RE: Farmer IHT Protest18 Nov 2024 10:53
Here's the big point that I see missing from the debate here- timing. the changes only start in 2 years time which allows for farming families to 'pass on' their farms to the next generation , iht free provided they live 7 years from that date. Therefore IMV most will do so , assuming they are real farmers and not just tax dodgers. Consequently the government will raise very little going forwards and practically zero this parliament because estates are given at least 6 months to widn up and then a further year or so to pay , as I recall , meaning Jan 2029 is earliest any cash will arrive with HMRC. So why are the government doing this ? I am certain the treasury models show this outcome.
The only answer I can come up with is ideology - labour hate private wealth and want to dismantle what they see as one of the pillars of this country as they move us to a borderless authoritarian state where they control the means of all production . Sounds a bit extreme but look at the groups they keep attacking, pensioners, all businesses and now farmers.