldn't increase taxes in their manifesto. There is no incentive for anyone to do well in this country - its full of champagne socialists like yourself @brickwell99
Well said young lady ,the public are behind and totally support you with this shameful decision that should be reversed immediately along with the winter fuel allowance.
I'm not behind her. She has a Farm worth £10 million and hasn't paid a penny tax on it and doesn't want to either. We've had enough of the greedy rich !!!
@@william_marshal I say we deport all the greedy rich. The ones that pray five times a day facing Mecca, not the ones who earn less than minimum wage and aren't rich at all!
Rebecca has a farm worth £10 million, wealth built up over 100 years and has never paid a penny tax on that increase in wealth. Everybody is liable to pay IHT so why not farmers?
Try cutting waste at the heart of Government. In fact most of government is a waste. The arrogance of that politician so sure that the public will turn against the farmers. We'll see.....remember most of us already take a dim view of this government. This is not Labour in 2001.
Rebecca held herself very well in that discussion and completely exposed the sheer ignorance of the Labour MP. Clearly the clowns in Westminster don't care about our farmers, shame on them.
@@leonardeast4971because he’s literally biting the hand that feeds the nation. Champagne socialists don’t under stand why farming and land owning go hand in hand. Livestock needs a vast amount of land for quality of product. Unless you want battery farms for cows and sheep, which to be fair if you’re a communist it’ll be a bit like the gulag for animals. The money the farmers make goes straight back into running the farm. Vet bills, fuel, seed, fertiliser, vehicles, staff wages and so on. Yes assets are worth a lot, but the farmer takes minimum wage to live. Taxing the landowner/farmer will close a lot of farms. That means we’ll be relying on substandard imports from other countries. I mean you might like chlorine based chicken and horse meat, but I’m sure the majority don’t. The agricultural budget is 2.4 billion, foreign aid is 13 billion. If the government were serious about pumping money into the public sector, then I’m sure they could have done it without even looking at farmers. This isn’t about fairness, it’s about control and if you’re middle or upper class Labour will stick their hands in your pocket without thinking about the consequences.
The lack of respect for farmers in the comment section is unbelievable. Farming is a tough life, it’s constant work, it’s not something many would leave city urban cozy living for, not for long. We need food security and to not overly be at the mercy of other nations for our food. A tiny percentage of our population but they produce a majority of our food we would otherwise have to farm for ourselves…respect them and protect them.
@@matthewmolina2706 my original comment was regarding the comment section of this video, not if our government does anything for farmers. Not aware of your view on it but they get subsidies, it helps protect farming, it’s fundamental to a nation to be able to have a level of food security
no different to the building trade we work all hours in all weathers to build the houses you all live in,if a builder works all his life and builds a home and leaves it to a child of theirs then they have to pay the full IT on it so why shouldnt farmers
@@silverfox2358 He works very hard. Now your brain can't be in working condition if you don't know how much our King has done and worked for the people of this country. Sheer ignorance!
That advisor is so misinformed, they are smashing the countryside and will just feather the nest of big corporate business who will buy the land and they’ll never pay inheritance tax on that land again.. If you want to stop the loop hole then make the relief based on it being a working farm…. Surely that’s the goal not to discourage people investing in working the land.
Hmm 2001 Labour got rid of the coronary care unit at Llandudno General hospital then spent £60M on the London dome. This Labour MP really is full of it
The rationale behind the changes is clear: for decades, farmland has served as a tax shelter for the wealthy. Introduced in 1992, the inheritance tax exemption for farmland allowed multi-millionaires, and in some cases billionaires, to avoid significant tax liabilities. Economist Tim Leunig pointed out that farmland became "the best way to leave £100 million to your kids," exacerbating wealth inequality and inflating land prices in the process. These inflated prices have made it difficult for new farmers to enter the industry, for tenant farmers to purchase the land they work, and for communities to buy land when it comes up for sale. In this sense, the uncapped relief has been detrimental to farming. Labour’s introduction of a cap aims to close this loophole and prevent land from being a convenient tax dodge for the ultra-rich.
Farmers have enough trouble without this tax. When a farm has been in the family for generations, they should be able to pass it on to their children without causing them to sell off.
Does that apply to council houses ? no of course not , just the rich , the ones at the top are the only ones who will be affected, they are using the plebs to support them as the idiots supported Farage with his brexit along with the farmers . who would want Clarkson speaking on their behalf . calling the BBC, who he has paid millions over the years for talking nonsense
Totally agree, the biggest land owners / farmers are all dukes whos ancestors fairly stole all of their land 100's of years ago. So they deserve all of that land that their ancestors fairly stole we should not be taxing these most wealthy members of society, tax the poor, tax the poor.
No they shouldn't , the trouble they find themselves in was self imposed with their voting for Brexit ,why people on minimum wage would b esiding with the likes of Clarkson is beyond belief an out and out thatcherite
Save money by not putting up illegal immigrants in hotels ! You'd save far more than you say you'll gain from farmers inheritance tax. You say they're passing on great wealth..No They Are Not !! The farm is only worth that if it is sold to energy companies or house builders. Its purely a work tool for farmers to produce our Food. Cant believe the lack of understanding from MPs
14 years of Tory mismanagement of the immigration situation is no fault of this government.And those tories have agreed trade deals that are killing the industry and making exports to the EU too expensive.
The politicians do understand, they're Communists and think all property is theft. Except their own of course. Give Animal Farm a read. Politics of envy.
It applies for value over £2.65m. That seems perfectly reasonable to me. Other businesses are also not free from that. I looked up the estimates and it would only be 20% above £2.65 million, and the tax only starts above £2.65 million. So it only affects you really at 4 million+. I am also a fan of making the tax code as simple as possible. It should just be for all above £2.65 million. I would err on the higher side because small and medium farms do struggle the real big ones far less.
100% behind the farmers on this one. If government put as much focus on farming as they do on people that aren’t meant to be here we’d be ok. Their focus is all wrong!
Let's bump up the "value" of your worked land to get you above that inheritance threshold. Hey great plan, now every 2up-2down is worth a million quid! The money will just roll in!... what do you mean everyone is homeless?!
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 (“APR”) or business property relief (“BPR”) 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 - 16%; 4 to 5 years - 12%; 5 to 6 years - 8%; 6 to 7 years - 4%)
1) what about farmers that aren’t married or are widowed ? Given 40% of marriages fail in the UK are farmers somehow exempt from marital difficulties, despite being an occupation with very high rates of depression and suicide? 2) if this tax will decrease the value of land why are so many farmers so opposed to this? Do you think farmers don’t understand how land values work, or aren’t keen to see a drop in prices so they can buy more land at “uninflated rates and do what they enjoy”? High land values causes significant issues with succession when one adult child wants to continue farming and others don’t. Lower land prices will make succession planning easier, but farmers know this isn’t the way to lower land prices. 3) how is someone going to pay even £100,000 of IHT over 10 years if their profit and salary are under £20k. Are you suggesting that people who work without holiday pay, without sick pay, and without pension contributions should live off less than £10K a year so they can pay IHT over those 10 years? What happens if there’s bad weather that wipes out all their profit so they can’t make their £10K payment to IHT, are they given an extra year to pay it all off? 4) According to the government agri-equipment will attract IHT “From 2026, the first £1m of combined business and agricultural assets will continue to attract no inheritance tax at all…. but for [combined] assets over £1m, inheritance tax will apply with 50% relief, at an effective rate of 20%” So how do you think BPR and APR will be 100% exempt? 5) the 500 or so wealthy estates will already have tax advisors working on how to not pay IHT on their land through trusts etc. The average family farm can’t afford those advisors nor can they afford to jump through the hoops to make the advice work. So this won’t hit the wealthiest. It will hit the working family farms. 6) the average age of UK farmers is 59. 38% of farmers are over 65, and still needing to work into their late 60s and 70s. Those farmers don’t have “time to plan” especially as succession is always complicated. Wouldn’t those farmers already have retired if it was so easy for them to do so? 7) 7 years to gift the land. Where is the farmer supposed to live once they’ve gifted their only asset? If they live in any property that’s part of the farm (an annex or granny flat) then it’s not counted as gifted. Very few family farms have planned pensions for the farmers. It’s why so many farmers work way past retirement age. How are farmers supposed to pay rent on an off-farm home if they only the basic state pension? (as low income earners they’ll have paid minimum NI so will only get the very basic) Should councils and housing association provide low cost homes for farmers that have gifted their land to the next generation? If not where do they live for 7 + years before their deaths?
Why should a going concern be it a farm or any other business be subject to inheritance tax? All it does is stymie investment in the business and therefore stop the very thing that self proclaimed economist Ms Reeves says is her main aim.
@@spacetime3 I’ve countered every one of your “facts” and the best you can come up with is comparing farming and the production of food to directors passing on their jobs 🙄 Directors generally make a good income, farmers generally don’t. It wouldn’t matter if most directors give up and close their companies. If farmers give up and stop farming we starve and essential intergenerational knowledge on how to produce food is lost.
Jeremy Clarkson invested £4.5 million on the farm he bought to avoid paying tax on it…..everyone should pay inheritance tax..even the Duke of Westminster who never paid a penny on inheritance tax when he inherited all those properties in London….definitely one law for them another for everyone else!!..
Clarkson is not a farmer, he himself declared to the FInancial Times back in 2021 that he bought farmland to avoid paying inheritance tax. Clarkson stop lying and pay tax like the rest of us
Farmers need to go away and work out inheritance tax for themselves land prices will drop now its tax and stop listening to rich people trying to avoid paying tax and are not genuine farmers
Clarkson literally said he was buying farmland to avoid Inheritance Tax. This Labour scheme is to cover people like him, not most regular farmers. That's why he is most vocal about this 'issue'.
did you see the farmers kick off about the pensioners loseing there heating allowance NO do most pensioners have millions of pounds to tax NO are they kincking off over pensioners having to pay tax on the pitance they get as a state penstion NO
It is not inheritance tax that is reducing farmers profits, manufactures and traders in food for supermarkets, who due to price competition want to sell as low as possible will force prices down for farmers. Farmers should be angry that the government have not protected them against monopsonist power of either the food manufacturers or supermarkets. Farmers make little or no return on their land which is crazy if you consider what it’s worth. Farmland has gone up recently due to some people buying a great deal of farmland to make use of the inheritance tax loophole that guaranteed that an estate could be passed on free of tax. Farmland has been used as a financial instrument and has not been used as an input into the farm production process. This makes it now, not an input into the liberal capital system but an input into the financial capital system, we don’t really have a liberal capital system anymore, the City of London has turned capitalism into a financial product system, farmland is just a product we use for financial engineering. So the farmers should want an inheritance tax charge on this land because if there was an inheritance tax charge on this land it would no longer have value or financial purposes, it would only have a value for farming purposes and for faming purposes it has no value at all, which means that they can pass on their estates to their children however they like with no tax charge arising, it solves their problem to have an inheritance tax charge. Farmers are protesting about the wrong thing, when saying inheritance tax is penalising them, it is not, it is actually helping them. Also if we have serious inheritance tax charges, the price of farmland will fall so much that new people will be able to enter into farming, because farmland will be affordable for people who want to become farmers. There is nothing that says farming is a purely inherited business, why should it be, like any other business people can acquire the skills to farm and not just through their genes. So it would be possible that if farmland fell in price because it wasn’t used as a financial product, new farmers would come into the business and that would be good for farming, good for our society and good for sustainability. Farmers should think this over, objecting this inheritance tax increase is therefore making life for farmers harder. Farmers need to change their economic arguments. They want the value of land to fall if they are going to able to pass on their farm to the next generation without inheritance tax charge, which you can always do if something has no worth and they want the value of farms to fall to encourage new entrants into the market, which the industry desperately needs, because the age of farmers is growing steadily. Farmers should demand action against the rigged market that prevents them from getting a proper price for their product, which is critical, a government that does not want to do that, is a government that is going to fail the people of this country, because we do need farmers for food security.
@@richardcahill1234 scrapping inheritance tax would only benefit the richest 1% of the UK and those in London and the South East there would be no direct effect on the more than 90% of people who do not pay any inheritance tax.
Whilst I agree with much of what you say, the land wouldn't be bought up by new small farmers, it would be bought up by businesses and used for solar and wind farms. It's all the Labour government is interested in and it's madness.
A 1 million pound tax bill - that means this family is sitting on a farm worth 8 million quid. That's a pretty big farm. If I work my whole life and save a million quid over the threshold into my pension and died, I can home my child would inherit only 31%. Sorry but moaning about only getting 80% of a massive amount of wealth seems so mad given how much tax everyone else in the country has to pay.
One thing I do know is all these Labour supporters criticising the farmers and saying that they should pay the inheritance tax would be lambasting the Tory party if they had done the very same thing
@VincentVance-j4w Thats fair enough because its your opinion although it is not mine. I think they would oppose it purely because it was by the Tories in the same manner they criticise everything else they have done. BTW It isnt any different the other way round
My landlords are farmers, they bought the land in the 70's for 10K, We let off them a house for 900, and rent is going up to 1100, they have 2000 acres, rules on letting we can't have own furniture and not allowed children or pets, curtains have to be open by 8am to let light in to prevent damp, their land is valued at 6million, they make 800k a year, they even claim all the pensions and supports. they have around 12 properties which they rent out, making 20k a month, all registered farm property, and they complain about paying 20% inheritance tax and don't pay VAT.
My landlord is a farmer who rents out three cottages. He's the best landlord I have ever had, treats us really well and would never ask us to abide by any of the rules you cited. But they were rules that you obviously agreed to when you signed your lease. Every landlord is different, and every farmer's situation is different. One thing is certain however, and that is the smallest farms will be the hardest hit by this tax. One million might sound like a lot, but when you take into consideration that it includes the equipment needed to farm as well as the land, barns and other outbuildings, and the land, it actually isn't very much at all, and like Rebecca said, farmers don't get health benefits, etc, many small farmers work (extremely hard) for the minimum wage, or less. Our landlord's farm is a small one that would go completely out of business if he were to pass it to his children under the proposed taxes. Just because you're jealous of your landlords, maybe you should have thought of all of that when you signed your lease, instead of whining about it now.
Your landlord is in a VERY small minority. The average lowland livestock farmer makes £10K a year in profit (look it up). That profit is what they pay themselves with, after working without holiday pay (or taking holidays) sick pay or pension contributions.
If the vast majority of farmers will be "unaffected", then what is the point of the tax if it is only going to raise a small amount of money? It certainly will not fill the 22 billion hole Starmer is talking about. Which indicates someone is lying.
I like Clarkson as an entertainer and as a car journalist but he's the wrong person to front this campaign since he admitted in the Sunday Times that he only bought a farm to avoid taxes. It's people like him who are the reason for this tax.
That was the opinion everybody had back then, if it wasn't for the show He put on Amazon..., the average public people may not be supporting the farmers as much as they are
Why should anyone pay any inheritance tax at all? Very likely that anything anyone owns will have been bought with money that has already been taxed, probably more than once. 'Sorry for your loss. It's a tragic time for you. Now give us a load of money, we got ILLEGAL immigrant hotels and spending money to pay for'.
So Rebeccas farm is worth 10M£. And by the time her accountant has worked out all the wriggle room and got her liability down to 1M and 20% of that wont it be a simple loan paid back over 10 years like the mortgage the rest of us have albeit on a much smaller sum. All farmers need to do is go to their accountants and collect together the facts. I am rather surprised Rebecca has obviously not. Clarkson is wrong
Clarkson is more than happy to claim subsidies for his farm hand over fist. And I'd argue the brexit these farmers all voted for did more damage than inheritance tax ever could...but I'm guessing personal responsibility is a thing of the past?
All those poor farmers riding around London in their fancy 100 grand tractors using tax avoiding red diesel and no road tax. The irony. Nigel Farrage and Brexit did more to harm farmer’s than anyone.
@@GlenB-qo7wdWhat about they guy living in council flat on baked beans. Being discriminated against better paying jobs due socio economic status. Taxing wealthy is essential.
The trouble is, the very rich farmers have managed to convince these new tax changes will affect all farmers when it won't. It will only affect the rich wealthy landowners who dodge paying their fair share of taxes.
in 1980 we had Inheritance tax of farms. We had more family owned farms then than we do now. By making farms inheritance tax exempt, we have got a situation where wealthy individuals are using farms to hoard their wealth and rent the land to farmers.
Jeremy Clarkson a high profile farmer? Now you are joking - but he told The Times newspaper a couple of years past that he only bought his farm to avoid inheritance tax being applied on his wealth when he passes. Did not work Jeremy...
Clarkson? A farmer? Don't make me laugh. Clarkson's a rich dude who bought a farm as a tax dodge. Rich people buying farmland to avoid taxes is your problem. And whoa, now you have to pay like everyone else? Shocking.
Farming is hard enough as it is without pen pushers making it even harder. I'm with the farmers 100%
well not everyone can inherit a more than a million, tell us about how hard that is.
@@MusikCassettelol Millionaires complaining about taxes and poor people supporting them while they have to pay taxes. Lol
@@KNByam You don't
@@MusikCassette as this lady says, ratio between farm worth and income is massive, they cannot fork out 20% to keep it in the family
@@antirus5481 as long as the value of their assets is not overestimated they can.
And yes you need save guards in place to prevent overestimation. The simplest one would be, that you are allowed to pay your tax in assets.
Rebecca you came across really well. Clearly upset, frustrated and annoyed you put your point over brilliantly! Richard and Suzanna thank you for giving this time to be discussed properly. Stop the farm tax.
100% support our farmers. Time to stand up to the thieves of westminster and the grifters in the state sector.
your government is the real thief 😂😂
your government is the real thief 😂😂
@chigeryelam4061 You're so ill-informed.
@VincentVance-j4w Yes. The only reason I need to support farmers is that socialists hate them. Whinge all you want about all that supposed wealth you want to steal, I won't let you.
Inheritance shouldnt be taxed at all. The government has far too sticky hands
Buy more land and avoid paying tax.
Yes as shown by the recent action by the Minister for the DWP that has used Government credit cards for personal shopping to the tune of thousands of pounds
Yes it should.
One million pounds seems like such a low number for a family farm. This is a ridiculous law and should be repealed as soon as possible or altered so the minimum amount is much much higher than one million pounds.
@@jujutrini8412 All taxation is theft.
This guy has no clue.... and refuses to listen. That 'wealth' is never realised in cash terms. Its passed on so it can remain in service to country and its food production. If it gets sold, land values are so out of whack with how much the land can produce financially making it highly unlikely that a plot will be bought for food production again.
The term “wealth” in financial terms has nothing to do with hard cash. You’re a bit off on your point.
So you do admit that if they sell, they stand to gain a lot due to the ‘out of whack’ land prices?
Farmers are reaping what they sow.
You haven't got a clue, the Farm is now worth £10 million, they probably acquired it 100 years ago for a couple of hundred thousand pounds. So they've created £9.8 million of wealth and haven't pay a h'penny tax on that wealth creation. The trouble with rich people is they always argue "We're cash poor" so we shouldn't be taxed. If Rebeeca is as she claims earning less than the minimum wage then she probably doesn't pay any tax at all ... but was schooled for free, uses roads, NHS, emergency services and so on. The trouble with the rich is they think they can get richer and pay nothing back into society ... IT'S CALLED GREED !!!
@@william_marshal Thats not wealth. Thats just inflation.
When a farmer is worth 3 million, its not that they've got 3 million stashed away in the Cayman Islands. Every pound in that 3 million is in the farmland, in the buildings, in the machinery, all of which is used to produce the food. Furthermore, it is the farmers themselves that do the manual labour, barely breaking even most often. This government is living in its own reality, farmers are not some kind of privileged bourgeoisie class. Unlike their donors.
I bet you London to a brick not all politicians are paying their share of taxes .
Who told you to say that? Facebake? The telegraph? Do you actually believe it or are you just a mouth piece?
the people who own the farms employ farm hands, who they treat appallingly. I have personal experience of Shropshire farmers and they'er an insular and generally miserable lot.
@@desmondgrant2708 True, then again, they wouldn't be the only employers to treat their workers like that.
Asset rich and cash poor. Selling their produce for peanuts and they expect farmers to make a profit.
That young farmer really did a good job on live tv and made the labour mp look bad. Well done 👏🏻
No she didn't. Like most rich people she tried to argue that she has a farm worth £10 million and didn't see why she should pay IHT on it. This is the greed of the rich in our society. They earn 90% of the income but pay less than 50% of the tax, so the poor man in the street has to pay ever more. The result 60% of the population of the UK has no savings. Constantly funnelling wealth to the top has to stop and be reversed !!!
54% of farm land bought last year was bought as an investment / tax dodge , not passed on to family members ,,, just saying
@@william_marshal why are you entitled to someone else's property, business or money? The top 10% of income taxpayers with the largest incomes contribute over 60% of income tax receipts, the lower paid do not pay more
@@seanvance1933 We pay for their products. Their business would not function without us. The relationship is symbiotic and wealth of a nation must be shared, within reason. Are you implying nobody should pay any tax?
@@ewanmcgregor5942 You have a choice as to whether or not to buy their products. Farms are unique in that they are asset rich but income poor, but vital to the nations food security. Why are you entitled to a share of something you have made no contribution to? Buying a pint of milk is not a contribution.
I am totally against inheritance tax of any kind
Well done, Rebecca, you did a really good job despite that patronising man constantly interrupting you and acting as though you know nothing at all about your family business and your livelihood. The farmers have my full support, they are being treated terribly, and they deserve so much better.
Farmers can't lie in bed on Sundays , like city slickers ; many farms were sold off after WW1 , as no one to work the land .
My family estate with several farms was sold off to a man who made his money out of producing army uniforms .
There's not many poor farmers. It's all about keeping it in the family.
@@barados2006 seems like you never actually watched Clarkson's farm.. he made a loss in most of his fields one of the years. the little they make they want to keep in the family yes..
The people of the UK must stand behind their farmers. Get out there. Back them up.
@@Treess14 an did U say this about NHS workers??
Naaa. We all pay IHT. They are not special..
Do you think they support you lol
And when do they support us? We already have to pay extra tax to provide them with subsidies and grants!
Why should farmers not pay inheritance tax?
Useless bloated MP trying to tell a farmer her own business.
Yes, this ex-Labour minister is a bloviating bloated MP! Who is BS arrogant merchant who labels the struggling farmers with the patronizing hysterical! He is spewing typical Labour talking point tropes! Basically, he talks absolute CANT! (note the different spelling on that word! It doesn't have a "U" in it!) LOL
And millions of people agreeing with him on farmers having to pay their fair share of inheritance tax
@@HuibandBeverly What exactly is the fair share of completely locked non-liquid assets like land, buildings and equipment?
@@fodsaks20% and a whole load of exemptions which is exactkt half of what I paid the tax man for inheriting businesses...
You fail to understand what's actually going on. Rich people are buying land and pretending to own farms to avoid the inheritance tax. Most of the farmers don't actually own the land, rather they're leasing it and thus the real owners get to avoid the tax.
Shame on Bill typical Labour. Vote Reform
I side with the farmers and think they should just go on strike, after all it worked for train drivers and junior doctors and they were already on a proper decent wage
Haven't the rich farmers suffered enough?
Clarkson bought his farm to avoid tax, no wonder he’s fuming 😂
Millionaire farmers
perhaps if the nfu dropped a nice donation for labour they may have been more favourable to farmers , it worked for the train drivers
@@blzebub2Ate you talking about the assets that are needed in order for the farmers to work?
Land grab.
Then again, where big business and the TV farmers are making undue profits, might not it be an idea to take their assets into public township?
Shame on this politician
Farmers had no problem voting to leave the EU then complain about how the trade deals made by the Tories are killing the industry.
@@54stevemacThe Tories promised to replace EU subsidies with UK subsidies, which they didn't do.
The UK also paid into the EU which funded the EU subsidies, so they had the money to pay for UK subsidies.
Since they didn't pay for UK subsidies, that then means they pocketed money. But that doesn't fit your narrative, so you ignore it
@@54stevemacnot me , please don’t brand us all
Rebecca you’ve conducted yourself beautifully against this silly politician who deems to know more about farming than actual farmers 😅 I’m pretty sure this inheritance tax was the ‘straw that broke the camels back’ for our farmers and I’m behind you all 100%💜
@@lizzm but when Boris an Nigel say something it's the truth?. An being a farmer duns not mean U no how taxes work!
As she's sat there with 3 grands worth of clothes on her back.
@@phillipearmstrong5510 I’m saying that it’s a circus 🤡 the gov pit us against each other so we don’t pay attention to the politicians getting away with thousands…
@@paulroughly8650 we’ve got to fight the politicians NOT each other…
I am pretty sure it was Brexit that broke the camels back .... But of course a lot of farmers voted for Brexit...
How about you cut all the wasteful spending! This man is completely out of touch.
What waste spending?
waste spending on illegal immigration, diversification officers in the NHS on bloated salaries,loads of waste in NHS i know as friends work in it,13.8 billion in foreign aid !!
Mis managed projects like HS2.. and covid track & trace complete bozo mps wasting tax payers money to the tune of billions i could go on!!
@Jeevessss I'm not from Britain. Just a small homestead farmer near Amqui Quebec. I'd give a long list of examples from Canada that you probably have in common over there cousin, but I want to visit my family roots someday and don't want to get arrested for hate speech 😉 We have a group called the Canadian Taxpayers Federation. They just put up a yt video listing some of the crazy examples on the books. If it's happening here, I'm sure you have it too. I'm just praying I won't have to register my chickens any time soon 🙏
Lovely young lady! Articulate, forthright, polite, well informed. 👌
she made poor, illogical arguments and sounded like a parrot...... if you think that is okay, that's fine.
very poorly informed in fact do the research. Shes got her information off tiktok
@@SBanderaByou cant think, maybe you should try it and you might make sense then
So labour giving over 500million to support foreign farms so get real and leave the British farmers alone
Fully support our brilliant farmers.
Millionaire farmers
@@Papito_gman5.0 Tax dodging farmers.
WHERE'S ALL THOSE PALASTINE FLAGS NOW ! TELL THESE THE LANDS NOT THEIRS ! Well done farmers RIGHT BEHIND YOU 🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧
@@Papito_gman5.0farmers are asset rich not cash rich. They rarely make any money and even if they do it’s spent right back into the farm.
This is a policy of envy
If they can't afford it get out of farming
Rebecca is a star, what an impressive interview.
Wish peole understood basic economics before posting. Assets are not equivalent to liquid cash. Having a £3 million farm does not mean your income is £3 million.
I'd love to inherit a £3million farm. Where can I sign up?
People understand that it is assets and not cash! People know very well that IHT is based on property.
@@blzebub2 You wouldn't get £3m to spend. According to the Farmer's Guardian income from livestoch farms dropped to £17,300 in the last year. That's less than the minimum wage and you'd have to work your nuts off to get it.
@@blzebub2Would you also love to work that farm 60 hours a week?
@@richardcahill1234 No, I'd sell it and get a real job.
I support the farmers and not communist Starmer.
So when is Starmer planning to take farms into public ownership?
@@antispindr8613 I'm for that, but I don't think Iain understands what he's typing.
Starmer is not a communist.
@@54stevemac In what way is he not a communist.He is just doing what Stalin did to the farmers in Russia.
@@54stevemache is
They ignore the fact that those Children have worked those farms for their entire lives. It’s not inheritance at all.
how is it not inheritance??
@ it’s the fruit of her own labor the children literally start working when they are 5 years old doing chores. It’s a life long commitment. 24/7 365. It’s not taxing profits it taxing blood sweat and tears. It’s like saying your mom is dead give me 20% of everything you own.
@ I am opposed to inheritance tax in general. Everything has already been taxed once so why is it taxable again? It’s the only way poor people can escape poverty in many cases.
How's it different from shops passing on to their kids
@@magoop17few shops at 1M ,can be used for other trades ,land stop on production and use change ,solar farm or development not farming even if they could rent it again .
He has forgotten about the fact that most farmers have a tractor a combined harvester, a trailer etc...... i support the farmers 100% and this country needs to stand behind them inheritance tax should be abolished it is a tax on death when people have followed the rules and already paid there taxes ......Labour Shame on you we will never forget this
They own those farm equipment in a co-operative ie not as individuals so it does not class as a taxable part of their estate!
So are you willing to pay higher income, council, value added tax to make up for abolishing inheritance tax? Or do you have a money tree that will.
@@jujutrini8412really? Where do you farm? Where does you expertise in what equipment farmers own vs share in a cooperative come from?
@@Newman79-zg6yware you willing to have food shortages as family farms go out of business and the intergenerational knowledge of food production is lost? Are you willing to have your food prices go up?
@sookibeulah9331
Look up the government website titled 'Agricultural Relief for Inheritance Tax' created by HM Revenue & Customs in 2013 (I.e. the old rules.)
This says 'Some agricultural property does not qualify for Agricultural Relief, including:
farm equipment and machinery.'
So no you don't need to be an expert, all you need to do is just some basic research on the subject.
A farmer just owned a politician. That's all you need to know about the government
No she didn't. She's a multimillionaire complaining about paying inheritance tax.
No she’s not. Champagne socialists like you are too narrow minded to even try to understand where the farmers are coming from
they voted for this when the majority of farmers voted for brexit
@@Brickwell99 Brexit has nothing to do with this nor did anyone vote for this because Labour said they wouldn't increase taxes in their manifesto. There is no incentive for anyone to do well in this country - its full of champagne socialists like yourself @brickwell99
She got very tetchy when the figures were presented to her !
If the inheritance tax on farms is so insignificant as the government claims then why bother doing it.
because it is a tax hole. And rich people using it as such is actually bad for farming as a hole.
@@MusikCassette Inheritance tax shouldn't be a thing for anyone. Once you've paid your tax that should be it.
Because it is a tax loop hole.
But it is a thing so why should these rich farmers kids be any different than anybody else@@Carwyn.Morris
@@leonardhpls6 Fine then only tax it to land owners not working farms.
Well said young lady ,the public are behind and totally support you with this shameful decision that should be reversed immediately along with the winter fuel allowance.
I'm not behind her. She has a Farm worth £10 million and hasn't paid a penny tax on it and doesn't want to either. We've had enough of the greedy rich !!!
@@william_marshal why do you support farmers every day? And that’s not a trick question. 😊
@@william_marshal I say we deport all the greedy rich. The ones that pray five times a day facing Mecca, not the ones who earn less than minimum wage and aren't rich at all!
I would rather believe Rebecca than a politician any day!
Rebecca has a farm worth £10 million, wealth built up over 100 years and has never paid a penny tax on that increase in wealth. Everybody is liable to pay IHT so why not farmers?
Politicians are so out of touch that one looks like he would benefit from a days work on a farm
we are talking about tax exemptions for people who inherit more than a million.
I wonder who is out of touch here.
@@MusikCassetteASSETS and CASH can you tell the difference and do you like eating food?
To me it seems that the brittish public is pretty out of touch of reality too.
@@Justin-yt8zv and you need some systems in place to deal with that. but that is not what we talk about here.
And I doubt the politicians would like to be taxed on their inheritance as well. Hopefully the protest works 🤞
Try cutting waste at the heart of Government. In fact most of government is a waste.
The arrogance of that politician so sure that the public will turn against the farmers. We'll see.....remember most of us already take a dim view of this government. This is not Labour in 2001.
“The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.” - Orwell, 1984
Rebecca held herself very well in that discussion and completely exposed the sheer ignorance of the Labour MP. Clearly the clowns in Westminster don't care about our farmers, shame on them.
Well done for backing us farmers in a calm manner 👍👍👍
Starmer is a complete disgrace!!!!!
@@simongreen2510 Why?
@@leonardeast4971because he’s literally biting the hand that feeds the nation. Champagne socialists don’t under stand why farming and land owning go hand in hand. Livestock needs a vast amount of land for quality of product. Unless you want battery farms for cows and sheep, which to be fair if you’re a communist it’ll be a bit like the gulag for animals. The money the farmers make goes straight back into running the farm. Vet bills, fuel, seed, fertiliser, vehicles, staff wages and so on. Yes assets are worth a lot, but the farmer takes minimum wage to live. Taxing the landowner/farmer will close a lot of farms. That means we’ll be relying on substandard imports from other countries. I mean you might like chlorine based chicken and horse meat, but I’m sure the majority don’t. The agricultural budget is 2.4 billion, foreign aid is 13 billion. If the government were serious about pumping money into the public sector, then I’m sure they could have done it without even looking at farmers. This isn’t about fairness, it’s about control and if you’re middle or upper class Labour will stick their hands in your pocket without thinking about the consequences.
Well done Rebecca
People will not put up with higher and higher tax for poorer and poorer public services. Labour haven’t a clue
The lack of respect for farmers in the comment section is unbelievable. Farming is a tough life, it’s constant work, it’s not something many would leave city urban cozy living for, not for long. We need food security and to not overly be at the mercy of other nations for our food. A tiny percentage of our population but they produce a majority of our food we would otherwise have to farm for ourselves…respect them and protect them.
the lack of respect Farmers have had on scewing the profit out of their land is indefensible.Also they voted for Brexit.
Do they get loads of government subsidies? Basically socialism for farmers
@@matthewmolina2706 my original comment was regarding the comment section of this video, not if our government does anything for farmers. Not aware of your view on it but they get subsidies, it helps protect farming, it’s fundamental to a nation to be able to have a level of food security
no different to the building trade we work all hours in all weathers to build the houses you all live in,if a builder works all his life and builds a home and leaves it to a child of theirs then they have to pay the full IT on it so why shouldnt farmers
Socialists are so obsessed with starving the great unwashed they don''t care if they also starve.
Bill has no idea Government has no clue especially about farming
Then king Charles should pay inheritance tax also
He’s already the country’s highest tax payer.
He will pay IHT on anything he owns personally.
@@sookibeulah9331 No he doesnt, hes never worked a day in his life. He's paid for by the poorest tax payer.
@@silverfox2358and the land he has was stolen. He should pay tax as you said
@@silverfox2358 He works very hard. Now your brain can't be in working condition if you don't know how much our King has done and worked for the people of this country. Sheer ignorance!
The intention is to push farmers off the land
Exactly. So the Labour party then own the land and do what they want with it (ie Raynor's dream of building migrant towns)
@@philipnapier3585. And importing from distant countries
That advisor is so misinformed, they are smashing the countryside and will just feather the nest of big corporate business who will buy the land and they’ll never pay inheritance tax on that land again..
If you want to stop the loop hole then make the relief based on it being a working farm…. Surely that’s the goal not to discourage people investing in working the land.
Hmm 2001 Labour got rid of the coronary care unit at Llandudno General hospital then spent £60M on the London dome. This Labour MP really is full of it
Wow, Rebecca. What an AMAZING woman. Jesus, she absolutely destroyed this career politician!
@VincentVance-j4wbuy a farm then and avoid tax yourself if it's that easy.
This excuse for a politician is a bully
And a few other words spring to mind...
The rationale behind the changes is clear: for decades, farmland has served as a tax shelter for the wealthy. Introduced in 1992, the inheritance tax exemption for farmland allowed multi-millionaires, and in some cases billionaires, to avoid significant tax liabilities. Economist Tim Leunig pointed out that farmland became "the best way to leave £100 million to your kids," exacerbating wealth inequality and inflating land prices in the process.
These inflated prices have made it difficult for new farmers to enter the industry, for tenant farmers to purchase the land they work, and for communities to buy land when it comes up for sale. In this sense, the uncapped relief has been detrimental to farming. Labour’s introduction of a cap aims to close this loophole and prevent land from being a convenient tax dodge for the ultra-rich.
Will " Country Estates " owned by the Lords, be paying this tax when they hand their " Land " over to their sons ????
They’re the main complainers and they have persuaded the poorer ones, who won’t be paying, to make a big fuss!
Spot on
You tube bot talking total nonsense again
yes thats what the tax is ultimately aimed at
For sure they will. The House of Lords is our Constitutional backstop against what socialist Labour want to do! They're the primary targets!
This government needs removing
Trouble is the others are no better.
Farmers have enough trouble without this tax. When a farm has been in the family for generations, they should be able to pass it on to their children without causing them to sell off.
Does that apply to council houses ? no of course not , just the rich , the ones at the top are the only ones who will be affected, they are using the plebs to support them as the idiots supported Farage with his brexit along with the farmers . who would want Clarkson speaking on their behalf . calling the BBC, who he has paid millions over the years for talking nonsense
Totally agree, the biggest land owners / farmers are all dukes whos ancestors fairly stole all of their land 100's of years ago. So they deserve all of that land that their ancestors fairly stole we should not be taxing these most wealthy members of society, tax the poor, tax the poor.
No they shouldn't , the trouble they find themselves in was self imposed with their voting for Brexit ,why people on minimum wage would b esiding with the likes of Clarkson is beyond belief an out and out thatcherite
Save money by not putting up illegal immigrants in hotels ! You'd save far more than you say you'll gain from farmers inheritance tax.
You say they're passing on great wealth..No They Are Not !! The farm is only worth that if it is sold to energy companies or house builders. Its purely a work tool for farmers to produce our Food. Cant believe the lack of understanding from MPs
14 years of Tory mismanagement of the immigration situation is no fault of this government.And those tories have agreed trade deals that are killing the industry and making exports to the EU too expensive.
The politicians do understand, they're Communists and think all property is theft. Except their own of course. Give Animal Farm a read. Politics of envy.
Get your facts right you pay back over 10 years Interest Free...
It applies for value over £2.65m. That seems perfectly reasonable to me. Other businesses are also not free from that.
I looked up the estimates and it would only be 20% above £2.65 million, and the tax only starts above £2.65 million. So it only affects you really at 4 million+.
I am also a fan of making the tax code as simple as possible. It should just be for all above £2.65 million. I would err on the higher side because small and medium farms do struggle the real big ones far less.
100% behind the farmers on this one. If government put as much focus on farming as they do on people that aren’t meant to be here we’d be ok. Their focus is all wrong!
Support every farmer 🌾🥓🍗🥩🦞🙏🚜🙏🚜🙏
Real farmers, not TV stars playing farmer?
54% of farm land bought last year was bought as an investment / tax dodge , not passed on to family members ,,, just saying
Properties worth 1 million pounds 😂oh I feel so sorry for them. So self entitled, what about the homeless? Absolute joke. Cough up
Let's bump up the "value" of your worked land to get you above that inheritance threshold.
Hey great plan, now every 2up-2down is worth a million quid! The money will just roll in!... what do you mean everyone is homeless?!
how cheeky, so train drivers, nurses, doctors, teachers can go on strike but farmers will not public support?
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 (“APR”) or business property relief (“BPR”) 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 - 16%; 4 to 5 years - 12%; 5 to 6 years - 8%; 6 to 7 years - 4%)
1) what about farmers that aren’t married or are widowed ? Given 40% of marriages fail in the UK are farmers somehow exempt from marital difficulties, despite being an occupation with very high rates of depression and suicide?
2) if this tax will decrease the value of land why are so many farmers so opposed to this? Do you think farmers don’t understand how land values work, or aren’t keen to see a drop in prices so they can buy more land at “uninflated rates and do what they enjoy”? High land values causes significant issues with succession when one adult child wants to continue farming and others don’t. Lower land prices will make succession planning easier, but farmers know this isn’t the way to lower land prices.
3) how is someone going to pay even £100,000 of IHT over 10 years if their profit and salary are under £20k. Are you suggesting that people who work without holiday pay, without sick pay, and without pension contributions should live off less than £10K a year so they can pay IHT over those 10 years? What happens if there’s bad weather that wipes out all their profit so they can’t make their £10K payment to IHT, are they given an extra year to pay it all off?
4) According to the government agri-equipment will attract IHT “From 2026, the first £1m of combined business and agricultural assets will continue to attract no inheritance tax at all…. but for [combined] assets over £1m, inheritance tax will apply with 50% relief, at an effective rate of 20%” So how do you think BPR and APR will be 100% exempt?
5) the 500 or so wealthy estates will already have tax advisors working on how to not pay IHT on their land through trusts etc. The average family farm can’t afford those advisors nor can they afford to jump through the hoops to make the advice work. So this won’t hit the wealthiest. It will hit the working family farms.
6) the average age of UK farmers is 59. 38% of farmers are over 65, and still needing to work into their late 60s and 70s. Those farmers don’t have “time to plan” especially as succession is always complicated. Wouldn’t those farmers already have retired if it was so easy for them to do so?
7) 7 years to gift the land. Where is the farmer supposed to live once they’ve gifted their only asset? If they live in any property that’s part of the farm (an annex or granny flat) then it’s not counted as gifted. Very few family farms have planned pensions for the farmers. It’s why so many farmers work way past retirement age. How are farmers supposed to pay rent on an off-farm home if they only the basic state pension? (as low income earners they’ll have paid minimum NI so will only get the very basic) Should councils and housing association provide low cost homes for farmers that have gifted their land to the next generation? If not where do they live for 7 + years before their deaths?
So much noncence its hilarious... Its the equivalent of if I have a Directors job I can pass then pass that job on to my kids...
Why should a going concern be it a farm or any other business be subject to inheritance tax? All it does is stymie investment in the business and therefore stop the very thing that self proclaimed economist Ms Reeves says is her main aim.
@@spacetime3 I’ve countered every one of your “facts” and the best you can come up with is comparing farming and the production of food to directors passing on their jobs 🙄
Directors generally make a good income, farmers generally don’t. It wouldn’t matter if most directors give up and close their companies. If farmers give up and stop farming we starve and essential intergenerational knowledge on how to produce food is lost.
@@sookibeulah9331
Well said
Politicians are a curse on us all.
Clarkson said himself he invested in farming to avoid inheritance tax. The guys a W⚓️
Increase inheritance tax for the wealthy.
Jeremy Clarkson invested £4.5 million on the farm he bought to avoid paying tax on it…..everyone should pay inheritance tax..even the Duke of Westminster who never paid a penny on inheritance tax when he inherited all those properties in London….definitely one law for them another for everyone else!!..
Clarkson is not a farmer, he himself declared to the FInancial Times back in 2021 that he bought farmland to avoid paying inheritance tax. Clarkson stop lying and pay tax like the rest of us
Jeremy Clarkson said when he bought his farm, "I am buying this farm to avoid tax".Maybe he should not have been so candid !!!
I dont remember Clarkson protesting for farmers to get paid properly by the supermarkets, which is the real problem for farmers 🤔
Farmers need to go away and work out inheritance tax for themselves land prices will drop now its tax and stop listening to rich people trying to avoid paying tax and are not genuine farmers
Clarkson literally said he was buying farmland to avoid Inheritance Tax. This Labour scheme is to cover people like him, not most regular farmers.
That's why he is most vocal about this 'issue'.
did you see the farmers kick off about the pensioners loseing there heating allowance NO do most pensioners have millions of pounds to tax NO are they kincking off over pensioners having to pay tax on the pitance they get as a state penstion NO
Well done Rebecca. I totally support the farmers. You had him crawling 😂
It is not inheritance tax that is reducing farmers profits, manufactures and traders in food for supermarkets, who due to price competition want to sell as low as possible will force prices down for farmers. Farmers should be angry that the government have not protected them against monopsonist power of either the food manufacturers or supermarkets.
Farmers make little or no return on their land which is crazy if you consider what it’s worth. Farmland has gone up recently due to some people buying a great deal of farmland to make use of the inheritance tax loophole that guaranteed that an estate could be passed on free of tax. Farmland has been used as a financial instrument and has not been used as an input into the farm production process. This makes it now, not an input into the liberal capital system but an input into the financial capital system, we don’t really have a liberal capital system anymore, the City of London has turned capitalism into a financial product system, farmland is just a product we use for financial engineering. So the farmers should want an inheritance tax charge on this land because if there was an inheritance tax charge on this land it would no longer have value or financial purposes, it would only have a value for farming purposes and for faming purposes it has no value at all, which means that they can pass on their estates to their children however they like with no tax charge arising, it solves their problem to have an inheritance tax charge.
Farmers are protesting about the wrong thing, when saying inheritance tax is penalising them, it is not, it is actually helping them. Also if we have serious inheritance tax charges, the price of farmland will fall so much that new people will be able to enter into farming, because farmland will be affordable for people who want to become farmers. There is nothing that says farming is a purely inherited business, why should it be, like any other business people can acquire the skills to farm and not just through their genes. So it would be possible that if farmland fell in price because it wasn’t used as a financial product, new farmers would come into the business and that would be good for farming, good for our society and good for sustainability. Farmers should think this over, objecting this inheritance tax increase is therefore making life for farmers harder.
Farmers need to change their economic arguments. They want the value of land to fall if they are going to able to pass on their farm to the next generation without inheritance tax charge, which you can always do if something has no worth and they want the value of farms to fall to encourage new entrants into the market, which the industry desperately needs, because the age of farmers is growing steadily.
Farmers should demand action against the rigged market that prevents them from getting a proper price for their product, which is critical, a government that does not want to do that, is a government that is going to fail the people of this country, because we do need farmers for food security.
Everyone should be protesting inheritance tax, it's grave-robbing.
@@richardcahill1234 scrapping inheritance tax would only benefit the richest 1% of the UK and those in London and the South East there would be no direct effect on the more than 90% of people who do not pay any inheritance tax.
@paulmonkcom So an immoral act is allowed as long as it only affects 1% of people? What percentage does it have to affect before it is not allowed?
Whilst I agree with much of what you say, the land wouldn't be bought up by new small farmers, it would be bought up by businesses and used for solar and wind farms. It's all the Labour government is interested in and it's madness.
Why should this rich kids inheriting millions be any different to anybody else. Tax them simple as,
Clarkson and Dyson's years of tax dodging are coming to an end and they don't like it. Tough.
Tell us you've got no clue without telling us 🤦♂️🤣
@@Shaunyy Numbskull. Tell me before I tell you after them tomorrow, Two of us can talk gibberish if you want.
I’m pretty sure old man Dyson owns a touch more than £3m. Dude about owns all farm land in Lincolnshire it feels like.
Labour have no idea
and the tories for the last 14 years have?
Don't think the Tories were mentions😮
@@54stevemacuniparty
God bless the farmer
@VincentVance-j4wwhat's that supposed to mean.
Why not add on a sales tax if the farm is sold instead of destroying those who just want to keep farming?
Starmer down, support our farmers!
Millionaire farmers
Don’t let clarkson suffer! Won’t someone please think of the millionaires
...while leaving the elderly in the cold!
Farmers voted for Brexit,now they are stuffed because the trade deals done by their mates the tories are killing the industry.
@@Papito_gman5.0😂😂😂
A 1 million pound tax bill - that means this family is sitting on a farm worth 8 million quid. That's a pretty big farm. If I work my whole life and save a million quid over the threshold into my pension and died, I can home my child would inherit only 31%. Sorry but moaning about only getting 80% of a massive amount of wealth seems so mad given how much tax everyone else in the country has to pay.
Politicians are overpaid so there should not only be a reduction in their salaries but they should pay extra tax - lead by example
One thing I do know is all these Labour supporters criticising the farmers and saying that they should pay the inheritance tax would be lambasting the Tory party if they had done the very same thing
@VincentVance-j4w Thats fair enough because its your opinion although it is not mine. I think they would oppose it purely because it was by the Tories in the same manner they criticise everything else they have done.
BTW It isnt any different the other way round
My landlords are farmers, they bought the land in the 70's for 10K, We let off them a house for 900, and rent is going up to 1100, they have 2000 acres, rules on letting we can't have own furniture and not allowed children or pets, curtains have to be open by 8am to let light in to prevent damp, their land is valued at 6million, they make 800k a year, they even claim all the pensions and supports. they have around 12 properties which they rent out, making 20k a month, all registered farm property, and they complain about paying 20% inheritance tax and don't pay VAT.
My landlord is a farmer who rents out three cottages. He's the best landlord I have ever had, treats us really well and would never ask us to abide by any of the rules you cited. But they were rules that you obviously agreed to when you signed your lease. Every landlord is different, and every farmer's situation is different. One thing is certain however, and that is the smallest farms will be the hardest hit by this tax. One million might sound like a lot, but when you take into consideration that it includes the equipment needed to farm as well as the land, barns and other outbuildings, and the land, it actually isn't very much at all, and like Rebecca said, farmers don't get health benefits, etc, many small farmers work (extremely hard) for the minimum wage, or less. Our landlord's farm is a small one that would go completely out of business if he were to pass it to his children under the proposed taxes. Just because you're jealous of your landlords, maybe you should have thought of all of that when you signed your lease, instead of whining about it now.
That's not the average farmer
Your landlord is in a VERY small minority. The average lowland livestock farmer makes £10K a year in profit (look it up). That profit is what they pay themselves with, after working without holiday pay (or taking holidays) sick pay or pension contributions.
Move out then. Find somewhere better.
@@thewelshdoctorexactly.
Support our farmers!
How do you sit down & talk when PM runs out the back door.
There are people in society that should never be messed with. Farmers are one, pensioners are another. This government needs to go.
But what about big business people and TV 'stars' playing farmer?
Labour all about big business and WEF, They hate the working class.
If the vast majority of farmers will be "unaffected", then what is the point of the tax if it is only going to raise a small amount of money? It certainly will not fill the 22 billion hole Starmer is talking about. Which indicates someone is lying.
Labour is delusional, let them work on a farm for a month……they wouldn’t last. I stand with our amazing farmers 🧡
I like Clarkson as an entertainer and as a car journalist but he's the wrong person to front this campaign since he admitted in the Sunday Times that he only bought a farm to avoid taxes. It's people like him who are the reason for this tax.
Maybe this is Clarkson's fault.If he said,"I want to shoot and get no inheritence tax".😮back in 2022.....
That was the opinion everybody had back then, if it wasn't for the show He put on Amazon..., the average public people may not be supporting the farmers as much as they are
Clarkson has damaged farming more than BSE. Farmland prices will fall as land prices will fall as it won't be used as a tax dodge.
How about reducing these politicians salaries???
Stop scaremongering Clarkson, I have to pay 40% tax on £325,0000
Why should anyone pay any inheritance tax at all? Very likely that anything anyone owns will have been bought with money that has already been taxed, probably more than once. 'Sorry for your loss. It's a tragic time for you. Now give us a load of money, we got ILLEGAL immigrant hotels and spending money to pay for'.
What a great spokesperson for British farming. Well done Rebecca. ❤
Dint believes a trickster Labour adviser.
So Rebeccas farm is worth 10M£. And by the time her accountant has worked out all the wriggle room and got her liability down to 1M and 20% of that wont it be a simple loan paid back over 10 years like the mortgage the rest of us have albeit on a much smaller sum. All farmers need to do is go to their accountants and collect together the facts. I am rather surprised Rebecca has obviously not. Clarkson is wrong
Clarkson is more than happy to claim subsidies for his farm hand over fist.
And I'd argue the brexit these farmers all voted for did more damage than inheritance tax ever could...but I'm guessing personal responsibility is a thing of the past?
EU farmers?
@@rosarose3443Mind you own business! Your out!
They also said that the elderly wouldn't be affected by the Heating stuff
Farmers overwhelmingly voted to take back UK Sovereignty. Well this is what Sovereignty looks like.
All those poor farmers riding around London in their fancy 100 grand tractors using tax avoiding red diesel and no road tax. The irony. Nigel Farrage and Brexit did more to harm farmer’s than anyone.
So everyone else has to pay inheritance tax except farmers!
No one should pay it! That is what you seem to be missing
@@nw7654 54% of farm land bought last year was bought as an investment / tax dodge , not passed on to family members ,,, just saying
But what about farmers like Rebecca who's family farmed that land for generations.
An now may have ta sell up
@@GlenB-qo7wdWhat about they guy living in council flat on baked beans. Being discriminated against better paying jobs due socio economic status. Taxing wealthy is essential.
Not everyone has to pay inheritance tax. In fact most people don't.
I was almost convinced until we found out her inheritance is worth around £10,000,000 😂
The trouble is, the very rich farmers have managed to convince these new tax changes will affect all farmers when it won't. It will only affect the rich wealthy landowners who dodge paying their fair share of taxes.
So all the farmers saying it's going to effect them are lying are they
@@matthewgubbins8515 Many of them are deluded. Some are lying.
@@jujutrini8412 what do u know about all these farmers do u know what the size of every farm in the uk
in 1980 we had Inheritance tax of farms. We had more family owned farms then than we do now. By making farms inheritance tax exempt, we have got a situation where wealthy individuals are using farms to hoard their wealth and rent the land to farmers.
Jeremy Clarkson a high profile farmer? Now you are joking - but he told The Times newspaper a couple of years past that he only bought his farm to avoid inheritance tax being applied on his wealth when he passes. Did not work Jeremy...
He's not denying that, so why are you even mentioning it. Are all farms owned by people who bought them to avoid tax? He's backing other farmers.
@@thewelshdoctorHe is. Now he’s saying it’s because he wanted to shoot?
Clarkson? A farmer? Don't make me laugh. Clarkson's a rich dude who bought a farm as a tax dodge. Rich people buying farmland to avoid taxes is your problem. And whoa, now you have to pay like everyone else? Shocking.
STOP SENDING BILLIONS ABROAD - WHAT AN ATTITUDE 😮