Capital Gains Tax and Inheritance Tax sound great, don't they? The bigger and therefore more expensive the property the more tax you pay.
But what about all the farms, especially little farms over here? Farming does not pay well and hasn't for decades leaving our aged ex-farmers with very little savings. Their children haven't followed them into farming (because there is no money in it) so these farms are sitting there waiting to be passed on to the next generation who will proably have to sell it to developers to get any return at all- more green zones being built on & likely more 'barn conversions' and flats! (We really need more of them!)
Anyway, my point is once you have inherited the farm, and no moneys from your parents non-existent savings, how are you going to pay inheritance tax?
See for example all the Estates and Manors in England which have been left to rot because once the families have paid their inheritance they can no longer afford the upkeep.
Our poor farmers have been screwed over enough thanks to the shocking neglect of the States and trampled by larger farmers who have pushed them so far they can no longer go on, corner the market then decide to retire with their ill-gotten gains!
