THE GREAT DABATE... WILL INHERITANCE TAX RUIN OUR FARM!?
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- เผยแพร่เมื่อ 7 ก.พ. 2025
- In today's video Father and I answer the Question YOU WANTED ANSWERED. Inheritance tax, London protest, Arla milk and how did the ArrowQuip break!
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I love that chats around the kitchen table!! Hope you can do them on Sundays. Your sister is a star and really helped with my understanding. You have a wonderful family team!!!
The setting is fine, why change the habit of a life time, Dad in his seat, the kitchen is the heart of the home and farm. Great work in 2024 team!
Your parents must be so proud to have children that are just as passionate about the farm as you are
I think in many ways the issue isn't inheritance tax per say, we need to stop rich people buying up farms as an investment and supporting the family run farms and reducing this tax incentive is positive. The issue is that farmers are not paid a fair wage for the graft they do. If paid better inheritance tax becomes less of an issue because you can then afford it. It is after all an issue that does affect other lines of family businesses and therefore some parity does feel fair but arguably it exposes inheritance tax as not being fair on anyone really.
The main thing is we need to pay more for our food (or perhaps more to the point pay the middle men less) giving farmers a fair wage for the graft. The sooner the public appreciate this the better.
The problem is that isn't currently the world we live in so there are some farmers that will struggle with this. The govt need to solve the price paid as well as inheritance tax in tandem.
Well written and thoughtful answer, thank you
Exactly, the tax wasn't meant to penalise people like Tom who have learnt the right to inherit the farm, and was meant to discourage the super wealthy from buying land banks.
Unfortunately, the side effects of it as it is currently, it will hurt people who don't deserve to be punished.
Nobody or company should be allowed to buy up farmland as a form of investment. They same applied to homes, one home per person or couple and made retrospective.
All well and good, but all the middlemen outside the farm are definately not going to take any paycuts.. Its akin to the music industry, they give you a record deal, then you wonder why your hardly getting paid, if you complain the say well we can cancel your contract with us and you will get nothing and wont get any records at all.. If your not in control of your own buisness from top to bottom then your volatile.. Farmers are at the mercy of the middlemen, as long as you sell your produce to another buisness then your at the mercy of them.. This is the reason more farm shops are popping up... The farming industry as a byproduct of simply selling produce created a monster.. The middemen and supermarket... The real answer would be to cut down on distrubtion costs by forcing supermarkets to buy local, and where they cant source local then pay a better premium for imports.. This would drive them to source more and more locally to avoid the premiums which would give more farmers leverage to produce what they need locally..
Wishfull thinking on my part though.. The distrubition and markets are so well oiled now that they would pull out and stop buisnes altogether if it was no longer lucrative for them.. There too used to it.. The farmer getting screwed is the norm..
@@FormallyknownasE100 the issue is for arable farmers the commodities are traded and base price set globally. Western govs wouldn’t ban Russian wheat and still haven’t and it’s been undercutting the market for the last two years globally , and if you take this year it’s the worst harvest in 40yrs and the price goes down as the global commodity market has dropped and they can import it cheaper.
Love watching the Chanel seeing the land across the road I used to work on when it was cereals and spud ground many years ago. Brings back fond memories of working for different farmers and contractors growing up around the fylde. Another great video Tom love the q@a a very honest and balanced approach to the inheritance tax issue as well. Looking forward to what 2025 has in sore hopefully a calf shed and a machinery ahead . Please please move that feed bin. 😅 you should do a vote on it !
All the best for the new year 🥳
I agree with the Ginge on the final words. I think your farm has done very well. Good job to all who have worked hard to make it better!!
There are those of us outside of farming whget what you and the rest of the farming community do.thanks for the videos tom ,you and your dad are great ambassadors for the industry. Happy new year, take care and be safe, alex and Maria
Love Penny's perspective, unlike politicians, she actually expressed a clear and well laid out opinion
Anything around tax is a minefield
Your yield fluctuations is it tied into who does the feed mix, know Joe Seels is constantly mentioning keeping the diet constant, if you have to change it, change it gradually
A great update Tom, love this "Sunday video" style video with the ginger warrior
Wishing you both, all your staff, all the families and your followers a very Happy New Year
Looking forward to your adventures next year
Back UK Farmer's 🇬🇧
Geoff
What an interesting chat, thank you to the family for explaining. I'm from/ work in London and do care about how our food is produced and fair pay to farmers for their hard work, id like to see the MPs getting up at silly O clock to start a long days work or checking animals overnight. I now understand the inheritance tax much more, and look forward to further chats on this. ❤❤
Well done to all showing public about farming its very needed
Happy New Year to all of you on the Pemberton Farm and farmers all around the globe.Keep on Keeping on./Johan in Sweden
Have a very Happy New Year guys........ and to all that watch this amazing channel...
The old boy with the tash is clearly so proud of the young boy with the tash! And rightly so another good year of growth keep it up everyone! We know times are going to get harder but hopefully the ppl who bk farming and there products will keep you all going 😢best of luck going forward
I live on the Oregon coast a wetland butts up against my backyard...We have had storm after storm of heavy rains. Our street has been flooded more than usual.. The other day we had high tides and someone thought a water main broke.
Insane rain..Some say its always like this in the winter...
No its not...
Yes...give Thomas and the girls whatever is allowed for maximum land gift allowed yearly..
Its happening world wide..
Government over reach. Taxing the heck out of everyone..
Best of luck to you and your family. This political atmosphere is ruining our world. I thought about your family with all this animal control thats going on .. They want control by hook or by crook.. "COW FARTS" 😅
Unbelievable isnt it !!
Happy to hear you, your family and animals are doing well..
Been tuning in for years...
Tom is doing a super good job.
Heres to a prosperous New Year.. 🍻 cheers
🙋🏼♀️🐈🦮
Thank you for all your hard work. We all need our Farmers. xxxxxxxxxx
Because of inheritance tax my parents gave my sister and I the maximum gift allowed in land every year. By the time my father passed, my sister and I owned most of the ranch. My Father was a very wise man
Excellent...
And if you die suddenly?
This needs everything to go to plan. What if you are married and get divorced? Do half your assets disappear in the divorce settlement?
My grandparents did the same thing for my brother and I, and after I got married and had children they had accounts for them as well.
If you buy the farm from the the estate would that lower the tax?
Really enjoyed the inheritance tax talk, our household is has thoughts both ways and was good to have penny input too! You can always be relied on to give balance think it’s one of the many reasons your so successful, no drama 😉
I liked the part when you said "yes, we feed you, but we also do it for a profit". I think it's a fair thing to acknowledge.
I have watched your channel for a couple of years now & never made a comment. I stopped your dad in mid talk of inheritance taxes. I 1000% percent agree with him!!! Both myself & my wife have created a farm that we want our kids to have. Why must I be taxed to create, taxed to have, taxed to die & my kids taxed to receive what I’ve created? My granddaddy always said, you have producers & consumers. The producers are the only ones to pay for everything!!
Sorry, for the rant. Please have a blessed New Year!
Why are you any different to anybody else? Level the playing field and make everybody pay equally - including the big companies.
Great vid as usual. Happy New Year Pemberton family.
Hello, wishing the Pemberton family a very Happy New Year, followers too. Looking forward to visiting you throughout 2025 and giving my support through purchases in the Farm Shop. xx
Thanks Tom and all the family for all your hard work which is mostly done for the benefit of others. It is very much appreciated. Happy 2025. X❤😊
262nd! I wish Tom,Luke, Hiedie, Anna, Hanna and the ginger warrior with a mustache,along with everyone else who helps on the farm a HAPPY and SUCCESSFUL,PROFITABLE NEW YEAR! Roger in Pierre South Dakota USA
Great video, rational discussion and views from people in the front line and working the work. Let’s look forward to the Government and actual Farming Families working together to reach a balanced mutual outcome 🙂
Happy New Year! 🎊 love the working chats around the kitchen table in the heart of the home, good talk about the business side of farming - not some artificially set studio or office. Another nice idea that would be a good chat time could be a small coffee/tea break picnic table under cover, maybe with the cows & calfs in the background somehow. A much needed break and a farm chat ☕️ 🐄
Hi Tom. I hope you and your dad find the solution to all the problems on your farm. Thank you for sharing but its yr farm at the end of the day. And only you know whats best. And how much money and time is being spend in all . Have a blessed and wonderful New year to you and your family and crew on the farm. Happy cows equals happy farmer.
What a very sensible discussion on the current hot topic in the ag sector. Generally speaking farmers need to professionalise their businesses, just as you have done Tom. Start succession planning early, get great professional advice, get on with the job.
Keep up the good work in 2025, HNY to you all.
Love Mr. Ginger and Tom’s bond. Epic!!!!!! Tom enjoy that because that’s rare in today’s world. Make sure to make every day memorable as well because age goes by so fast and the wish I should’ve done can’t be rewound. Time only saying the last part due my dad getting diagnosed with dementia/parkinsons and the rapid decline beyond fast. I’m just a little older than Tom.
Hope you and the whole entire family have a Happy New Year.
Really enjoyed that, really appreciated all the views. Liked your appreciation of your staff and of course Tom.Might be an idea to get a contractor in to carry out some umbilical slurry work to see if it’s a goer and worthwhile investing in that equipment.
This sounds daft but I personally would not mind paying a little extra tax myself as long it wasn’t a huge increase and it was being professionally audited for value for money because I am concerned of a melt down in agriculture and what that would entail.
I would also like to see money being spent on other aspects of society such as roads, policing education etc, but again must provide value for money.
Wishing all at Pemberton’s a happy and prosperous New Year.
Enjoyed the chat around the table. Happy new year to you all 🎉
A very good family discussion regarding inheritance tax Tom. Your dad is a gem.
I liked this, nice to see your sister!!
Happy New Year to all your family - this was fascinating & your sister needs to appear more in your videos with that knowledge. This is the unseen side of farming us ‘Joe Public’ need to understand & appreciate more
I really enjoy the table heart chats. A Prosperus New Year to you all. 👍👍🇬🇧❤️
Loved the video and hearing how the business end of things come together, what you have to factor in and how it all affects the farmers/growers of our food. I’ve been watching your farm grow and develop for a while and have enjoyed every moment. It’s been incredible. Happy New Year to all the Pemberton family and all the team of workers that work alongside of you. Thanks for such a great 2024! May 2025 bring many good blessings to each of you. I look forward to 2025 and seeing the happenings and adventures of Pemberton Farm Life. ❤❤
Happy, healthy & prosperous New Year to you, your entire family & all of your farm workers, from Vancouver, Canada.
Hi tom and your dad and penny, I think your Q&A are great.
The IHT Tax is holding investments back, as farms are holding back investments and this is before any tax is paid, and not good for the economy.
Have you thought about doing your own ice cream, or a restaurant on the farm.
John from cornwall.
Happy and prosperous new year
To the wonderful staff and family members of Pemberton farms ❤
Happy New year to you and all your family plus all of your staff 🎉🎉🎉🥂🥂
Great video I do not live in England I grew up in southern Ontario Canada on a family farm till my Mom got sick then we moved off the farm like you said you have to keep growing if you want to stay in the family farm I do not know if it is the same there but here the small farms are being bought out by the large farms here costs are getting stupid for small farmers even trying to buy equipment for a small farm is getting harder because manufactures are gearing towards large farms. Once again good video.
Good discussion. Sending wishes for a Happy, Healthy, prosperous New Year. Much love from Georgia US. ❤
Spot on labour are out touch you sister should be in the government happy new year 🎉🎉
Enjoyed the Q&A round the kitchen table
Hats off to you to the nuanced debate within your family about the inheritance tax……make a great change to one sided arguments. Definitely feel its a tough change for farmers though and probably doesn’t effect the rich people that are using agriculture as a tax haven as much as it does the small family farms
Very clever sensible man is the warrior
Pity this Government did not give " active farmers " a Tax exemption on inheritance Tax so those that the investors in land pay the Tax not the actual farmets ?
My wife's Uncle still farms at 87 but last year his great nephew sadly died aged 35 of a massive heart failure , so if he had gifted the farm to him , he could have been in a very awkward predicament. Death duties can be so unfair on those left behind. Heaping misery on tragedy.
Stay safe and well to all the Pemberton Clan and wishing you all a happy and prosperous New year.😊
Genuine farmers are paying the cost of millionaires buying land as a way to avoid tax. People like James Dyson and Jeremy Clarkson aren't farmers, they bought land to pass on to their children.
The same happened with forestry years ago, popstars bought land and planted fast growing pines for government subsidies and tax breaks.
It's wrong that family farms are the ones that suffer.
I quite honestly don't know the answer but there are some suggestions in the comments already that might help.
The answer is simple - only tax the farm if the next generation sells it. simple.
@@JP-rv6hg
Not sure about the UK, but in the US rich folks would just constantly buy land to pass down, their descendants would borrow against it when needed, and never pay a dime in tax.
This increases the price of farmland and pushes out actual farmers or forces farms like the pembertons to pay even more to rent land. This also pushes more of the tax burden on to people like you and me, who don't have the resources to hide our money in tax free assets.
Not sure about the best solution, but society does need A solution to make sure everyone contributes.
@@ianbacon7415 thats more or less exactly whats happened here, land values are artificially inflated by the inflow of money from people avoiding tax. It makes it harder to get into farming, harder to keep farming and makes it more likely a farmer would have to pay IHT under the new system. Because real farmers make very little for the huge amount of work they put in and the high value if land makes it far more likely they would pay this tax it feels terrible. But as you say, the best solution is difficult because we are now so far down the line of inflated land prices its going to be the actual family farm hit hardest
Love these Q&A’s with Tom and the Ginger Warrior!! Penny’s input was terrific!
Happy New Year to you all, Great Q&A especially Penny's input
How many brothers sisters do you have tommy great to see a kid outside enjoying himself doing kid things
Have a very happy,healthy and prosperous new year!
We made our own slurry umbilical system using an old mobile irrigator and a pto slurry pump. The irrigator cost £500, made its own dribble bar, and brought a new pto pump and plus the pipe to the irrigator, which could be another irrigator. To control, use a mobile phone or radio. you could empty your tank in a long day!! You could use the dribble bar off your slurry tanker
Happy new year to you and all the team on the farm
great video and some excellent answers! Hope y’all have a good week and see you at LAMMA - I’m going on the Wednesday
🎉🎉 HAPPY NEW YEAR TOM & GING AND ALL THE FAMILIES. HAVE AN AMAZING TIME 🎉🎉 ♥️♥️👍👍💯💯💯💯👍👍♥️♥️
I hope Kier Starmer gets a chance to watch this conversation because he needs to hear it from the peoples people who have the answers to make this change in the tax laws work. Keep banging the drum for our nation, more power to your elbow.
Communists like Kier will not listen to this, he has no understanding of what makes the world go around.
Even if he does watch this, he does not care about the farmers, he only cares for himself.
Sir Keir and his ministers DONT CARE about the farmers ,they want the land to pave over and force the country to rely on the EU . Starmers deep deep love.
Great video. Have a great new years .
Loved the segment with your nephew.
Another great video from the family, Happy New Year from Saskatchewan,to you all and the staff.
Hopefully catch up at Lamma 25
Happy New Year! Could you do a video with your sister being an accountant just on the Inheritance Tax and its implications and possible loop holes?! Being first generation sheep farmers with currently no owned land, only rented, we are now dubious about buying anything, especially as our teenage daughters are wanting to carry it on with us! It’s making us wonder if it’s worth trying to make our dreams become a reality now! Sad situation to be in, when we have worked so hard to get the few sheep we have! Thanks a lot! 👍🐏
Great chat with Dad as always Happy New Year great videos thank you 💕
Fabulous content as always from a very knowledgeable team. Keep up the good work and all the best for the coming year.
Happy New Year to you and all the family Tom! Good to see the Q&A's again :)
Great vid as usual.Tankers with a boom filling arm are great.Costly but work well and efficient.Donto know how filling points would work with your setup though 🤔
Once again a clear opinion from your family, great video . Really enjoying watching what you guys do on the farm, keep doing what you do team and all the very best for 2025.
hey I am watching this from San Jose, Califprnia at 10;00 pm on New &ears Eve. thanks I Love your vlog.
The Pemberton's gift of the gab does not fall far from the tree lol. Good informative conversations something your government should have had. :) :)
Fantastic Q&A tom, ginger worrier and penny .
Our 16 year old autistic son Aaron is a big fan of yours and wants to do farming but failed to get into college because of his autism but he love all your cows especially Tilly, he has traveled all the way from Cheshire to your farm shop and to get some milkshakes twice hopping to see you but you weren't around but he saw your goats .
He also likes your son Harvey and your dog moon xx we would like to wish you all happy new year from Tracy, Steve and Aaron
Hope those Pembertons give Aaron a tour and some time. It is likely to be very beneficial for an autistic young man.
Interesting well balanced Q&A, I enjoyed the show.
Really good talk .
Your inheritance is all on paper . I get it
All money tied up in the land . !
All about control .
Happy New Year Pembertons
Loved that you tried to look at it from different pov
Great chat and Happy new year!
I’ve been waiting for this video and as usual it’s very informative. Happy new year all.
Happy New Year Pemberton family.thanks for all the videos over the year
Thanks for the interesting conversation! I lurk a lot, but always love the kitchen table conversations with You and your Dad on various topics. As a non-farmer it helps me learn! Happy 2025 to you and yours!
Happy New Year to all your family thanks for all the videos over the year 👍👍👍
Happy new year Tom, Andrew and all the Pembertons. Wishing you all the best for a great 2025 and whatever it may bring XXX
Interesting video on the subject of inheritance tax which many of us as non farmers do not fully understand. Farmers are asset rich and cash poor. The following is a question and maybe naive, is it not possible to form a Limited company of the farm and family members are directors.
As regarding adding chemic into animal feed to reduce flatulence, would it not be better to reduce food imports and or transporting of food products from here to there for more processing and packaging to reduce the carbon footprint. this maybe a whole new debate. Thanks. and Happy New Year to you all
Wishing you all a happy and healthy new year! Be Well Be You
Penny gets away with calling The Ginger One Dad, Tom gets corrected to Father!!!!!
Your dad is so sweet.
Genuinely think an umbilical system would suit your farm amazingly. The dairy i was on used one we put a permanent pipe with hydrants at key points. Dont forget to factor inflation and costs the initial outlay for the main permanent pipe might seem big but rhe time of not going bacl to refil etc youll find its very cost effective we had 1 pump and it had a phone njmber to ring and turn on or off
Interesting insight. Happy New Year to you all! Good to see Penny.
All the Best Guys ..
Great content and energy as always. Look forward to 2025 and even more great videos. Hats off to all of you - Anna, Katie and Luke especially. New year greetings from Norway!
Very good tom
Just a suggestion how about onece a month a special q & a session ? Have people to txt in questions and have a preset date monthly to do it
Good video Tom, and Andrew lots of good thoughts going. Happy new year
Happy new year to you all !
Very good video Tom ❤ xx
Thank you Tom. Giving both side of the inheritance tax. Oli is very close to losing my subscription because I didn't subscribe to watch 10min video and 6 min being gbnews. I love your dad's chats. You have had a great year and keep it coming. Looking forward to 2025 😁👍👍
Wonderful entry. So cute
Happy New Year and best wishes for 2025 to all the family and all your viewers. Thanks again for all the great videos over 2024 including the good the bad and the laughs ! Hopefully more in the future.👍
Happy new year Tom, to you all your lovely family and your staff heres to a prosperous 2025, all the best John and Sarah.
Hope you all have a great new year
Great video Tom happy new year to all i think Olly’s idea on the inheritance tax if you inherited the farm and keep it as a working farm for 7 years you don’t pay the tax but if you sell it then you have to pay the tax which seems fair 👍👍
happy new years thanks for all the awesome videos this year, cant wait to see what the next year brings for all of you! :D
Happy new year to Tom and human and animal family
Keep dong what you do 🎉👍
Great to see the details of these family discussions, By the way what's the reason why you can't pump water off your fields?
The Environment Agency in England prohibits certain drainage options due to the downstream impact. Towns downstream flooded. Land needs to hold water to gradually release it, not pump it off down to lower land quickly.
Happy New Year to you all. Do some tax planning to match your situation when the dust settles. In the meantime farm on, improve your business and continue to allow us to follow along. Regards, Stephen.
Happy New year from Ken and the wife ❤❤❤❤
Happy New year to you all love the show hope to see you next year