Most land owners are aware of Agricultural Property Relief (APR) and could be forgiven for thinking that this means there is no risk of their Estate paying Inheritance Tax. Unfortunately there are situations where farmland does not qualify for 100% APR. There have been cases where the HM Revenue & Customs have successfully challenged claims … Continue reading Estate Planning and Farmland
Everyone with an ownership interest in your business must understand who actually owns the property. Misunderstandings can lead to expensive litigation especially when the ‘Three Ds’ arise – Death, Development and Dispute. Lack of planning can also result in unexpectedly high tax liabilities. A simple example would be a farming partnership of father and son. … Continue reading Who Owns The Farm?