Buying up farmland to avoid inheritance tax has long been the norm.
And good for Rachel Reeves putting an end to that.
However, is she throwing the baby out with the bathwater?
£1m threshold - has the chancellor ever looked to see what a farmhouse is worth these days?
Small farms are the norm in many parts of Somerset.
The farmer owns their house, their farm buildings and maybe a couple of hundred acres and most likely rents more.
They may have taken out loans to tide them over frequent hard times.
They may have built an extra house for mum or dad.
The farmer and their family work every daylight hour growing our food and into the night with paperwork.
They are dependent on the vagaries of the weather, exacerbated by climate change, and by increased competition from imported food from countries often with lower welfare and environmental standards.
AND what makes this possible?
Often the free labour provided by the younger (and older) members of the family, at least one of whom the farmer hopes will take over from them when the time comes.
Unlike other small businesses, farm premises are now of substantial value.
Office buildings are worth nothing.
Farmhouses have succeeded rectories, most of which have been sold off already, and have become the most sought-after property by well-off people emigrating from the city.
Unlike the farmer, these new owners have the cash to "improve" these houses into a quaint country house, and maybe some buildings into holiday lets.
The farmland can stand idle or be rented to those farmers who are still managing to get by.
Present-day farmers have a long-term interest in preserving soil quality, permanent pasture etc for their children.
Farming businesses may have no such long-term aims.
What will become of the traditional farming life where the farmer works his guts out, improving land and stock to hand over to their offspring when the time comes?
I urge you to write to your MP who can work to get this legislation tidied up so we can maintain our wonderful mixed farms and farming heritage here in Somerset.
And BUY LOCAL while we still can.
Susan Levinge
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