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lynx
marcomarcos
The conversations about farming and IHT on here have been interesting. I saw a post on bluesky tonight by someone claiming to be a farmer so I checked the writers assertions and they seem to stack up..
The average farm size in the UK is circa 88 hectares, but nearly half of all farms are smaller than 20 hectares.
The average cost of farmland in the UK per acre seems to be circa £11,000.
So an 88H farm (217 acres) would be worth £2,387,000.00, therefore under the £3m family cut off.
If a farm costs £3.5M the family gets taxed on £500K and small farms who hit this threshold get 10 years to pay it off at no interest.
But remember half of farmers in this country only own 20 Hectares or less.