Tractor tax more likely to hit working farmers than wealthy landowners, think tank tells Reeves

According to a thought -out organization defending the controversial business policy, Rachel Reeves should dilute the inheritance tax raid on family farms to protect workers.

Taxation Analysis Center (CENTAX), which extensively supports an idea called ‘tractor tax’, warned landowners on the possibility of lar less affected by reform farmers working from reform.

The movement will increase the pressure on the chancellor on plans that critics can steal the death run for many family farms.

Changes mean that farms with £ 1 million or more will be responsible for 20 percent inheritance tax.

Treasury, tax allowances with only £ 3 million in fact that farms will be affected – about 28 percent of family farms will be affected, he says.

However, 66 percent of the official Defra figures can be shot.

The ministers defended the changes by saying that they had to make “difficult decisions öz after they said that the Labor Party’s last Torah government said that there was a black hole of £ 22 billion.

However, Centax said that despite Labour’s claim to protect employees, it is more likely that working farmers are more likely to suffer under politics.

The inheritance tax proposed two ways of reducing the inheritance tax, allowing 100 percent per property to be targeted up to the top 10 million pounds.

Furthermore, he proposed a “minimum share rule üzere to remove the inheritance tax reduction for passive investors in agricultural lands, so that they cannot be used as“ tax shelter ..

Last year, Minister Daniel Zeichner said that deputies introduced the government’s small wages protection plans.

“Currently, small farms may face tax invoices at the same levels, although they have a much smaller asset. Twenty -first percent of agricultural property aid is requested by 2 percent of the first 7 percent of the first 7 percent.

“This is not fair, not sustainable, and unfortunately, in some cases it was used by wealthy landowners to avoid the inheritance tax. Therefore, the government has announced its plans to get rid of agricultural property.”

Centax, tenant farmer property, 25 percent of the property, 45 percent of the property and 67 percent of the mixed term of office, compared to the property, only 20 percent of land-owned properties will hit the tax.

Centax said: “The possibility of the landowners to be affected by reform represents 64 percent of all farm properties, but 42 percent of the affected farm property.

METCALF-Fisher said from the rural alliance: “The ministers of the workers say that they want to protect the real family agricultural enterprises while struggling with tax avoidance through inheritance tax changes.

“However, evidence points to these families and farms, as to be very impressed by politics.

“There is still time to listen to experts from the farming sector and to rethink the policy before it is too late.”

According to the National Institute of Economic and Social Research, Mrs. Reeves is currently under pressure to find a hole of 50 billion pounds in the government’s finance.