Inheritance Tax for High-Value Farms
This is a Riverford news story, published by Guardian, that relates primarily to Guy Singh-Watson news.
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inheritance taxGuardian
•I’m a farmer – and I’m glad to see tax loopholes closing for cynical investor landowners | Guy Singh-Watson
79% Informative
Labour has reintroduced 20% inheritance tax for farms that are valued at more than 1 m.
Children of farmers will no longer inherit land tax-free.
Farming families have not had to consider tax planning for family succession since 1992 .
Farming is a long-term business that requires substantial assets and often makes only meagre returns.
Guy Singh-Watson is the founder of the organic veg box company Riverford .
He grows organic vegetables on 60 hectares ( 150 acres ) in Devon and 120 hectares in the French Vendée .
He sold Riverford in 2018 to its 1,000 employees, and the company is now 100% employee-owned.
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