Simple solution, change the law. If anyone buys a farm, and doesn't continue to run it as a farm, then they should be clobbered with Inheritance Tax.

#1
Well, when Sean Connery snuffs it I doubt if Jason Connery will be 'clobbered with Inheritance Tax'.

Seeing that our Sean, the socialist, has put all his cash off-shore to stop socialist Gordon Brown getting his hands on it.

Nice one Sean!

Guga II, Just how do think that should be detiremined? If they put a few horses on the property should that be considered a farm? Or do you prepose that the farm must meet some income threshold? What if the owner just rents the land out to another farmer? There is no easy solution. Why are farms exempted from IHT when other business's are not? Is it fair that a farmer can pass on the family farm when other can't pass on a family business? Better just to scrap the IHT entirely. Most rich people find some way to escape it while the middle class foots the bill.

It may be just to pay some tax once, not twice

Just underlines what a racket farming is.
Just listen to the shreiking from the farmers whenever they get denied their 'rightful' subsidies.

These IHT exemptions apply to most businesses. They could have bought a managed pub instead of a farm or shares in an unquoted business and also got the exemption.

http://www.hmrc.gov.uk/cto/customerguide/page16.htm

#2 - Do you live/work out in the Mid East ? If so, no doubt you'll be paying all your tax to Mr Brown too .. ?

Nothing new here then. Why was sunny Jim Callaghan a farmer? Because he loved mucking out a byre and milking the cows at 6am I suppose!

If farm land sells to investors for more than it could earn as farmed land it will in the long run be a bad buy.
Perhaps owners should have to submit evidence of sales receipts for farm produce.

Was SEAN CONNERY A Socialist ?

Inheritance Tax on farms and estates should be introduced so that owners are not sheltered from taxation . If properly taxed , the land that will be released can be occupied by new entrants . At this moment in time young farmers do not have a chance of getting a start . They cannot compete against city money .