‘Tractor tax is ruining our culture, this is just another blow for hard-working farmers’

https://www.manchestereveningnews.co.uk/news/uk-news/tractor-tax-ruining-culture-just-30338971?utm_source=reddit&utm_medium=post&utm_campaign=reddit

Posted by SubstantialSnow7114

12 comments

  1. Didn’t farmers overwhelmingly vote for Brexit? I think this is a made your bed situation.

  2. Cue the stupid comments who think that £1 milllion is a lot of money in farming, and don’t understand that millions in agricultural assets don’t necessarily translate to a decent profit or standard of living.

    They’ll just think, or at least pretend, that Labour are ‘taxing millionaires’.

  3. Im astonished at how these businesses are all so impoverished all of a sudden – 1 extra tax and BANG they’re gone.

    Private Schools… gone
    Supermarkets…gone
    Farming….gone

    If you lot keep lapping this shite up I’ll start asking why Brexit was such a good idea…

  4. Landowners cry about tax? Bless. Get a job at Tesco, sell the range rover and the tractor and the 600 acres, and the 7 bedroom house with planning permission for a campsite. Send the kids to the local state school.

  5. Hang on! This is the same tax they were talking about a few weeks ago… Removing the exemption for farms?

    I’ve only just spotted that the new tax is still very generous compared to actual inheritance tax. 20% on everything over £1m vs 40% on over £350,00. Seems like an utterly reasonable compromise.

    I’d not really paid much attention before and assumed farmers would now be paying the same inheritance tax as everyone else.

  6. Farmers don’t need to be exempt from more taxes, they need to get paid more than a pittance by massive billion pounds profit earning supermarkets.

  7. “tractor tax” lmao- its still a lower inheritance tax than you’ll pay on any other business- why is a business that turns silage into milk getting preferential treatment over a business that turns milk into cheese? Uninterested in any spin about “culture”

    Paying no inheritance tax on a certain asset has caused that asset to bubble in price beyond as reasonable assumption of a return on investment as a viable business. That’s why the profits on farming are so low, no-one would bother as low as they are without the additional benefit of intergenerational tax free capital gains profit. As Becki puts it “They’re working 70-80 hours a week for far less than the minimum wage and they’re doing that because they’re investing in their future”

  8. Only farmers work hard and everyone else lazy and not paying tax. Meanwhile the billions we still have to pay for Brexit is supposed to come from where?

  9. I wonder how many of them voted for Brexit and the massive loss of GDP and tax revenue that resulted

  10. Couldn’t they put the farm business into a trust?
    I thought that’s what rich people did with businesses they wanted to continue giving the family an income after they die.

  11. Don’t bite the hand that feeds you, that said you don’t see a poor farmer. How is that brand new Land Rover discovery farmer Giles 😉

  12. All the ones that voted for brexit

    Get in the fucking sea

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