Robert
@fortherestless.bsky.social
Millennial 🫠
Woke remoaner 🇪🇺 🇬🇧
Nerd 🤓
Cat lover 🐈⬛
Wiltshire 🌳
❤️ - 🚙 💻 📷 🚈 🚌 ☕️ 🍰 📻 🌍
💼 - Local government - citizen digital services, websites, devops, Drupal, general IT engineer dogsbody
Woke remoaner 🇪🇺 🇬🇧
Nerd 🤓
Cat lover 🐈⬛
Wiltshire 🌳
❤️ - 🚙 💻 📷 🚈 🚌 ☕️ 🍰 📻 🌍
💼 - Local government - citizen digital services, websites, devops, Drupal, general IT engineer dogsbody
It has started. Fuck Zuck.
January 21, 2025 at 7:28 AM
It has started. Fuck Zuck.
Elon Musk crashed our all staff 'Colleague Forum' at work today. Wild.
December 9, 2024 at 10:20 PM
Elon Musk crashed our all staff 'Colleague Forum' at work today. Wild.
This Apple Music Replay ‘24 highlight is perhaps my greatest achievement.
December 5, 2024 at 1:27 AM
This Apple Music Replay ‘24 highlight is perhaps my greatest achievement.
Some perspective: www.bbc.co.uk/news/article...
![Paul Johnson, the director of the Institute for Fiscal Studies (IFS), an independent economy think-tank, told Sky News: "The changes will affect a remarkably small number of some of the most valuable farms."
He added: "[Farms are] still more generously treated, actually, than farms used to be in decades past."
The Treasury estimates that 500 estates including agricultural land will be affected by the agricultural property relief reform, external per year.
Dan Neidle, an independent tax expert, says the number of actual farms, external affected is likely to be below 500 per year.
There were a total of 462 inherited farms valued above £1m in 2021-22, according to HM Revenue and Customs (HMRC), external:
345 valued between £1m and £2.5m
80 at £2.5m to £5m
37 above £5m
Under the new rules, those 462 farms would be affected by the 20% inheritance tax on any value above £1m (not on the whole value).
However, as Mr Neidle points out, like for the rest of the population, there is no inheritance tax to be paid on the value of property up to £325,000, bringing the untaxed total to £1.325m.
If a farmer is married, his or her spouse would be able to pass on another £1.325m tax free, taking the total untaxed amount to £2.65m.
There were 117 farms valued above £2.5m in 2021-22, according to the HMRC figures, external.
In addition, there is an £175,000 tax-free allowance on a main residence when it's being passed on to children or grandchildren. This brings the total untaxed amount for a farming couple to up to £3m.
Steve Reed, the secretary of state for the environment, food and rural affairs, confirmed the "vast majority" of farmers will not be affected by changes. Writing in the Telegraph, external, he said "only the richest estates will be asked to pay".](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:hafbrtxat3sf7434r3itlw2m/bafkreiagqd4bmh5fkpsubedeb4i2dg6hkbxbw4exfumyggklrnxxi3z4ny@jpeg)
November 19, 2024 at 11:52 AM
Some perspective: www.bbc.co.uk/news/article...