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Clarkson did say in 2021 that the main reason for him buying a farm was to avoid inheritance task.Quote:
Originally Posted by SithHappens
Can’t help thinking that the difference between proper farmers and mega wealthy landowners looking for a tax break is being overlooked by some.
Happy to see real farmers get a better deal. IF rich land grabbers have been caught out by this budget…then good imo.
AgreedQuote:
Originally Posted by ramAnag
Thinking on this, I went to Grammar School with a couple of lads whose Dads were farmers. I know for a fact that one of them inherited his Dad's farm and still works it. I wonder how this will affect him?
I think this farmer's inheritance tax SHOULD be levied if the offspring sell the farm but, if they continue to work it then the tax should not be levied unless they sell the land at a future date. That should help keep agricultural out put at its current level.
The alternative is that many farmers quit the game and we are forced to import yet more food from abroad. Food not compatible with the rules UK farmers have to adhere to such as pesticide use on crops or growth hormones in livestock.
Not too well thought out, this one.
spot on MA, with you on that.Quote:
Originally Posted by MadAmster
This stinks of a political move to me, not a good economic one.
Yes, something of an opportunist "land grab" and of course in keeping with the promise not to tax the working man in the street that runs through this budget. Well not directly anyway. Basically a stealth tax which farmers may not be able to pass on to consumers as staple food prices tend to be governed by global markets and futures trading.
In keeping with the "make businesses pay" approach to the whole budget which choses the soft option and lets someone else take the blame when businesses pass the tax based cost rises onto the consumer (the working man). Strategic but very transparent to anyone looking beyond skin deep.
Whatever the name of the tax, against whoever it is levied, it is always the consumer who picks up the tab
The current cost of living crisis comes at a time when huge profits are being made. Shareholders are doing well out of their dividends. There's a big cause of inflation right there. Tesco, one of the companies making those huge profits is one of the signatories to the letter to the Chancellor complaining at the rise in employer NIC and in the minimum wage. Tesco, and many other companies are perfectly well able to "suck up" a fair chunk of these extra costs and still make a reasonable profit. Problem is, they won't.
IMO it's well time big business got stamped on to make them realise profits and dividends can't get ever higher. The limit has been well passed. Everything they do to increase revenue/profit/dividend ends up hurting the "man in the street".
Look at Burton. Once the brewing capital of the country. Large brewing firms and many allied companies supplying materials or taking brewery waste to make things like Marmite. Those breweries employed many thousands of well paid staff as did their suppliers etc. Then the multinationals came along and changed things. Pushing lager rather than real ale as it's cheaper to make and gives a higher profit margin. A lot of the brewing capacity has left the town as have the bottling stores etc. Thousands of well paid jobs gone. Replaced by low paid jobs in warehousing and the like. The town and surrounding area has become poorer. All so a handful of rich folk can get ever richer. To hell with an entire area being made poorer. They simply do not care.
That is why I have a major dislike of them. I have it all, I want more and I don't give a damn who gets hurt by it.
... and, yes, the pension funds will have had shares as well but even them possibly being better off does not justify the impoverishing of Burton and the surrounding district.
There's not poverty and hunger in the world because we can't grow/raise sufficient food for everybody, it's there because we can't satisfy the ugly greed of the richest 5%.
Like!!Quote:
Originally Posted by MadAmster
Was only thinking much the same this morning when I heard some managing director (of Lidl this time I think) bemoaning the fact that this budget had set them back just like Brexit and Covid. Bet they’re announcing record profits again shortly after Christmas though.
If only all tax was collected, these cheap grabs wouldn't be necessary or defendable.
I was reading the other day, that the biggest failure in tax collection is VAT
Ironically, that would be mainly small businesses?
But is approx ?40 billion a year. Makes the WFA grab look like chicken feed.
So, the last administration didn?t do that, and the current administration, by the actions they?ve taken so far, don?t intend to either, in fact have even less intention. Where?s your Superman coming from?Quote:
Originally Posted by MadAmster