No tax change is perfect, as systems can never accommodate every circumstance. The recent inheritance tax changes have upset several farming families by imposing a new 20% rate.
The argument for a higher threshold of the £1m inheritance tax change gains credibility when considering the actual diversity and average size of farming operations.
Tax rises were unavoidable due to public service demands. It was justifiable for agricultural businesses to begin contributing to taxes, especially to prevent tax avoidance.
A more targeted taxation should focus on larger, wealthier landowners rather than impacting struggling farming families who may face challenges in adapting to the new tax rules.
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