As every farmer knows agricultural property attracts agricultural property relief (APR) which means that agricultural property can be gifted free of IHT - or does it? There are situations where HMRC have successfully challenged the claim for APR. The rules are complex and each case has to be looked at on an individual basis. There … Continue reading Inheritance Tax Planning For Farmers
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?
In the Autumn Statement George Osborne announced that from 1 January 2015 businesses will be able to get tax relief on contributions to flood defense schemes. The detailed proposals have now been released and this relief will be important for landowners who are vulnerable to flooding and coastal erosion. Please note: This article is a … Continue reading Flood Defence Tax Relief
With the increase in land prices, grazing agreements have become important for any landowner wishing to ensure that he retains valuable tax reliefs both for capital gains tax and agricultural property relief, including the farmhouse. To secure these capital gains tax and inheritance tax advantages, the land owner must be able to demonstrate that the … Continue reading Do You Wish To Secure Valuable Tax Reliefs On Grazing Land?
For landowners looking to secure income through renewable energy development, a key decision is whether to go it alone and install and operate the project themselves, or simply to lease the land to a developer. But the two options have very different tax consequences from the perspective of capital taxes. The major concern for most … Continue reading Renewable Energy: Beware The IHT Implications!