Following the UK Government budget announcement with farmers on changes to the Farm tax. Thornbury MX have spoken with landowners and farmers who’s land we use for events and its time to support the ‘Stop the Farm Tax Campaign’ Promoted by Alan Mabbutt on behalf of the Conservative Party.
After speaking with some of the landowners and the farmers who allow us to run our Moto X events on their land, it is now very evident that the latest Government tax changes on Farm Tax especially with the inheritance Tax change, it could be more devastating to our sport than we think.
Farmers who hand the farms down through generations to keep us all in crops, Foods, sporting venues, equestrian venues, etc, etc are now looking at selling up to the big corporate banks and financial institutes as the next generation will not be able to afford the huge inheritance tax bills they face.
Where farms may have a huge value in land as working farms, they don’t have huge cash resources.
Where an average farm with land and buildings etc may be in the value of £8-10 million, the truth is that most don’t have any disposable cash.
If a farm now gets handed down to the next generation the tax bill faced for the average farm would be £2 million plus, which they simply won’t have.
This will force the sell of the farms to the banks etc which will be the end of Farming in this country and it will be devastating to us all.
We think we are losing tracks now give it a few years we will lose tracks weekly.
This will have more impact than Noise Abatement restrictions, support the farmers and visit the link below and sign the petition to stop this Tax.
The pen is mightier than the sword, support it today.
