Farmers Finances..

[hotponyshoes]

Don't think they do a full electric version of the Ewok yet?

Don't know, his is hybrid. Petrol engine and plug in to charge. Does about 30 miles on electric only before the petrol engine fires up. He's had it since April and only had the engine start up twice!

 

[Keith 66]

You don't get wealthy by throwing it about! A good (millionaire) customer of the camera shop I worked in was a prime example... trousers held up with baling string and general appearance of a pauper yokel. However, he would spend good money on his camera kit.

I knew a bloke similar to that, fisherman, dressed like a tramp looked like the village idiot drove the crappiest datsun cherry you ever saw & when he died his estate was worth north of 8 million.

 

[Cobbler]

I knew a bloke similar to that, fisherman, dressed like a tramp looked like the village idiot drove the crappiest datsun cherry you ever saw & when he died his estate was worth north of 8 million.

I knew a builder that sold his company for millions, started a new company & preferred to drive his Escort van than his Rolls Royce, the other side of it was though, I knew him put 2 bags of cement in the Rolls saying “can’t hold the guys up, it’s only a car” he was a true gentleman, lovely man, having the money never changed him, just as likely to see him in overalls up a ladder painting something.

 

[8ob]

I knew a builder that sold his company for millions, started a new company & preferred to drive his Escort van than his Rolls Royce, the other side of it was though, I knew him put 2 bags of cement in the Rolls saying “can’t hold tge guys up, it’s only a car” he was a true gentleman, lovely man, having the money never changed him, just as likely to see him in overalls up a ladder painting something.

An old boy I know that used to run a plant/machinery hire and groundwork/building company is a bit like that, handed over to his nippers now but still joins in. Absolutely loaded , can still be found scratching around his yard on a Sunday in a huge excavator, reckons he finds it relaxing .

Bob

 

[Ton-up]

The owner of the company I work for, now in his eighties, is like that too. One day I went for bits in B&Q, at the next till was the boss, dressed in dirty clothes, trainers cut away, etc. He looks over, chats away and then nudges me, saying ‘pensioner discount today son’ and walks out.
The guy behind the till says something about him and couldn’t believe it when I told him he was a multi millionaire….

 

[Mick Annick]

An old boy I know that used to run a plant/machinery hire and groundwork/building company is a bit like that, handed over to his nippers now but still joins in. Absolutely loaded , can still be found scratching around his yard on a Sunday in a huge excavator, reckons he finds it relaxing .

Bob

When I had my workshop and barn floor concreted a few years back the contractor (a friend of mine) got a guy in to drive the 360 mini excavator for a few days to do the prep, lovely chap and had a beer with him at the end of each day. When it was all done my mate tells me he owns the largest plant and groundwork’s co in the area along with a couple of quarries, but likes to keep his hand in.

 

[jimbo84]

I knew a bloke similar to that, fisherman, dressed like a tramp looked like the village idiot drove the crappiest datsun cherry you ever saw & when he died his estate was worth north of 8 million.

Money shouts, wealth whispers.

 

[addjunkie]

Money shouts, wealth whispers.

Thats very true.

 

[Munkul]

I've started to realise that in reality, we are very well off in this country, in general.

We have great homes, great appliances, great cars, a lot of really good things. People on average are better off and have a better standard of living than most places in the world. Sometimes you just have to see what others don't have, in order to see your own wealth.

Of course, there's always something to complain about. The rich will always be rich, the poor will always be poor, and we're always struggling to afford the next best thing... but such is life...

 

[m_c]

I knew a builder that sold his company for millions, started a new company & preferred to drive his Escort van than his Rolls Royce, the other side of it was though, I knew him put 2 bags of cement in the Rolls saying “can’t hold the guys up, it’s only a car” he was a true gentleman, lovely man, having the money never changed him, just as likely to see him in overalls up a ladder painting something.

I think a lot of company founders are like that.
I've heard my dad on about it when he was still on building sites.
Guys had just finished a concrete pour, and a dog comes bounding through the site and straight through the concrete.
The immediate response was "Who's F******g dog is that?"
Having heard the commotion, out comes the owner in his suit, grabs the dog, throws it in the back of his fancy car, asks to borrow the trowel, then wades into the concrete still in his suit and shoes, and smooths over the paw prints, before getting in his car and leaving.

 

[ajlelectronics]

the poor will always be poor,

Even that is relative, rather than absolute.

 

[Munkul]

Even that is relative, rather than absolute.

yes definitely, that's my point

 

[Monkey Harris]

Is it true,
That some farmers sell large amounts of land to investment groups,
For investors to avoid taxes..?

 

[500e]

My best mate is like that multi millionaire, on site in rigger boots and hi vis at 80 running a machine making coffee at break time, no side atall

 

[addjunkie]

Is it true,
That some farmers sell large amounts of land to investment groups,
For investors to avoid taxes..?

Think its more likely the other way round….investors buy land and forests. Anyone can do it, you could buy land and put it un a SIPP, rent it out, income goes into your fund. Get planning on it, value increases, sell land money goes into SIPP. Forestry provides a relatively simple and very tangible investment – and offers valuable tax reliefs. This includes no income or capital gains tax, and up to 100% inheritance tax relief. Tax rules can change, and benefits depend on circumstances. Since 1984 I think it was with agricultural relief, farm land was IHT free so a way to pass wealth on, and when sold they would pay CGT.

 

[GRW]

Think its more likely the other way round….investors buy land and forests. Anyone can do it, you could buy land and put it un a SIPP, rent it out, income goes into your fund. Get planning on it, value increases, sell land money goes into SIPP. Forestry provides a relatively simple and very tangible investment – and offers valuable tax reliefs. This includes no income or capital gains tax, and up to 100% inheritance tax relief. Tax rules can change, and benefits depend on circumstances. Since 1984 I think it was with agricultural relief, farm land was IHT free so a way to pass wealth on, and when sold they would pay CGT.

Was. It's suppressed by mainstream media,but there have been massive protests by farmers, as our "government" have introduced inheritance tax on farms recently.
Meanwhile, corporations are buying up any farmland that comes available (there's a big conglomerate called Blackrock doing the buying so I've read).. and of course with the value of land, the amount of tax will force many families to sell up.... and the vultures are circling.
You can see a future where all land and property will not be owned by "the little people" - there seems to be a concerted attack by our own govts upon the private sector.

 

[addjunkie]

Was. It's suppressed by mainstream media,but there have been massive protests by farmers, as our "government" have introduced inheritance tax on farms recently.
Meanwhile, corporations are buying up any farmland that comes available (there's a big conglomerate called Blackrock doing the buying so I've read).. and of course with the value of land, the amount of tax will force many families to sell up.... and the vultures are circling.
You can see a future where all land and property will not be owned by "the little people" - there seems to be a concerted attack by our own govts upon the private sector.

Its only really since 1919 when Estate duty was increased to 40%, that big estates sold off tenant farms gradually so the little people could buy them. Wealthy folk have always bought land, farms and estates for various reasons. Historically returns were far better too in comparison to now when costs are huge, paperwork huge, and margins minimal, and purchasing* is controlled by large chains of supermarkets etc. but since 1984 land prices have escalated in part due to IHT relief.
In reality death tax / IHT is immoral in that its double taxation as every penny you die with is tax paid money. If wealth is passed down generation to generation its taxed multiple times, under various guises no matter how you try to avoid it.