The introduction of the Main Residence Nil Rate Band (MRNRB) has significantly changed Inheritance Tax Planning for Land and Business Owners. If your assets are worth more than £2m (including Land and Business assets) then your Estate could lose the benefit of up to £350,000 in MRNRB. This could increase Inheritance Tax by up to … Continue reading Big Changes In Estate Planning
The Royal Institute of Chartered Surveyors (RICS) has recently announced that the price of Welsh farmland has increased by around 13% in the last 12 months. Although Welsh land is not as expensive as that of our English neighbours, the cost of an acre of Welsh farmland averaged out at £7,500 for 2014. A spokesman … Continue reading Thinking of Selling Your Welsh Land?
There are a number of issues which make farming businesses different from other organisations as far as accountancy and tax planning advice is concerned. Farming businesses tend to be more capital intensive and the return tends to be lower than with other businesses. This is usually even more extreme if the farm is owned as well … Continue reading The Business of Farming