Thousands of Farmers protest against inheritance tax changes

By Free Republic | Created at 2024-11-19 18:22:23 | Updated at 2024-11-24 01:40:50 4 days ago

Thousands of Farmers protest against inheritance tax changes
BBC ^ | Nov 19 | Ruth Comerford, Alex Binley

Posted on 11/19/2024 10:18:51 AM PST by RandFan

Thousands of people have protested in London over changes to inheritance tax for farmers announced in the Budget.

Among those marching in Whitehall was TV presenter Jeremy Clarkson, who said "it's the end" for farmers, as he called for the government to change its mind.

Prime Minister Sir Keir Starmer said he understood farmers' concerns and "wants to support" them but added "the vast majority" would be unaffected.

From April 2026, inherited agricultural assets worth more than £1m, which were previously exempt, will be liable to the tax at 20% - half the usual inheritance tax rate.

However, many farmers argue that while they are asset rich - for example in terms of their property and livestock - they are cash poor and the changes would mean they would have to sell up to be able to pay the tax.

(Excerpt) Read more at bbc.co.uk ...

TOPICS: Miscellaneous; News/Current Events; United Kingdom
KEYWORDS: jeremyclarkson; twotierkeir; unitedkingdom

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Thank you very much and God bless you.

"No farming. No food. No future."

This was snuck into the recent budget and farmers are outraged.

1 posted on 11/19/2024 10:18:51 AM PST by RandFan

To: RandFan

They’d be doing the same thing in the US but Trump stopped them in their tracks.

2 posted on 11/19/2024 10:19:53 AM PST by laconic ( )

To: RandFan

From April 2026, inherited agricultural assets worth more than £1m, which were previously exempt, will be liable to the tax at 20% - half the usual inheritance tax rate.

The normal inheritance tax is 40%? That is not taxation; it's confiscation.

3 posted on 11/19/2024 10:21:20 AM PST by Petrosius

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