Budget

[DaveDCB]

Liable for CGT ?

Cant charge CGT if there is no gain

Other bonus is you can ‘sell’ all equipment to the company at market value , mark is as a directors loan so no money needs to change hands, and just repay your directors loan over the next 20 odd years, at least you’ll get some personal money back out of the new company.

 

[6feetdown]

VED on new vehicles next April!
Scroll down for the figures

Car tax band changes mean some drivers will pay up to £5,490

The Government has announced it will increase standard Vehicle Excise Duty (VED) rates for cars, vans and motorcycles in line with inflation

www.walesonline.co.uk

 

[JD450A]

Devils advocate here... like it or not you never see a poor farmer, and it's a closed shop.

Perhaps this might allow some new entrants?

I know poor farmers, I know rich farmers and I know farmers that appear to be doing unbelievably well who work 18/7/365 doing the farm and outside jobs to pay mortgages for the expansion of farms.

The IHT for farms is a joke...... Namely because it's abused by multi millionaires who seek a tax dodge for the next generation. That hasn't changed. Richy Mc Rich will still buy a farm and be a "farmer" because it's a desirable life choice and still comes with tax benefits.

The only way to nail it fairly is do do it on land size.... To me 150 acres is workable as a farm if your actually in it to farm. Lots will disagree, but my grandfather grew up on around 50 acres and it supported a family of 5.

150 acres per person..... So if Dad has a 300 acre farm and two kids they don't pay IHT..... It's fair, effective and protects farming, each 150 acres gets the properties connected to it, farm hedge and have 2 workers cottages that the workers live in? They are farm buildings..... No IHT.... But as a minimum, farmhouse, farm buildings and 150 acres. If you can't succeed with that start then No, you don't deserve to be farming.

 

[DaveDCB]

Your talking about traditional dairy farming Rory? And yes I 100% agree for that scenario 150ac is a decent size to make a living off, but it’s still a killer, hard to employ someone to split the 16hr days with and be left with much at the end for your investment.

 

[DaveDCB]

Also 150 AC and farmhouse is circa 3.5million around here, plus about 500k of kit to get you going.. you’d have to be insane to setup to be a farmer, they only exist through generational pass down.
I understand why it’s been implemented as rich and famous are buying up huge estates to dodge IHT , clarkson himself said that’s why he did it! He only ‘farms’ it himself as it made good tv!

 

[Lancs Lad]

Watch the stock market today...

 

[DaveDCB]

Ps did everyone know that currently farms don’t have to pay IHT on the main farmhouse….? I do think that part is very unfair , maybe that would have been a better baby step for the gov to bring in. The likes of Beckham/clarkson etc will all claim the ‘Farmhouse’ is part of the farm thus can’t be taxed..

 

[JD450A]

Your talking about traditional dairy farming Rory? And yes I 100% agree for that scenario 150ac is a decent size to make a living off, but it’s still a killer, hard to employ someone to split the 16hr days with and be left with much at the end for your investment.

I'm talking all farming.

Arable is profitable at scale.... The scale also brings significant negatives to rural communities and economies. Be it larger farm machines causing damage and disruption to sediment run off from fields and the like. A large arable operation will employ a barebones of staff so less into the local economy.... There's a reason multi millionaires don't buy dairy farms....

You can't have your cake and eat it and arable at scale is profitable..... Mixed farms done well can be consistent earners as can dairy, BUT it's significant graft.

A 300+ acre arable farm could still survive and function as one among two people.... I.e my son and his wife get 150 acres each providing the recipients are actively farming....

 

[DaveDCB]

Written like a professional student Agreed on all points

 

[Lancs Lad]

I'm talking all farming.

Arable is profitable at scale.... The scale also brings significant negatives to rural communities and economies. Be it larger farm machines causing damage and disruption to sediment run off from fields and the like. A large arable operation will employ a barebones of staff so less into the local economy.... There's a reason multi millionaires don't buy dairy farms....

You can't have your cake and eat it and arable at scale is profitable..... Mixed farms done well can be consistent earners as can dairy, BUT it's significant graft.

A 300+ acre arable farm could still survive and function as one among two people.... I.e my son and his wife get 150 acres each providing the recipients are actively farming....

Show me your vegan lunch

 

[DaveDCB]

Show me your vegan sausage roll

No-one wants to see that!!!

 

[JD450A]

Show me your vegan lunch

Open forum so I can't post photos of that to continue a very poor joke.

My foot well is definitely not vegan..... Alas I find Heineken is all I can drink these days without suffering my neck swelling up. So forgive me for that sin.

 

[Monkeybusiness]

Open forum so I can't post photos of that to continue a very poor joke.

My foot well is definitely not vegan..... Alas I find Heineken is all I can drink these days without suffering my neck swelling up. So forgive me for that sin.

So many questions!…
Is the pink strap attached to a hidden handbag?
You obviously have a decent immune system judging by your toothbrush storage!
At least you are getting one of your five a day and plenty of vitamin C with the chocolate orange, keep up the good work!

 

[6feetdown]

On the fence with supporting Labour this 1

x.com

x.com

 

[V8Druid]

be nice to see a few 45t Tachi's roll/chew up the mall

Government loses the plant hire sector

Diggers could soon be joining tractors demonstrating in Parliament Square, judging by growing anger and despair across the plant hire world.

www.theconstructionindex.co.uk

 

[Storrsy]

Open forum so I can't post photos of that to continue a very poor joke.

My foot well is definitely not vegan..... Alas I find Heineken is all I can drink these days without suffering my neck swelling up. So forgive me for that sin.

Good to see you've had a clear out. Last time I saw you I couldn't get in it was that bad

 

[JD450A]

Good to see you've had a clear out. Last time I saw you I couldn't get in it was that bad

Good to see your response time is just under a month

 

[V8Druid]

Builders merchants group to write to government expressing ‘grave concerns’ over inheritance tax changes

Trade body believes 20% tax hike could see SME merchants and suppliers scaling back their operations

www.building.co.uk