Why Farmer Protests Have Now Reached the UK

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@samhall4117
@samhall4117 Күн бұрын
Another thing to remember is the value of the agricultural equipment such as tractors. A surprising amount of the value of a farm is in the equipment and buildings on the farm.
@hurataimad-s3q
@hurataimad-s3q Күн бұрын
Maybe they need to go back to basics. Tax the lot and see how things fall. More then certain you will get people willing to farm them lands without wanting profits. You do realize you can actually live of land.
@jackperry2821
@jackperry2821 Күн бұрын
Yes and if my property goes up in value does that get considered in the new inheritance tax laws? no. They always have the option of selling up some of their land for energy purposes. Why should farmers be subsidized over nurses, teachers etc
@domm9616
@domm9616 Күн бұрын
Yeah most trackers allowed are over 100k easily
@friedrichvonhoffmeister3343
@friedrichvonhoffmeister3343 Күн бұрын
​@@jackperry2821 bc you need to fucking eat before all else
@iNdepthInvestigation
@iNdepthInvestigation Күн бұрын
@@jackperry2821nurses and teachers are nowhere near as crucial as food. Farmers & food should come first every time. We can survive without nurses and teachers (look at the thousands of years of human history), but can survive only a few days with no food One is much more important than the others - let me tell you it’s not nurses.
@samuelbown7330
@samuelbown7330 Күн бұрын
The statistics shown are very misleading. If you live in a rural area, you will know that even modest farms are worth significantly over 2/3 million. 2nd hand machinery prices have risen massively, along with all the other costs that come with a farm. All this tax will do is deter generations from getting into farming. They'll decide its easier to inherit and sell it all to pay the tax instead of continuing the family farm that'll have been in their family for generations. Small and medium farms will disappear and large corporation owned farms will control the sector.
@rhubarb2301
@rhubarb2301 Күн бұрын
Exactly, and to pay the tax, a great deal of farmers will have to sell off the land they're best at farming to people who are still buying ag land for tax purposes, or investors buying it for offsets or smth else.
@spacetime3
@spacetime3 Күн бұрын
If the rich pretend farms sell land prices should force them down. Actual farmers can buy more land and do what they love. And you're only paying IHT when you need to its not every farm will be affected by this as of next year...
@stephfoxwell4620
@stephfoxwell4620 Күн бұрын
@@samuelbown7330 A farming couple leaving £3.5 million pay about £100,000. An ordinary couple leaving £3.5 million pay £1,000,000. Stop moaning Farmer No Cows.
@peterfairfax
@peterfairfax Күн бұрын
@@stephfoxwell4620 To be honest I'd also be annoyed if I was going to inherit a few million quid from mummy and daddy and then realised I had to start paying tax like everyone else... but that's life
@SaintGerbilUK
@SaintGerbilUK Күн бұрын
4:58 the idea that farm land price increases is due to wealthy people getting into farming when it happens to coincide with house prices and the drivers there is just dishonest.
@elbardo_lux
@elbardo_lux Күн бұрын
"you can avoid taxes if you pass your stuff at least 7 years before your death" sure, let me get the crystal ball to know when I'll be dead xD
@jjefferyworboys8138
@jjefferyworboys8138 Күн бұрын
What is not so well known is If you pass your home to your children, you have to move out or pay the market rent. Your children will have to pay tax on the additional unearned income. Always best to get professional advise.
@haztec.
@haztec. Күн бұрын
That's the entire point. It's to stop people avoiding IHT by gifting everything right before they die,
@AngloChristiann
@AngloChristiann Күн бұрын
@@haztec.inheritance tax is theft. Why would anyone possibly want to get taxed on what you’re own family have earned and been taxed on 5x over already. Some people are so far left they go on with this ridiculous tax tax tax agenda constantly. How anyone can want to depend on foreign important completely because that what will come if this is allowed
@zassakavuma5877
@zassakavuma5877 Күн бұрын
You wouldn't have to pass the whole thing in one go.
@mathyeuxsommet3119
@mathyeuxsommet3119 Күн бұрын
This is dumb but it also show that it won’t have any distortion on the market since nobody can foresee when the tax event(death) will happen.
@LordReginaldMeowmont
@LordReginaldMeowmont Күн бұрын
Who is going to buy up the farmland when they are forced to sell it? Corporations.
@Jack-cq9pv
@Jack-cq9pv Күн бұрын
Corporation Man Kier Starmer hits again
@djmattblack
@djmattblack Күн бұрын
Amazon farms
@user-zz9gn2dc3l
@user-zz9gn2dc3l Күн бұрын
All of the above and including Blackrock and Gill Bates
@user-zz9gn2dc3l
@user-zz9gn2dc3l Күн бұрын
Thought police deleted my comments
@arthur1670
@arthur1670 Күн бұрын
City workers wanting a tax break
@thegeekhome8933
@thegeekhome8933 Күн бұрын
TLDR video 6 years from now: This is why food prices in the UK are so high now.
@davidioanhedges
@davidioanhedges Күн бұрын
Brexit increased food prices, this will have little or no effect, as most farms will be unaffected
@CyrilSneer123
@CyrilSneer123 Күн бұрын
@@davidioanhedges Food prices have increased everywhere you lying runt. In Europe and the US, war in Ukraine, gas prices etc. You people constantly lie, you constantly leave out important context. I truly despise your kind.
@tremarley9648
@tremarley9648 Күн бұрын
@@davidioanhedgestax is a cost. A massive cost. More costs means they have to raise their prices.
@mattjtravels
@mattjtravels Күн бұрын
@@tremarley9648 a lot of the land value is due to it being inheritance tax exempt. Removing this could lead to land prices falling making farming expansion much cheaper lowering the price of produce. Effects of taxation aren't as simple as your presenting.
@SaintGerbilUK
@SaintGerbilUK Күн бұрын
@@davidioanhedges 68% of farms effected is most of them.
@UnwittingSweater
@UnwittingSweater Күн бұрын
What annoys me about this one is that there should be concrete data. We know what is classified as a farm. We know the general value of said farm. We know if they are owned by a married couple or not. So "who is hit" should not be up for debate. You may even be able to get a freedom of information request to collate this information yourselves?
@andrewsuleman1259
@andrewsuleman1259 Күн бұрын
Unless it has already been updated an released you won't get a "freedom of information request." they keep using the excuse that "it would cost more than £600 to collect and release the date"
@stephfoxwell4620
@stephfoxwell4620 Күн бұрын
@@UnwittingSweater Last year it would have hit 120 farm legacies out of about 2,500.
@mrmagoo-i2l
@mrmagoo-i2l Күн бұрын
@@stephfoxwell4620If you watch Harry’s Farm newest video he talks about there being a miscalculation to do with business tax.
@UnwittingSweater
@UnwittingSweater Күн бұрын
@mrmagoo-i2l is that a miscalculation on the government's data. You got a link?
@thelightsilent
@thelightsilent Күн бұрын
Imported foods that are the issue, local farmers just cant compete against foreign imports made from slave camps and use banned illegal farming methods. A import tax/tariff is greatly needed! like what the USA is trying to implement.
@Jonathan-z6e4v
@Jonathan-z6e4v Күн бұрын
You neglect an important argument against the change. Over time the tax will destroy a rural culture and transfer land ownership to giant aggro businesses transforming farmers from owners to workers. It’s a bit like 1066 when the owners were dispossessed and became tenants of powerful outsiders. And it won’t do anything to stop rich people avoiding inheritance tax. They will just buy fields worth a bit under the threshold and shelter a million each.
@danburrill8716
@danburrill8716 Күн бұрын
How do the
@aQuestionator
@aQuestionator Күн бұрын
@@danburrill8716 Oh I dont know, Because
@danburrill8716
@danburrill8716 Күн бұрын
@@aQuestionator They absolutely do. The vast majority of them are the descendants of William of Normandy's barons.
@neilbower9052
@neilbower9052 Күн бұрын
already happening, dyson invested in farmland to dodge taxes, so did clarkson
@THEF4LLOFM4N
@THEF4LLOFM4N Күн бұрын
This is 100% correct!
@sambland3903
@sambland3903 Күн бұрын
There are a lot of comments here that seem to imply that farmers are mega rich. Little could be further from the truth. Yes their land is valuable BUT they have to actually work the land to turn a profit. It isnt like money is falling out of the sky for them.
@mattrobert5
@mattrobert5 Күн бұрын
The point is the ones that aren't mega rich won't be affected. But there is a shit load of land owners that are claiming to be farmers to avoid tax. This tackles that issue. Fuck landowners always and forever
@TheJPHarvey
@TheJPHarvey Күн бұрын
The viewship and comments are getting progressively more left wing and TLDR is slowly losing its unbiased videos too, more and more of a left lean in every single video they post. A real shame. The first 1 min of this video was a complete mess, suggesting right wing conspiracy theorists are fuelling the protests is laughable.
@stephfoxwell4620
@stephfoxwell4620 Күн бұрын
@@sambland3903 Last year about 20% of farms were over £2.5 million.
@BSMerlin064
@BSMerlin064 Күн бұрын
Socialists have always seen farmers as rich land owners of yore.
@neilbower9052
@neilbower9052 Күн бұрын
google how much farmland dyson now owns
@robwebster3517
@robwebster3517 Күн бұрын
We lost £8000 last year, we are “technically” worth in excess of £10mill selling off land would be the only way to pay the bill which would make the business unviable. It would then be snapped up by foreign investors who have already massively inflated the price of farm land. The new SFI scheme is insane, I had to spend a week measuring hedges and their quality to potentially get a payout of £2000. It’s absurd and provides no benefit to the environment. Finally it raises almost no money at all, so it’s destroying family businesses that support communities for pennies (relative to the national budget)
@leojohnson-lay4051
@leojohnson-lay4051 Күн бұрын
@@robwebster3517 must be nice 👍🏼
@mattevans4377
@mattevans4377 Күн бұрын
Investors and government being in cahoots should really be investigated. Unfortunately, I get the feeling the MSM is also in cahoots, so it won't get reported
@ItsDeffoScott
@ItsDeffoScott Күн бұрын
Foreign investors would also have to pay this inheritance tax.
@lcoyle1998
@lcoyle1998 Күн бұрын
Having 10mill available to you REALLY means I have zero sympathy when you moan about money when millions are using foodbanks. Just sell it if you have to...
@mattevans4377
@mattevans4377 Күн бұрын
@@lcoyle1998 And where will the food come from? And before you say imports, what happens when trade and travel are shut down, like in a pandemic
@PRWilson88
@PRWilson88 Күн бұрын
I’d add a clause, if you remain a working farm producing £XXXX of food for 5 years then you don’t pay inheritance tax. Maintains the farm and keeps them going. But, won’t force a sell off of land.
@garywebb1461
@garywebb1461 Күн бұрын
Then they'll cry that "But I'm only earning £6k a year" grossly understating the situation. It's the same with any business, if the business isn't profitable, it's a failed business, if you need to sell assets to keep the business "surviving" then sell some of the assets. The issue is these right wingers / farmers don't like the thought of special needs needing subsidised transport, roads needing to be fixed, the NHS being on it's backside and more people falling under the poverty line due to lack of infrastructure and investment. It's let me keep my money with me, and you go spend yours to help others. I'm glad the government is finally balancing the odds, albeit slightly.
@jjxed
@jjxed Күн бұрын
It's important for a government to be able to predict future tax takes to build budgets from. Adding a clause like yours make it hard to predict so they tend to avoid them, despite being an obvious improvement.
@immortallvulture
@immortallvulture Күн бұрын
While certainly a good idea the problem is people like clarkson and Dyson would both dodge inheritance tax under this as they do actually run working farms.
@PRWilson88
@PRWilson88 Күн бұрын
@@immortallvulture true it’s a trade off. Secure domestic farming vs tax. Someone would need to calculate it out. I’d mainly want to avoid inheritance hand down followed by it being sold off for a giant cash grab.
@hurrdurrmurrgurr
@hurrdurrmurrgurr Күн бұрын
@@immortallvulture There are plenty of ways for rich people to avoid paying taxes, becoming productive farmers is one of the most beneficial.
@steveozone4910
@steveozone4910 Күн бұрын
Clarkson only bought his farm to avoid inheritance tax. He said so himself lol
@PoseidonOilRig
@PoseidonOilRig Күн бұрын
BASED
@SillyBillyOneHundreadMilly
@SillyBillyOneHundreadMilly Күн бұрын
So what?
@Dee78584
@Dee78584 Күн бұрын
Inheritance tax is vile. Taxed all your life and then taxed for handing down what you've spent your life working for.
@SaintGerbilUK
@SaintGerbilUK Күн бұрын
So thats one farmer out of how many?
@TugaAvenger
@TugaAvenger Күн бұрын
@@Dee78584 You're not being taxed. The freebie your child is getting is.
@PoseidonOilRig
@PoseidonOilRig Күн бұрын
FARMERS ARE OFTEN ASSET RICH BUT CASH POOR! THEY'LL BE FORCED TO SELL THEIR FARMS!
@hurataimad-s3q
@hurataimad-s3q Күн бұрын
So?
@johkupohkuxd1697
@johkupohkuxd1697 Күн бұрын
​@@hurataimad-s3q Want less farmers? Production of food is good if you didn't know.
@zax1998LU
@zax1998LU Күн бұрын
So the problem isn't the tax it's that they're cash poor. If they weren't cash poor this wouldn't be a problem. So we should make sure they not cash poor then. Right?
@hurataimad-s3q
@hurataimad-s3q Күн бұрын
@@johkupohkuxd1697 Less farmers??? Or less UK farmers??? Don't think anything the UK does effects much in global food production. However I do feel strongly about food waste. So yes, less UK farmers, please. Maybe then some poor s0d in some poor country can get his actual money's worth.
@jjefferyworboys8138
@jjefferyworboys8138 Күн бұрын
Rather like many ordinary families. All the money is the property with very little in the Bank.
@jamesgreene6817
@jamesgreene6817 Күн бұрын
Meanwhile, in 10 Downing Street; “Claaaarksssoonnnn!!!!
@Nayfus9
@Nayfus9 Күн бұрын
What was he on about 0:38
@jamesgreene6817
@jamesgreene6817 Күн бұрын
@ In fairness probably what it would lead to. Farms are the first step in the food chain for rural economies. They go, we just all live in cities from now on, cause that’s where the jobs are.
@aceman0000099
@aceman0000099 Күн бұрын
​​@@jamesgreene6817 farms wont go simply because theyll lose a bit if they're inherited. They might be sold but other farmers could buy them. And like the video says, the most expensive farms inherited are often just tax avoidance schemes for the rich, not real farmers. So those could eventually even return to farmers and land value would decrease.
@Stepbystep74
@Stepbystep74 Күн бұрын
Inheritance tax isn’t the problem, farmers need to profit from food production. The only people who benifit from the inheritance tax are investors shopping for loopholes who are hurting farmers by increasing the cost of land
@Shmimbleton
@Shmimbleton Күн бұрын
You think more expensive food is good for society?
@hurataimad-s3q
@hurataimad-s3q Күн бұрын
Not the only ones. Actual farmers abroad? Not these fake lot.
@BiggusThiccus
@BiggusThiccus Күн бұрын
Inheritance tax IS the problem. It's evil. It punishes responsible families for doing the most selfless act they can for the betterment of those who will come after them.
@jackperry2821
@jackperry2821 Күн бұрын
@@BiggusThiccus oh do shut up. So you think people should get money for free? The UK granted you wealth, you should want to pay something back to the society that gave you it. The last few months have shown us who the real freeloaders are with the closing of all these tax loopholes
@BiggusThiccus
@BiggusThiccus Күн бұрын
@@jackperry2821 the people and families who attained their wealth DID pay taxes. Income tax and sales tax on all of it. This tax specifically is punishment for protecting your family. The only freeloaders are the people who feel entitled to the money of others.
@jwar238
@jwar238 Күн бұрын
The problem is that the thresholds wildly underestimate the value of most farms. As it's not just the land and farmhouse but machinery, barns etc. While they have a cash value that counts towards the threshold none of these assets can be liquidated without crippling the farm. All that needs to be done is to push the threshold up to say 2.5M then the government's statements would have a much greater ring of truth to them.
@jamesthomas4841
@jamesthomas4841 Күн бұрын
...but that would mean farmland would still be a useful tax shelter for the rich. Especially when farmland will only attract half the tax rate of other assets when above the threshold.
@jwar238
@jwar238 Күн бұрын
@jamesthomas4841 true but not to the same degree. How about actually shrinking the tax burden created by government rather than continuing to fleece people? Not likely to happen as that would mean the government having less control over society but a man can dream.
@MrRandomdancer
@MrRandomdancer Күн бұрын
The main issue I hear from farmers around me here is this has been decreed and no consultation took place on the best way to close the loophole and still protect legitimate family farms. It seems a sledgehammer is being employed to crack a nut. And like the government before them, the current government is massaging the numbers to suit their narrative.
@hurrdurrmurrgurr
@hurrdurrmurrgurr Күн бұрын
@@jamesthomas4841 So tax the rich for each year they don't farm. Punishing everyone, especially those who provide a service for the entire nation is insane.
@jamesthomas4841
@jamesthomas4841 Күн бұрын
@hurrdurrmurrgurr " punishing everyone".... not really. I don't think people who have estates worth above 3 million pounds is "everyone ".
@MattOatesUK
@MattOatesUK 23 сағат бұрын
We also need to stop saying "farmers" its the most wealthy 25% of farm land owners, which at the high end is very few farmers directly and far more very wealthy families who take rents from farmers. The only risk is if these people dont have the liquid assets to pay for the tax when someone dies. The reality is almost all of them will avoid this anyway, loads of farm and in the UK is already owned by family investment companies which is a vehicle to avoid tax already.
@RCSVirginia
@RCSVirginia Күн бұрын
In order to nurture and encourage multi-generational family farms and businesses, "Socialist" Sweden has no inheritance tax whatsoever. That policy is a crucial part of Sweden's economic strategy to maintain growth and prosperity.
@kls1836
@kls1836 Күн бұрын
Norway too don't forget.
@jakub48635
@jakub48635 Күн бұрын
agriculture is 1.6% of sweden's economy, it isn't vital.
@shellshockedgerman3947
@shellshockedgerman3947 20 сағат бұрын
Yea, and Socialist Paradise Sweden has a shocking amount of wealth inequality.
@meferswift
@meferswift 3 сағат бұрын
@@jakub48635 that's a very capitalistic way of looking at it.
@jakub48635
@jakub48635 3 сағат бұрын
@meferswift I don't particularly care, farming is a business like everything else, it shouldn't have special protections and if you can't afford to run a farm then don't run one.
@hello-825
@hello-825 13 сағат бұрын
How about taxing the rich? Like people who are worth millions and billions? You know the people that have more wealth than towns, cities and even countries combined. combined. How about the government Taxes the people that received millions for supplying faulty PPE equipment for example, you know the people that have hardly been taxed ever. But no. The government will never tax their mates.
@goughrmp
@goughrmp Күн бұрын
Kier Stalin living up to his namesake to clear out the Kulaks
@armaan6101
@armaan6101 13 сағат бұрын
Wow ur so reasonable and compassionate for anyone who actually experienced Stalin's impact 😊
@红太阳-z2m
@红太阳-z2m Сағат бұрын
@@armaan6101 the policies are the same durak
@SkintLivingUK
@SkintLivingUK Күн бұрын
Its simple economics. Rich people buy farms to get out of paying inheritance tax. If farms become taxed the rich will get rid of their farms and it will open up the market whilst lowering land prices to would be farmers. Farmers are struggling because food manufacturers and supermarkets are NOT paying a high enough and fair price for the farmers produce. This is what the government should tackle, as always big business sh*tting on the little guy.
@conormurphy4328
@conormurphy4328 Күн бұрын
That sounds like a nice idea, but what’s to stop companies buying the low priced land and either hiring tenant farmers or using the land for other means?
@mr.afrikaans1747
@mr.afrikaans1747 Күн бұрын
@@conormurphy4328exactly, they’ll spout any old bollocks.
@crownsubject
@crownsubject Күн бұрын
We don’t want to pay more for food in the shops genius
@zatrox9438
@zatrox9438 Күн бұрын
but with this law you are also forcing real farmers to sell their farms if they can't pay up the inheritance tax, and who is more likely to buy a £1milion+ farms? hint, it's not other farmers, but more rich people. The real issue with your argument tho, is inheritance tax, so by your logic, getting rid of the inheritance tax would also bring about the same results
@zacgrierson
@zacgrierson Күн бұрын
Also im pretty sure with the companies buying up farm land to use for housing these days, Kent will just become a massive housing project.
@joebarthram596
@joebarthram596 Күн бұрын
Okay, so you say richest 25% of farmers but as you gloss over, the NFU, a source with much more direct access to farmers, has a huge issues with those figures. But seperate to that, if you have a farm and machinery and other assets worth let's say £2m 80 acres (smaller than the average) plus equipment and farm buildings, you have to take into account that you have insane running costs at the moment. So you have a large asset base but in a lot of cases you barely break even... You then put large cash poor farms in the position off selling assets or selling the farm as a whole, losing generational knowledge, or having to downsize to a less efficient opportation which may in the future fold due to finances just not making sense.... Got to say this take from you guys is peculiar, why target every farm regardless of the type of owner rather than the individuals who purchase a farm/farm land to shield themselves from taxes is baffling.
@willdbeast1523
@willdbeast1523 Күн бұрын
The problem is people take the "number of assets qualifying for Agricultural property relief" as the number of farms which is not the same thing. Many larger estates will include some stuff classed as agricultural property for tax reasons (of relatively low value but part of a larger value estate) such as a potential building plot that's currently rented out as pasture which I think no-one would really consider a farm, and this massively inflates the number.
@aceman0000099
@aceman0000099 Күн бұрын
​@@willdbeast1523 isn't that tax avoidance stuff exactly what this tax is supposed to tackle?
@VincentVance-j4w
@VincentVance-j4w 18 сағат бұрын
Also the NFU stands for the National Farmers Union who are not just a source with direct access to farmers they have a vested interest in them. That begs the question of how impartial and accurate their data is.
@TheMaddJon
@TheMaddJon Күн бұрын
Millionaires like Clarkson and James Dyson who've been buying up all the farmland to avoid paying tax are a greater threat to our food security than any inheritance tax changes, last year 56% of farmland purchases were from non-farmers, for the explicit use in tax ivasion. Boo hoo, millionaires having to pay their fair share, let me play my smallest violin.
@SDDT24
@SDDT24 Күн бұрын
But it’s clear the policies that destroy family farms , their land will be brought by corporations and the government as basement bottom prices and it sill be converted for land for houses and farming yields will then reduce
@tree427
@tree427 Күн бұрын
I take it you're a fan of steve buscemi
@tank9432
@tank9432 Күн бұрын
Inheritance tax shouldn't exist
@yully89
@yully89 Күн бұрын
a lot of farmers arent millionaires though, clarkson is the exception, not the example
@SDDT24
@SDDT24 Күн бұрын
Yes but if they still produce the same yield of food I don’t see much of an issue , it’s when after this policy land will be sold by broke farmers at rock bottom prices and corporations and government will buy the land and build housing and data centres etc and yield will reduce nationally
@Ruddpocalypse
@Ruddpocalypse Күн бұрын
Public when protestors use vehicles to block traffic: 😊 Public when protestors walk to block traffic: 🤬
@brianenwude5722
@brianenwude5722 20 сағат бұрын
One are losers with nothing offering nothing, the other are hard workers feeding a country....
@bob1234881
@bob1234881 Күн бұрын
I think you failed to mention that farms yield about 1 to 0.5% on the value of the land, meaning you are taxing 20 to 40 times a farmers income. Also who is going to buy? A combine is worth £0.5m. Farmers should be taxed inheritance tax but start at 1% and increase it so farmland can have time to lose value so people that want to buy it can but also farmers can pay for the tax.
@suburbanyobbo9412
@suburbanyobbo9412 Күн бұрын
You are correct, and all these knee jerk reactions of people running to the defence of the government should be recounted to them when farmers go out of business and farm land is increasingly bought up by corporations.
@aceman0000099
@aceman0000099 Күн бұрын
​@@suburbanyobbo9412corporations that manage to run farms much more efficiently and effectively than smaller landowners. The top 9% of farms make up over 60% of the national output. These farms have higher margins and can afford to sell cheap food.
@suburbanyobbo9412
@suburbanyobbo9412 Күн бұрын
@@aceman0000099 There is no evidence that corporations manage to run farms more efficiently or effectively that small landowners in the UK. I have studied agriculture at higher education.
@insignia1671
@insignia1671 Күн бұрын
Farming really has such a little effect on the economy, and for people saying it will affect food security, we haven’t been food secure for years, and Brexit didn’t help that, despite most farmers voting for Brexit.
@neilbower9052
@neilbower9052 Күн бұрын
Clarkson is on record as saying that he only bought the farmland as an INHERITANCE TAX DODGE
@SaintGerbilUK
@SaintGerbilUK Күн бұрын
Thats one farmer of how many? You can add Dyson to that list that's two, of how many?
@CalebAsmussen
@CalebAsmussen Күн бұрын
How the hell is that justification? Taxes for that is still insane!! My god you leftists are just toxic to society
@Stepbystep74
@Stepbystep74 Күн бұрын
Anyone who thinks clarkson didn’t buy a farm to take advantage of inheritance tax loopholes doesn’t know the man
@bestrafung2754
@bestrafung2754 Күн бұрын
Exactly, he's a just a rich, oldish TV presenter who just wants more attention and money. He's only recently gotten into farming and I doubt he cares much about ordinary workers. Anyone who seriously thinks he actually cares about farmers is kidding themself. It'd be like if I suddenly got up one day, decided to apply for a job as a bin man, and decided that now makes me working class and a champion of the workers.
@kylerowsley
@kylerowsley Күн бұрын
Why would wanting your assets to go to your own children instead of the government when you die be a negative thing. It's not like this benefits the current owner of the land if they are dead later, untaxed inheritance benefits the inheritors, not the current owner.
@andrewjohnston3937
@andrewjohnston3937 Күн бұрын
Clarkson has said he does not mind paying the tax. He agrees people like himself who have made their money doing something else besides farming should be taxed. However people who would literally have to sell their assets, their land, so that they can pay the tax and who have not earned their money from another area of expertise should not be taxed.
@timsyoutube6051
@timsyoutube6051 Күн бұрын
Not all farmers are Jeremy Clarkson. Government yet again taxing the wrong things. Heaven forbid they tax genuinely wealthy people who make money doing nothing.
@Kincoran
@Kincoran Күн бұрын
@@kylerowsley For the same reason that you'd want an ambulance to be able to get to you sooner rather than later. You'd want everyone else paying their taxes so that and other services stay in place. And you'd then have to accept that it's your duty just as much as anyone else's to pay into that pot - particularly if you are least at risk of financial hardship. Tax is good for everyone.
@stephfoxwell4620
@stephfoxwell4620 Күн бұрын
The Farmers problem is not IHT. It is food manufacturers and retailers not paying enough. IHT is easily avoided by family farms by giving the farm to your children at least 7 years before the farmers wife dies.
@benradical
@benradical Күн бұрын
But if you work on the farm or live in the farm house, then it is no longer classed as a gift and therefore subject to tax.
@kacperpiotrowski7239
@kacperpiotrowski7239 Күн бұрын
Really thatvs good to know
@gweejiahan9336
@gweejiahan9336 Күн бұрын
how do you actually determine when is 7 years though. How do you determine you will die???? if i hand over now and 6 years 6 mths passed and i died of an accident. do my kid then have to pay the IHT?
@megadwarf4714
@megadwarf4714 Күн бұрын
good thing the tax is not based on a standard timing and not on something silly like whenever you die, that would be really crazy
@KingFinnch
@KingFinnch Күн бұрын
@@gweejiahan9336so hand it to your kids earlier? fairly simple solution
@KenzieHaigh-qx2ug
@KenzieHaigh-qx2ug 17 сағат бұрын
Me sitting here confused because I'm an Aussie with no death tax
@ia22345
@ia22345 Күн бұрын
Pay your taxes like everyone else has to. If you can't make money sell your farm and sell your Rangerover get a job. Also farmers and landowners should pay THE SAME AMOUNT OF TAX as everyone else!
@meferswift
@meferswift 3 сағат бұрын
i liked that capitalistic argument.
@红太阳-z2m
@红太阳-z2m Сағат бұрын
‘Everyone else’ won’t pay this tax given only 4% of estates in the UK are subject to inheritance tax. You would rather a small family farm be sold off to a billionaire’s corporation when they can’t foot a £300,000 bill that a corporation can. Durak.
@红太阳-z2m
@红太阳-z2m Сағат бұрын
Yes get a corporate job churning out spreadsheets, and who is going to grow the food?😂bro is dick riding big corporations
@benm1050
@benm1050 Күн бұрын
You know it’s a bad decision when the governments only defences are the ways people can get around it, “a married couple will get £3million” - so your saying £1million is too low “you can pass it on 7 years in advance” - your saying you should just dodge the tax
@Chipchap-xu6pk
@Chipchap-xu6pk Күн бұрын
The last thing London needs is yet more millionaires clogging up the streets.
@richardwood6146
@richardwood6146 18 сағат бұрын
You're forgetting the farms who will be forced to sell to big corporate/government ownership, forcing us to rely on imported food more (oooh looks like we need to be in the EU again, shucks!) or reliant on profiteering faceless corporations who leave unless they're given wildly favourable conditions. Corporate profits or Government control always win. The little guy always loses.
@itszealous1400
@itszealous1400 Күн бұрын
Wow this comment section is going to be completely civil and have no disagreements whatsoever
@JoelJames2
@JoelJames2 Күн бұрын
I mean, given it’s a video about taxes, it is pretty civil by American standards.
@aceman0000099
@aceman0000099 Күн бұрын
You should see the comments on msm coverage, it's all double digit IQ yelling
@SDrtheone
@SDrtheone Күн бұрын
Laws of self-preservation should come into play here. We're an island. We need to be using as little land as possible with buildings. More buildings = Less land. Less Land = Less food. Population is a compounding statistic. The more people there are, the faster the population grows. I'm talking no doubt 100's of years away, but sooner or later we will run out of usable space for an every growing population. Close the borders to people whom do not belong here, look after ourselves and self-preservate as much as you can, as soon as you can.
@Bravo-oo9vd
@Bravo-oo9vd Күн бұрын
I'd advise you to first look at UK fertility rate and housing prices before generating such bullshit
@SDrtheone
@SDrtheone Күн бұрын
@@Bravo-oo9vd Please elaborate which parts were bullshit. None of it was opinion, only the facts that we will eventually run out of land... Dichead
@Bravo-oo9vd
@Bravo-oo9vd Күн бұрын
@@SDrtheone If you want to know where I disagree with your "facts" about "overpopulation" and "running out of land", you're welcome to read my previous comment however many times you need.
@alistairmonro
@alistairmonro 17 сағат бұрын
​@@Bravo-oo9vdthe UK fertility rate is the EXACT reason we do not need more housing. It's artificially increased demand.
@ben10pop
@ben10pop Күн бұрын
This is what happens when you have a cosmopolitan political class who think that our food comes from the supermarket
@ronan5228
@ronan5228 Күн бұрын
No, this is what happens when you have a fairly noncompetitive farming sector that votes against their own interests and throws a shit fit anytime they have to actually help the rest of society
@suburbanyobbo9412
@suburbanyobbo9412 Күн бұрын
@@ronan5228UK farming subsidies matched EU farming subsidies. Brexit has driven more wage growth than inflation. Stop spouting off utter nonsense.
@lindacurrie8817
@lindacurrie8817 Күн бұрын
​@@suburbanyobbo9412And you check your own spouting nonsense. Stop looking down to fill the coffers and start to look up. All in it together. Let's see that Tories mantra be more than words.
@suburbanyobbo9412
@suburbanyobbo9412 Күн бұрын
@@lindacurrie8817 Who is “Looking down to fill the coffers”?
@RyanShiels
@RyanShiels Күн бұрын
I would have thought a farm was a LTD company with the amount of business they do. Then you can just have your children on the board, and step down when you retire.
@MightiiNinja
@MightiiNinja Күн бұрын
This is a land grab, not just a tax grab.
@JackFromMorley
@JackFromMorley Күн бұрын
The fact that absolutely everyone with a connection to farming, regardless of whether they'd actually be affected by this or not or their wealth level, is calling it disastrous and everyone calling it good and fair has zero experience or knowledge on the topic other than "EaT tHe RiCh" says it all to me.
@davidioanhedges
@davidioanhedges Күн бұрын
If you look you will see the people who finance farmers saying they the majority will pay nothing, and the few that do can afford it
@dorkangel1076
@dorkangel1076 Күн бұрын
How many of them know it won't affect them? It's not the first time people have protested based on things they have been incorrectly told will affect them but actually don't.
@theweirdsideofreddit3079
@theweirdsideofreddit3079 Күн бұрын
I am part of a rural farming community in the West Midlands. I honestly don’t know of many of us that are bothered by this as it literally won’t affect us. The only people this is gonna affect are the top 1% of us who can afford it…and the super rich dodging tax
@awwasson
@awwasson Күн бұрын
I have listen to a few tax experts who know more IHT than I do. They have all said that the limit could be as high as £3 million before they have to start paying tax. I think this is a case of misinformation by certain groups. Funny how there were no mass protests against the loss of subsidies, the loss of access to the EU, the trade deals with Australia and NZ. I bet most of those protesting today will not be affected by the tax one bit. Dyson and Clarkson have admitted the reason why they are buying farm land is to avoid IHT.
@2639theboss
@2639theboss Күн бұрын
These are the same farmers who by and large voted for Brexit, which is the biggest issue with their own profitability, correct? Yeah im gonna go out on a limb and say maybe they arent the most informed and dont have an interest in becoming informed.
@spacetime3
@spacetime3 Күн бұрын
On the Subject of Agri Equipment nearly all of the assets used in a working farm will attract either agricultural property relief (“APR”) or business property relief (“BPR”) at 100 per cent. This means that no IHT is payable at all on the transfer of these assets.
@marneus
@marneus Күн бұрын
The United Kingdom is going to be the Zimbabwe of Europe.
@JDRacing-j2v
@JDRacing-j2v Күн бұрын
its been a common way of dodging inheritance tax for years.
@davidioanhedges
@davidioanhedges Күн бұрын
Since around 2000, when farmland prices started rising rapidly as rich people bought it to avoid inheritance tax
@SuperBobbster
@SuperBobbster Күн бұрын
Perhaps it has but how does very wealthy people buying land as a tax dodge translate into actual farmers being forced to pay inheritance tax on their land help anyone?
@jackhenry8816
@jackhenry8816 Күн бұрын
Inheritance tax is theft.
@inanis9801
@inanis9801 Күн бұрын
It may be, but it does incentivise people to keep it as farmland since that becomes a valuable asset. If this is changed, not only would farms brake down into smaller farms, but I believe a lot of arable land will be put to other purposes since farming isn't profitable and the rich people that own it would want to make money out of something that is no longer tax-free. This would go against the goal of becoming self-reliant and insulated from things like the war in Ukraine in terms of food supply. Personally, I believe changing farmland to be used for another purpose, vis-a-vis building houses, should come with a hefty tax.
@backacheache
@backacheache Күн бұрын
Clarkson has clearly said that's why initially bought his farm, maybe that's what brought it to the public conscious
@Noddydc
@Noddydc Күн бұрын
I'm not even a farmer but this is the first time I've questioned the bias of this channel...
@SaintGerbilUK
@SaintGerbilUK Күн бұрын
No mention that the farmers say it would be 68% of them affected, the government have inflated the price of land with their poor economics and then want to punish farmers for having such valuable land.
@brucelang9031
@brucelang9031 Күн бұрын
Agreed. Funny how everyone else attending the protests are right wing conspiracy theorist haha
@ZCoupon
@ZCoupon Күн бұрын
Because they presented both sides of the argument?
@cdb5001
@cdb5001 Күн бұрын
​@@ZCouponThey did but it's clear which was presented as less legitimate, despite some very real concerns.
@alistairmonro
@alistairmonro Күн бұрын
​​@@ZCouponbecause one of the introductory points was trying to align farmers with the 'far right' Also how many farms will actually be affected was downplayed by the treasury, by around 50% The lie about 3m worth of assets can be pass down if you properly align the assets, real figure is 2m. The framing of "if you think public services are a waste, then you'll not agree" There are more points but it's pretty clear this channel has a bias.
@djoldschool
@djoldschool Күн бұрын
Farmers 2016: 'We want Brexit'. 'Take back control'. Farmers now: 'Where's all the EU cheap labour gone?!' 'Where have all our EU handouts gone?!'
@wc08amg
@wc08amg Күн бұрын
I didn't think leopards would eat MY face!
@Youtube_deleted_my_favourites
@Youtube_deleted_my_favourites Күн бұрын
That's the comment right there, the one thing no one is saying till now!
@timsyoutube6051
@timsyoutube6051 Күн бұрын
@@djoldschool family farmers don't use EU cheap labour. Massive corporate farms do.
@SillyBillyOneHundreadMilly
@SillyBillyOneHundreadMilly Күн бұрын
Farmers 2016: 'We want Brexit'. 'Take back control'. Labour party: 'We will punish you for Brexit'.
@djoldschool
@djoldschool Күн бұрын
@@timsyoutube6051 I really don't think that's true. I've seem plenty of interviews from small family owners complaining about having foods rotting in the fields due to a lack of workers.
@shayed9930
@shayed9930 Күн бұрын
We are with farmers ✊🏾
@erint5373
@erint5373 Күн бұрын
I wonder if this whole conversation is missing the point: UK farms are predominantly held by an aging demographic, with the majority not having concrete plans to pass their land on to a relative when they retire. Meanwhile the largest farming companies in the UK have been doing their best to buy up this land. Labour, as I see it, is effectively trying to deincentivise this practice w/o challenging the tax relief currently going to these big players. I do think that this needs to be the beginning of the package for farmers, as govt intervention in supermarket practices, rejigging tax relief away from meat & dairy and towards plants, land rejuvenation, and equipment is probably going to do more for the average farmers pockets than the status quo. But if farms get caught up by large corps over the next few decades, prepare to see more USA style agricultural issues in the UK, and a loss of tradition which is what most farmers are looking to protect.
@JulianDulay-m8t
@JulianDulay-m8t Күн бұрын
Oak, Ash and Thorn!
@JackSparrowTheCAPTAIN
@JackSparrowTheCAPTAIN Күн бұрын
You are literally brainwashed
@VincentVance-j4w
@VincentVance-j4w 18 сағат бұрын
I live in the countryside. In fact my parents where friends of George Eustice's parents when I was growing up. What has been happening in recent years is wealthy people have been investing in farmland with the specific intention of avoiding inheritance tax. Jeremy Clarkson even gave an interview a few years ago saying this was his intention he invested in a farm. This has had the effect of pushing up the value of farmland and that in turn has pushed up the costs of farming it, this has played its part in hurting smaller owned family farms financially. I moved from Cornwall to Wiltshire about 25 years ago. I still live in the countryside and I am surrounded by farmland. In fact the bulk of it around me is owned by Nathan Rothschild, one of the wealthiest men in the UK. Labours policy will really only impact between 500 and 750 of the wealthiest farmers. The likes of you and I have to pay inheritance tax on an estate worth over 325 thousand so why shouldn't sometime like Nathan Rothschild?
@LurkingObserver
@LurkingObserver Күн бұрын
0:44 done with name calling. Now they're far right conspiracy theorists
@alistairmonro
@alistairmonro 17 сағат бұрын
Don't forget near the end where they basically say "if you hate the NHS you support farmers"
@charliecrome207
@charliecrome207 20 сағат бұрын
The fact that farmers and working class people can be right wing economically is a mystery to me. It makes sense for rich people because it benefits them, but it's like the working class have had the wool pulled over their eyes
@BeachandHills-hb2pq
@BeachandHills-hb2pq 13 сағат бұрын
@@charliecrome207 socialists and communists want get rid of private property. You took away all the farms and made them collectives controlled by the party. Ban self employment. Bring self employed or in a small ferm are the places the working class can make money. The opposite of what socialist want There just Robber Barons with a smile saying we will look after you. But want all you can make.
@salicazsali
@salicazsali Күн бұрын
"Right wing conspiracy theorists" we always seem to get that label when we dare question something. Funny that...
@ProsecutorZekrom
@ProsecutorZekrom Күн бұрын
Conspiracy theories because you have no evidence, only feelings. Right wing because that’s the side of the political aisle your ideas are associated with. If you don’t like it, become left wing or get some evidence.
@zbg31
@zbg31 Күн бұрын
The specific conspiracy is ethnic replacement via 'immigrant towns'. Any evidence for that, or is it just baseless 'questioning'? (which btw, is essentially what a conspiracy is)
@Jmcinally94
@Jmcinally94 Күн бұрын
Yeah farmers questioning and challenging policy - Fine, normal behaviour in a democracy Assuming it's all to do with shipping immigrants with no evidence - Right wing conspiracy
@Thedarkknight2244
@Thedarkknight2244 Күн бұрын
Lmao if you actually believed in the ideas you subscribe to and didn’t think they were ridiculous, you wouldn’t even think the blank term applied to you
@ProsecutorZekrom
@ProsecutorZekrom Күн бұрын
@@zbg31 And the Jews want that to happen because… uh… they’re evil, or something…
@theuser810
@theuser810 19 сағат бұрын
It is disgraceful that Clarkson shifted the blame onto immigrants, who are unlikely to buyout these farms, when it is almost certain that corporations (who are to blame) were the ones who pushed this change, and will be snatching up farms.
@t2-scoops436
@t2-scoops436 Күн бұрын
Would love for you to send a list of farms available for less than a million pounds…
@iainamurray
@iainamurray Күн бұрын
£2m. The £1m is on top of other allowances.
@t2-scoops436
@t2-scoops436 Күн бұрын
@@iainamurray” most farmers won’t be effected because their farms aren’t worth £1 million” timestamp is 6:06
@jjefferyworboys8138
@jjefferyworboys8138 Күн бұрын
It's possible to get the threshold up to £3m, for a married couple. Farmers need professional advise.
@t2-scoops436
@t2-scoops436 Күн бұрын
@@jjefferyworboys8138 they have no money… who’s giving that advice? At what cost?
@iainamurray
@iainamurray Күн бұрын
@@t2-scoops436 The Agricultural relief is £1m. You also have your nil rate band and Residential Nil Rate band and spousal exemption.
@mattglover560
@mattglover560 Күн бұрын
Surely if you make an exemption for inheritance tax for land used for agricultural purposes itll incentivise more land to be used for it? Include green energy farms in it and we're laughing right?
@jjefferyworboys8138
@jjefferyworboys8138 Күн бұрын
An interesting comment. Agricultural land can be used for a variety of purposes, not just food production and some of those other uses generate a lot more income.
@CCrohny
@CCrohny Күн бұрын
"Right wing conspiracy theorists". Man you guys have fallen so far from neutrality.
@thepepper191
@thepepper191 Күн бұрын
Ethnic cleansing?
@stupidminotaur9735
@stupidminotaur9735 Күн бұрын
yup
@MarcWagner-z5c
@MarcWagner-z5c Күн бұрын
Right wing conspiracy theorists in 2024 actually means people with common sense...
@worlds-biggest-mbn-fanboy
@worlds-biggest-mbn-fanboy Күн бұрын
😂 no​@@MarcWagner-z5c
@ronan5228
@ronan5228 Күн бұрын
I don't think it's in line with journalistic integrity to be "neutral" regarding people who believe in jewish space lasers and government weather machines. Right-wingers always crying victimhood because they don't understand reality.
@daniel9256D
@daniel9256D Күн бұрын
As an accountant it’s worth pointing out that the Resident Nil Rate Band is only available on the main residence of an individual passed down to a direct descendant and is tapered off if the individuals entire estate is worth more than 2 million which is likely the case if they own farm land and are worried about these tax changes.
@danielkoval4546
@danielkoval4546 Күн бұрын
I am a big fan of Top Gear and Grand Tour. I love the trio of Jeremy Clarson, James May and Richard Hammond. But we all know that Jeremy is a showman and he always had a big mouth. But I woundn't call him so called leader of community. He is just loudest probably. Also, he had been conservative supporter always. So he will take any shot to critisies Labour government.
@anjelkanja8032
@anjelkanja8032 Күн бұрын
He's also the reason for the change, him buying up farmland for tax evasion, is probably why he's against it
@melluques8475
@melluques8475 Күн бұрын
Amen to you🙏🏻🙏🏻🙏🏻
@timsyoutube6051
@timsyoutube6051 Күн бұрын
@@danielkoval4546 please point me to the time Clarkson supported the Conservative party? He never actually states who he supports although I suspect he's a lib dem guy.
@freedompodcast4518
@freedompodcast4518 Күн бұрын
I think inheritance tax should be non-existent altogether I don't care how rich or poor you are that money should not go to the government that money should go to your family and that's end of!
@jjefferyworboys8138
@jjefferyworboys8138 Күн бұрын
Agreed, but taxes would you increase to make up the estimated £9bn it will raise this year ?
@BeachandHills-hb2pq
@BeachandHills-hb2pq 13 сағат бұрын
@@jjefferyworboys8138 You pay 20% income tax then 20% vat when we buy things. So 40% of my wages goes on tax. If I give you something over 3000 tax man gets interested. I own anything and it goes up in value tax man is interested. Government gets 40% of my wages and still not Enough ???????
@BeachandHills-hb2pq
@BeachandHills-hb2pq 12 сағат бұрын
@@jjefferyworboys8138 just found out the uk gdp is 2.3 trillion and the government gets 1 trillion and they are broke ????
@gweejiahan9336
@gweejiahan9336 Күн бұрын
If the reason is to target rich people buying the farm to pass down as inheritance to avoid inheritance tax. Why not tax the buyer of farmland Y% at point of sale when they are purchasing over $X amount. If majority of farming peeps are just passing down their farmland as inheritance they would not be affected.
@aaroneus5479
@aaroneus5479 Күн бұрын
Funny you say that. There is something called Stamp duty which is a tax on buying property or land.
@edwardjones1098
@edwardjones1098 Күн бұрын
Additionally, it doesn't achieve the same thing - you might pay some tax when you purchase it initially, but if that means you never have to pay inheritance tax on it again, then after some number of inheritances (dependent on the ratio of your proposed stamp duty increase compared to normal inheritance tax rates) it will still be a net tax reduction, meaning it would remain an efficient way of avoiding tax
@aaroneus5479
@aaroneus5479 Күн бұрын
Just for clarification on taxes on property. You pay stamp duty to buy property, then you pay capital gains tax if you sell the property for more than you bought it and you pay inheritance tax if you transfer the property to your children or grandchildren. All of these have thresholds but the thresholds have hardly changed to keep up with the increasing value of property.
@aceman0000099
@aceman0000099 Күн бұрын
You buy a farm in 2010 for £2 million, paying stamp duty, ypu die 35 years later and pass on the farm now worth £18 million, your son then sells it a few years later and gets 20 million. The problem ive illustrated is inflation which the initial purchase tax doesn't quite follow.
@JulianDulay-m8t
@JulianDulay-m8t Күн бұрын
British agriculture had been in decline ever since the late 1800s, when cheap, abundant grain from Russia and North America swamped the British market. It's one of the biggest reasons why Britain has been so reliant on importing food that Germany twice attempted to starve the UK by sending submarines to wreak havoc on British shipping.
@dragon09001
@dragon09001 Күн бұрын
"right wing conspiracy theorist's" what?
@BenExell
@BenExell Күн бұрын
The ones who think the country side is being ethnically cleansed for immigrant towns. Thats a right wing conspiracy.
@faircomment1841
@faircomment1841 Күн бұрын
Think he means the Daily Mail, The Sun and GB News and those who support them.
@johnpower29
@johnpower29 Күн бұрын
What would you call the people saying this is all part of a plan to force farmers off their land so that 'immigrant towns' can be built in their place?
@TheBlueGuard
@TheBlueGuard Күн бұрын
The whole "ethnic purge" thing. It's a depressingly common right winger thing to scream about how we're going to get replaced by whatever type of foreigner is in the news at the moment. Go back seventy years, and they were screaming their heads off about Jamaicans coming to the UK, but lo and behold the Jamaicans have yet to take over the country despite three-ish generations.
@C.I...
@C.I... Күн бұрын
@@TheBlueGuard Olukemi Olafuntu Adegoke is leader of the Conservative party. This is normal.
@turmunkhganbaatar2515
@turmunkhganbaatar2515 Күн бұрын
People are seriously saying Starmer is Stalin and is doing "dekulakization" 😂😂😂
@Gridpipe
@Gridpipe Күн бұрын
Yeah it's clearly corporate feudalism not communism. Blackrock ftw.
@blackaua
@blackaua Күн бұрын
He literally is.
@CroissantMoon
@CroissantMoon Күн бұрын
​@@blackauacry more billionaire bootlicker
@Grimfang999
@Grimfang999 Күн бұрын
​@blackaua Yes because making the wealthiest farms whose net worth is over £3million pay half the normal amount of inheritence tax is equivilent to the deliberate state massacre of the percieved leaders of agricultural towns in the USSR. Get a grip.
@BOZ_11
@BOZ_11 Күн бұрын
@@Gridpipe dont forget BlackStone.
@The_minion1
@The_minion1 Күн бұрын
The argument that farmers just cant afford it is just down right disrespectful in my opinion. The average UK Citizen has struggled with tax for years and made it work, non farmers who dealt with inheritance tax if they couldn't afford it would have to sell part of the estate, Weather you like it or not most farmers are millionaires. Their assets exceed 1 million, They have had god knows how many subsidies. We regular people struggle with normal tax, why is it fair for them to get subsidy after subsidy and also be except from tax
@cmmndrblu
@cmmndrblu Күн бұрын
But they farm. The assets they hold can be liquidated- but that's only likely if they sell it to developers. The problem is what was started in '84 with land prices. Most of the value is farm equipment, land and their homes. Their homes and jobs are tied together. So, this will bankrupt many farmers - who produce food. It just seems very odd to me.
@BeachandHills-hb2pq
@BeachandHills-hb2pq Күн бұрын
Your ancestors were all farmers 100 years ago. Your a city dweller becouse your Grand Father said he would do so much better than his brother farmer. You doing better than your couson farmer? Just becouse your doing worse than your 5th couson who stayed looking after the cows. Them death taxing us all is Good? Tax the serfs LOL. They are taxing you when you die and saying its Good. Bow to our Glourious Leaders 😀
@あいはら恆秋
@あいはら恆秋 Күн бұрын
Because farming is essential to the economic security of the nation, a lesson we learnt during the Second World War, when the whole nation had to be regeared to produce enough food to feed the people of these islands without imports. Farming is subsidised for a reason. Once the infrastructure that produces our food is gone, it will be near impossible to rebuild. Build housing estates on prime agricultural land, sold to pay an inheritance tax bill. Do you think that land will ever return to cultivation? Never.
@The_minion1
@The_minion1 Күн бұрын
@ and why do you think that land is so expensive? The land was hiked to an all time high when the Inheritance tax was removed as millionaires were rushing to buy land to avoid paying the tax
@Pentagathusosaurus
@Pentagathusosaurus 14 сағат бұрын
Multimillionaires don't like the idea of paying inheritance tax, aren't we all shocked? I'm not sure how so many British farmers manage be to so inept that they apparently earn nothing, whilst tenant farmers who don't even own their land or house and have to pay rent on these somehow manage to make a profit healthy enough to pay rent and to support their own families. I guess the landholding farmers must be giving the crops away for free since they're such saints :)
@calahoon22
@calahoon22 Күн бұрын
It seems like such a low number if you're trying to tax the richer farmers or property holders. Why not start at £3-4 million which is only going to affect the real top rich land owners who are trying to avoid inheritance tax if you're trying to make it fair?
@lexiedennis9991
@lexiedennis9991 Күн бұрын
As I understand it, this tax is indeed for farms over £3m. A non farming couple leaving their main residence to children has a combined tax threshold of £1m already; this allowance is extra, which apparently means a farming couple will end up with a tax threshold of £3m total before 20% tax is paid.
@jjefferyworboys8138
@jjefferyworboys8138 Күн бұрын
@@lexiedennis9991 Well explained, sadly most KZbinrs blindly believe what others with an agenda tell them.
@thegeekhome8933
@thegeekhome8933 Күн бұрын
Personally I think all farmers should just go see a psychic and figure out when they are dying so they can hand over their farms seven years in advance. Problem solved. Or maybe this is why Labour wants to legalise assisted dying?
@SaintGerbilUK
@SaintGerbilUK Күн бұрын
Underrated comment 👍
@TheMisterNebo
@TheMisterNebo 24 минут бұрын
The damage that this bill has caused has already done damage, EVEN if it it repealed - some farmers would have said "I've had enough" so damage was already done - and for that, the person in charge should go to jail.
@stuartbh8165
@stuartbh8165 Күн бұрын
That Jeremy Clarkson quote genuinely made me need to take a moment. Nothing could make me oppose this protest quicker than hearing it was encouraged by a statement as heinous as that.
@红太阳-z2m
@红太阳-z2m Сағат бұрын
Clearly you’re not very smart then
@ajh420
@ajh420 Күн бұрын
‘Right wing conspiracy theorists’ bias much? 😂
@kb4903
@kb4903 Күн бұрын
Clarksons not a farmer. Do people think he does 15 hours days in summer? No way.
@riddlerandsa8161
@riddlerandsa8161 Күн бұрын
Exactly. But he is VERY interested in not having his kids pay inheritance tax on the farm(s) he bought.
@SDDT24
@SDDT24 Күн бұрын
I mean that’s just isn’t true , despite him not being the primary farmer of his land he clearly does work there essentially every day
@blablup1214
@blablup1214 Күн бұрын
So an old man has to do 15 hours a day just to still count as a farmer ?
@kb4903
@kb4903 Күн бұрын
@@SDDT24 You must be joking. He has a dozen full time staff. Any income is peanuts compared to amazon payments. Hes in his 60s and unhealthy too.
@kb4903
@kb4903 Күн бұрын
@@blablup1214 Well in this situation any person owning land to avoid tax seems to call themselves a farmer.
@Donutgames00
@Donutgames00 Күн бұрын
It’s stupid to tax NON LIQUID ASSETS.
@Beatrice-t4f
@Beatrice-t4f 20 сағат бұрын
Hallelujah!!! I'm favored and blessed with $60,000 every week! Now I can afford anything and also support the work of God and the church.
@RichardShaneFoster
@RichardShaneFoster 20 сағат бұрын
This is what ROSE M Elaine does, she has changed my life.
@Beatrice-t4f
@Beatrice-t4f 20 сағат бұрын
After raising up to 60k trading with her, I bought a new house and car here in the US and also paid for my son's (James) surgery. Glory to God.shalom.
@Olivia-r3k
@Olivia-r3k 20 сағат бұрын
I know Rose M Elaine , and I have also had
@Noah-n7z2d
@Noah-n7z2d 20 сағат бұрын
Absolutely! I have heard stories of people who started with little or no knowledge but managed to emerge victorious thanks to Rose M Elaine
@JoshuaBrockJerry
@JoshuaBrockJerry 20 сағат бұрын
what’s her contact information?
@phileckersley
@phileckersley Күн бұрын
Right wing conspiracy theorists? You've left yourselves down with this one.
@Seeker7172
@Seeker7172 Күн бұрын
If you really think the government, which to you guys is somehow simultaneously competent and dangerous and incompetent and run by idiots, is going to turn the Cotswolds into a slum town for migrants, you are too lost in the sauce to see sense.
@ivancho5854
@ivancho5854 Күн бұрын
Absolutely. Unbiased or prejudiced - choose one.
@EdLeslie-h4w
@EdLeslie-h4w Күн бұрын
A great source of farming information is Harry's Farm.
@Silverchapp
@Silverchapp Күн бұрын
Oh my god you are taking the side of the government on this?
@0x00ak
@0x00ak Күн бұрын
did you watch the video..?
@matthewhart9610
@matthewhart9610 Күн бұрын
Of course, it's a Labour government.
@chris6ix.
@chris6ix. Күн бұрын
Well yeah, he's a socialist, and his dream party is currently in power.
@LightningStrikeify
@LightningStrikeify Күн бұрын
Could just ya' know... offer up dealing with Brexit woes that cost farmers waaaay more? What? Farmers and rural areas voted in majority for Brexit? Huh.
@SDDT24
@SDDT24 Күн бұрын
Tbf farms all over the continent are not in any better shape , protests in France Netherlands Germany etc so it’s not like the grass is greener on the other side
@holysword876
@holysword876 Күн бұрын
Like children we need to take extra care of them even if they do make mistakes. Its a sad truth but even if they voted to basically f*** themselves, the UK government still needs to defend the farmers.
@holysword876
@holysword876 Күн бұрын
@@SDDT24 Agreed but UK farmers have it much worse atm. But yeah I think the general trend is farmers always tend to get shafted.
@blackaua
@blackaua Күн бұрын
@@holysword876 The UK Gov is literally fucking them over, what are you on about?
@BitCrafted
@BitCrafted Күн бұрын
That’s a fallacious argument. Brexit has hit farmers badly for two simple reasons. The main reason is excess red tape means it’s much harder to get their goods exported to the uk’s largest food export destination the EU. This means it’s more expensive to export to the EU and not as much can be exported as demand reduced for uk produce in the EU. Other reason is that since less skilled hardworking farm workers can come to the uk and work on farms there has been a big labour shortage in farming and of course this causes all kinds of problems including reduced profits for farmers. Uk people haven’t really filled in the lost farming jobs because they’re hard work, remote and still relatively low paid even if an increase in demand has lead to pay growth here. There are many other reasons why Brexit has been bad for farmers and consumers. We’ve now got more expensive and lower quality food riddled with more chemicals. Great 👍. The reasons for farmers protesting across some European countries are varied and sometimes strange. Unfortunately there’s not much correlation between what really negatively affects farmers and what they protest against. If there was there would have been much larger protests by farmers against Brexit than against a policy that leads to higher inheritance tax for about 500 of the wealthiest farms per year. Unfortunately a lot of farmers seem to be swept up by misinformation on social media and culture wars. There are farmers across Europe protesting against things like trade deals with other countries that will undercut farmers which is valid and similar to Brexit in a way but far less damaging and on a smaller scale.
@tyler-qr5jn
@tyler-qr5jn Күн бұрын
if running a youtube channel costs you that much then something is seriously wrong 7:25
@philiplawler4236
@philiplawler4236 Күн бұрын
This is one of the most insane things I’ve seen Britain do. Where will you get your food? France? Spain? They totally won’t over leverage you. America? When they’re about to kick off a triad war?
@keifer7813
@keifer7813 Күн бұрын
Me: "Man, I'm really out of the loop here. What's all the fuss about? Would be nice if someone could just break it down without going on a yap fest, and giving me the different perspectives while trying to remain neutral" TLDR News: "I gotchu fam" Everytime ❤👏
@yookalaylee2289
@yookalaylee2289 Күн бұрын
Clarkson’s thinly veiled greed
@jannisarie
@jannisarie 19 минут бұрын
Large corporates should have to pay inheritance tax at an average of how ever many years a farmer runs a farm.
@Slider5320
@Slider5320 Күн бұрын
The upper tax rate is 45% compared to 90% that it used to be before the Thatcher Government. If they want more money, close tax loopholes holes for the super rich, and increase the tax, not target the little guy.
@EpictetusAuralius
@EpictetusAuralius Күн бұрын
Only way to close loop holes is flat rate of tax. Complex tax systems create surface area for loopholes.
@danburrill8716
@danburrill8716 Күн бұрын
If you're passing down assets worth over a million pounds, you are most definitely not the little guy. Half the country leaves no inheritance at all, and the vast majority of the rest are below the threshold for inheritance tax. Farmers will still get far more exemptions than any other groups (like 10 years to pay the tax bill).
@coatfarm
@coatfarm Күн бұрын
This IS them closing tax loopholes. And anyone with million pound assets is not the little guy.
@obiwanjabroniX
@obiwanjabroniX Күн бұрын
I agree, overall tax the rich. But farmers voted for Brexit, it's literally their fault.
@chronnyc
@chronnyc Күн бұрын
​​@@obiwanjabroniXThis is relevant to the EU exactly how? I am pro-EU market from Finland, but even I realise that the EU would only hurt british farming, and currently the oligarchs here are planning to bring in Ukrainian grain which would kill any farming in Britain.
@Pilps
@Pilps Күн бұрын
I dunno, £3 Billion a year sent to Ukraine being scrapped would probs help out a bit without hurting farmers and domestic food production?
@ProsecutorZekrom
@ProsecutorZekrom Күн бұрын
Sure, if you want Russia to feel emboldened to start war with Europe. They already view us as weak, this would seal the deal. Plus it would be morally bankrupt to abandon an ally whose national sovereignty is being violated.
@johnpower29
@johnpower29 Күн бұрын
The 3b isn't cash, it's older military equipment which is approaching it's repair/decommissioning date. It's cheaper to just give it away than it is to dispose of it.
@Pilps
@Pilps Күн бұрын
@@johnpower29 Thank you for the clarification
@kls1836
@kls1836 Күн бұрын
​@@johnpower29 why not sell it to a third world country while we are at it? It's old but still good enough for Russia?
@shellshockedgerman3947
@shellshockedgerman3947 20 сағат бұрын
​@@kls1836Because for the same price, third world countries can just buy brand new equipment with better tech.
@Beorn.
@Beorn. Күн бұрын
So, no doubt all our farmers will be labelled far right for protesting?
@alexandernico8930
@alexandernico8930 Күн бұрын
It’s the far left that will label anything normal as far right
@ozelotsoffunT-jz2rt
@ozelotsoffunT-jz2rt Күн бұрын
😘😘😢😢
@Bravo-oo9vd
@Bravo-oo9vd Күн бұрын
Did you miss the part where Clarkson says the government "wants to ethnically cleanse farmers to make space for immigrants and net zero windfarms"? If you don't want to be labled as far-right, maybe don't use far-right talking points?
@lazynolifegamer
@lazynolifegamer 21 сағат бұрын
@@Bravo-oo9vd are you stupid?!
@Chadrick2
@Chadrick2 20 сағат бұрын
@@Bravo-oo9vd So not wanting ethnic replacement is apparently far right now?
@eriktopolsky8531
@eriktopolsky8531 Күн бұрын
Go farmers go...
@God_is_a_High_School_Girl
@God_is_a_High_School_Girl Күн бұрын
Attacking your own domestic food supply is an ingenious move. Remember, the famine isn't a bug, it's a feature.
@ad_astra5
@ad_astra5 Күн бұрын
And why would they cause a famine?
@TheCommentor-
@TheCommentor- Күн бұрын
@@ad_astra5divide and conquer
@longiusaescius2537
@longiusaescius2537 Күн бұрын
@ad_astra5 Asset Rich Cash Poor
@VincentVance-j4w
@VincentVance-j4w 18 сағат бұрын
If some family farmers have to sell up because their farms are not profitable the land will be brought by investment farmers that will make it profitable. That isn't attacking the domestic food supply.
@longiusaescius2537
@longiusaescius2537 17 сағат бұрын
@@VincentVance-j4w 1)assuming they're not foreign investment 2) No they won't, they'll buy it and keep 40% or so around but not farming to jack up food prices on the other 60%
@harrynell515
@harrynell515 22 сағат бұрын
I don’t know a single farmer whose farm is worth less than a million. Even a tiny farm the size of 100 acres is worth a million at 10k an acre plus house and machinery.
@Franchise8-8
@Franchise8-8 Күн бұрын
I feel that the concept of a death tax is absurd. Those assets have already been taxed - the government needs to be incentivized to be more efficient with our funds.
@zax1998LU
@zax1998LU Күн бұрын
I think making the government more efficient won't save any where near enough money to fix any of our public services.
@rice4550
@rice4550 Күн бұрын
yes I agree the government shouldn't be spending billions on the military when we have no enemies
@longiusaescius2537
@longiusaescius2537 Күн бұрын
@zax1998LU auslander
@richardround2071
@richardround2071 Күн бұрын
It's not a death tax, youre not taxed, you're dead. People that benefit from a lump sum of wealth that they haven't earned pay the tax. Society is expensive, and needs taxes to run. I don't think people that work hard for their income should pay taxes on that, whilst people receive a lump sum of wealth through generic lottery, and then generate income from that wealth and pay less tax on that.
@longiusaescius2537
@longiusaescius2537 Күн бұрын
@@richardround2071 No more a lottery than a ticket to a hotel for being born in a non western country
@raquetdude
@raquetdude Күн бұрын
Tax avoiders aren’t the same as farmers. Farmers are socialistic (reliant on subsidies since the 1940s) they aren’t free market capitalists, issue is that the elite tax avoiders aren’t being signalled out.
@tommy9565
@tommy9565 Күн бұрын
Labour has forgotten its roots.
@matthewhart9610
@matthewhart9610 Күн бұрын
The only reason farmers are so reliant on the subsidies is that government (British and EU) red tape has gotten increasingly worse over the last decades. For a good few centuries Britain had a thriving farming industry until the bureaucracy got too big.
@humanperson8418
@humanperson8418 Күн бұрын
Notes: 0:30 If you start with the claim “Part of a plot to ethnically cleanse the countryside of farms to build new immigrant towns and solar farms” and not the arguments that got him there, make it much easier to dismiss those that agree as “right wing conspiracy theorists”. In fact, the term “right wing conspiracy theorists” already begins the videos with a biased framing against those that agree. For those that are curious, his reasoning is as follows: In order to pay the inheritance tax, farmers will need to sell their farms (this is a factual starting point) -> The only people willing to buy the farms are foreign billionaires and the government (This is also true. They're the only people with the money & motive to buy them) -> Foreign billionaires would use the farms as solar & wind farms (current subsidies make this far more profitable than farming and cost much less). The government would use these farms to house migrants (This is mainly speculation based on trying to predict the government's motives) It also doesn't help that an ex-Labour advisor said "do to farmers what Margaret Thatcher did to miners". 1:30 You glossed over what agricultural property relief is far too quickly. Without a deep dive into why it exists in the first place, how is anyone meant to know whether scrapping it is a good idea. The arguments for or against scrapping it are not enough; why is this tax exception even a thing in the first place? For those that are curious, most farmers have been on those farms for more than 3 generations (since WW2), and APR was made to encourage family farms by allowing cash poor asset rich farmers to pass on their property tax-free (the costs of assets scale to 0 generationally). Therefore, removing this would get rid of these generational family farms. I would argue that this is akin to a 'cultural genocide' but more importantly, will affect the cost of food. 1:37 £1 mill cap means nothing if I don't know the average cost of assets (for context, it's allot more than £1 mill). 1 tractor alone is worth £¼ mill. There are very few farms worth under £1 mill. 2:10 While true, this is a massive over simplification of their argument. 4:50 There are better ways to target the super rich. This targets your average farmer. 5:20 What if a farmer dies 7 years after the tax in introduced (farmers are an ageing population). £1.5 mill is still not much for a farmer. 6:00 HMRC is an estimate by the government. You can assume they're biased in favour of their own policies. According to the National Farmers Union (NFU), 66% of farms could be affected by the inheritance tax changes. 6:25 Assets != Money. This isn't based on the levels of taxes, but taxing farmers (the people that control our food). We can target billionaires using tax loopholes, without going after farmers.
@toppedtop5787
@toppedtop5787 Күн бұрын
Like you kinda glossed over what the condemnation is here. Its not of the bad policy towards farmer that just bad policy. But then for him to say that its to ethinically cleanse the country side(idk why you left that bit out) and to build immagrant towns. Is a far right conspiracy, its is a branch of great replacement, given more potency because its rural england which is romantasized by those types. Dodging around this remark, is not helpful. By starting off here theyve clearly given seperation between the legitimate problems with the policies which will harm farmers and more anti immgrant sentiment, which in the context of the summer roits needs to be highlighted. Even then most immgrant population are in the cities thats where the preexisting populations are. Like maybe you could have pointed out the housing crisis and maybe this is a scheme to get more developments built. Or the green energy one that seems at least more plausible. But nope immgrants yep its those damn immagrants again, soon youll be yapping on about the global cabal to. I swear genocide and ethnic cleansing is used so liberally these days. The worst thing about it is thats its completely unnecessary, its so dividing when people would otherwise be more sympathetic. Like 100% if they acatully wanted to get at the "rich" who are already fleeing they would be looking at banks, finicail sector and the loopholes they enable
@stupidminotaur9735
@stupidminotaur9735 Күн бұрын
yup
@BrianWillcox-qp2hr
@BrianWillcox-qp2hr Күн бұрын
Because they've been stopped from buying land specifically to dodge paying inheritance tax.
@velocirapture89
@velocirapture89 Күн бұрын
Ironic that a party that calls itself “Labour” would try to bankrupt farmers. 😢
@bernhardweich2617
@bernhardweich2617 12 сағат бұрын
They used to be the party of the working people, but now they lost that title when they moved to the centre of the platform. It’s a shame they are not following their priorities of their party’s platform. If maybe Jeremy corbyn was still leader and wasn’t kicked out because of rumours of antisemitism, mabey they would be a proper labour party This is just my thoughts on why they lost that title. They used to have proper labour politicians like Tony Benn and Clement Attlee but know they are ran by centrists I don’t know maybe someone have better explanations than me
@bernhardweich2617
@bernhardweich2617 12 сағат бұрын
And the fact the Kier starmer kicked out left wing members of the party further destroys its title as the party of the working people, which could be another reason why the Workers party of Britain was created to be a better Labour party
@Henners1991
@Henners1991 23 сағат бұрын
How are we supposed to become food self-sufficient when we seem set on importing 500k+ people every year while simultaneously squeezing the farms?
@lobsterboy2020
@lobsterboy2020 Күн бұрын
Inheritance tax is insane to begin with. Being taxed on income you were already taxed on, after your death, is bananas.
@lachlanchester8142
@lachlanchester8142 Күн бұрын
Well you’re not getting taxed if you’re dead
@SaintGerbilUK
@SaintGerbilUK Күн бұрын
@@lachlanchester8142 Except you are.
@lachlanchester8142
@lachlanchester8142 Күн бұрын
@@SaintGerbilUK well you’re literally not, it’s the money and possessions that are getting taxed and the person inheriting that has to pay the tax
@PhilS-ps7ck
@PhilS-ps7ck Күн бұрын
The dead person is not getting taxed. Their heir, who has never, ever paid tax on this sudden, huge, unearned income, is the one paying inheritance tax.
@tommy9565
@tommy9565 Күн бұрын
It is the reason the country is no longer littered with an elite living in downton abbey style estates. It has its purpose.
@beancole
@beancole 19 сағат бұрын
A 400 acres of Grade 1 arable land farm is 6 million (not including the house, barns, or farm equipment). 400 acreas is enough to support 1 farmer.
@benpriest1418
@benpriest1418 Күн бұрын
It's not fair at all. Farming equipment is expensive Land is expensive They're working to produce OUR food, not for themselves and we're punishing them for it?
@jamesthomas4841
@jamesthomas4841 Күн бұрын
Farmers not working for themselves. i have heard it all now.
@benpriest1418
@benpriest1418 Күн бұрын
@@jamesthomas4841 go and be a farmer then if it's that easy and there's millions to be made
@tobos8909
@tobos8909 Күн бұрын
​@@benpriest1418So you believe it's fair that farmers pay zero tax while everyone else pays some tax?
@benpriest1418
@benpriest1418 Күн бұрын
@@tobos8909 you don't think farmers pay tax?
@tobos8909
@tobos8909 Күн бұрын
​@@benpriest1418*In the context of inheritance tax
@RamsesTheFourth
@RamsesTheFourth Күн бұрын
"Hand over assets at least 7 years before death" Who came up with that rule?
@jjefferyworboys8138
@jjefferyworboys8138 Күн бұрын
The Inland Revenue but it's not as simple as it sounds, there are conditions. Always get professional advise.
@DiscoCol
@DiscoCol Күн бұрын
Not like TLDR to do a party political broadcast for the Labour Party, but once you have finished watching Ben fawn over Rachel Reaves you might to well to head to the Harry’s Farm channel for a bit of balance.
@Hildreth1101
@Hildreth1101 Күн бұрын
Weird we spend 2.3billion in subsidies for Agriculture yet changing this tax law.
@ASBO_LUTELY
@ASBO_LUTELY Күн бұрын
Government attacking the wrong people again, absolutely disgusting behaviour!
@spacetime3
@spacetime3 Күн бұрын
So when the Gov does attack the rich or Corporations are you going to say there also attack the wrong people? who is the right people?
@stephfoxwell4620
@stephfoxwell4620 Күн бұрын
@@ASBO_LUTELY What ? 120 multimillionaire landowners each year.
@MrHighRaw
@MrHighRaw Күн бұрын
You mean the government shouldn't tax the rich?
@SaintGerbilUK
@SaintGerbilUK Күн бұрын
@@MrHighRaw £27k per year isnt rich. Thats the average farmers income.
@PhageTheFinalCure
@PhageTheFinalCure Күн бұрын
​@@MrHighRawfarmers aren't rich, their take home salary each year is about £10,000 less than the average UK salary, they are by definition poor. They have land which they farm, the land and agricultural buildings are worth a lot, but that's the requirement for the job, that not liquid money they can handover to the government for inheritance tax. They would have to sell the farm to pay the inheritance tax, at which point you can say goodbye to small local farmers and hello to large corporations who won't have inheritance tax issues.
@pauldolman7487
@pauldolman7487 Күн бұрын
Bringing farming land down in price could be linked to buying farming land to build more houses. Isn't building more houses a part of labours plan? Just a thought.
@jjefferyworboys8138
@jjefferyworboys8138 Күн бұрын
Land with planning permission dependant on where it is within the UK is worth 30 to 100 times as much as agricultural land.
@jasonw2356
@jasonw2356 Күн бұрын
Why should farmers have a special tax loophole ? Even with Labours changes (taking married and family property limits into account) farmers still only pay tax over £3M which is 3 times the limit for non farmers and at 20% which is half the tax rate of everyone else. They still have the "7 year rule" to hand over to descendants completely tax free.
@User1790-x2r
@User1790-x2r Күн бұрын
How about the crown not paying inheritance tax even though they are worth billions?
@ricequackers
@ricequackers Күн бұрын
Better yet, abolish IHT completely.
@babayaga6376
@babayaga6376 Күн бұрын
The question is...why is the inheritance tax a thing?
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