Business Support, HMRC, Property, Tax
There has always been uncertainty over whether a landowner is a farmer or a landlord for tax purposes. There has however, been a recent useful decision by the First Tier Tribunal in the case of John Carlisle Allen which has helped to clarify the capital gains tax...
Advice, Business Support, HMRC, Property, Tax
It is very likely that at some point your farmhouse and other buildings used in the farming business will require refurbishment, and it is important to be aware that whereas some repair expenditure can be relieved in the year it’s incurred (subject to a disallowed...
Advice, HMRC, Property, Tax
Agricultural Property Relief (APR), if obtained, allows an individual to pass on agricultural property, either in their Will or during their lifetime, free of Inheritance Tax (IHT). Business Property Relief (BPR) reduces the IHT payable on a wider class of qualifying...
Advice, Business Support, Property
New regulations which affect landlords in Wales may also have implications for tenant farmers who sub-let dwelling houses. The Rent Smart Wales scheme was introduced by the Welsh Assembly with a view to improving the quality and standards of Welsh housing in the...