Inheritance tax, Farming, Protest, Jeremy Clarkson, UK news, Death and dying, Tax, Land ownership, Food security, House prices Business | The Guardian
Readers respond to an editorial about farmers having to pay inheritance tax when selling agricultural property priced at more than £1mWhile largely in agreement with the sentiments expressed in your editorial (The Guardian view on taxing farmers: big landowners must pay their share, 19 November), I believe there are some issues that need to be understood and addressed. I run a small-scale dairy farm in partnership with my son. We own just over 80 acres and rent another 40 acres annually. This allows us to have a herd of up to 80 milking cows but, despite misguided government assurances, leaves us now vulnerable to the new inheritance tax (IHT) proposals and will make our farm non-viable for the next generation.The average price of land in Northern Ireland is around £15,000 an acre and to maintain a dairy herd it is essential to upgrade facilities, machinery and the quality of livestock. This necessitates frequently borrowing money and results in very poor cashflow. Continue reading…
Readers respond to an editorial about farmers having to pay inheritance tax when selling agricultural property priced at more than £1m
While largely in agreement with the sentiments expressed in your editorial (The Guardian view on taxing farmers: big landowners must pay their share, 19 November), I believe there are some issues that need to be understood and addressed. I run a small-scale dairy farm in partnership with my son. We own just over 80 acres and rent another 40 acres annually. This allows us to have a herd of up to 80 milking cows but, despite misguided government assurances, leaves us now vulnerable to the new inheritance tax (IHT) proposals and will make our farm non-viable for the next generation.
The average price of land in Northern Ireland is around £15,000 an acre and to maintain a dairy herd it is essential to upgrade facilities, machinery and the quality of livestock. This necessitates frequently borrowing money and results in very poor cashflow.
