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Would that help farmers? It might drop them below the IHT threshold and make it easier for them to buy more land to farm.
Maybe getting the value of the land in line with the income you can gather from it would be a good thing. However, I bet that may farmers also like to see / rely on land assets worth £8m and would rail against anything that decreased the value of that as well.
christianSpaceman
@Dammit
Farming isn’t, and hasn’t been for a very long time, an economically viable occupation without significant subsidies. Brexit allowed the government of the time to make sweeping changes that changed that- and reduced the subsidies on offer from what little I can see.
So you have people with 8M in assets making £40,000 per year (ostensibly), after subsidies have been taken into account.
I don’t see how you fix this - not without dramatic food price inflation anyway.
Could closing the tax loophole and instituting a “good farmer” check on any agricultural land purchase drive down the value of said land? Probably. Would that help farmers? It might drop them below the IHT threshold and make it easier for them to buy more land to farm.
I’d love to see Dyson’s estate have to pay 40% on his massive landholding I have to say.