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jim 99
Professor Tim Wilson
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Comments by "jim 99" (@jim-es8qk) on "the farmers' protest" video.
......if a farmer is waiting until he is dead at 80 plus years old to pass on the farm to his son, who is probably now in his 60s, something has gone very badly wrong in that family. Im from a farm old farmers holding onto all the power is destroying the industry.
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They can pass it on tax-free over 6 years like any other business. It is how they got around inheritance tax in the past. This law only appeared in the 90s under John Major to stop large estates going bust.
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Farmers didn't suffer from Brexit. The pound crashed and they made record profits.
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johnslavin2270 The seven years rule still exists. It is how my dad got the farm off my grandad in the 70s. The inheritance tax exemption everyone is discussing only came into law in the early 90s.
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