Capital gains tax planning Gwent : Green & Co

Capital gains tax planning

Agriculture is a capital intensive business, and for most farmers their wealth will be in the value of the land and assets they hold as opposed to the income they receive.

With much land now being sold for development, it is more important than ever to ensure entitlement to valuable reliefs such as Entrepreneurs' Relief, which will reduce tax due to an effective rate of 10% on gains up to £10 million.

Careful and timely planning is required, covering areas such as who owns the assets and what is being sold (business or assets). Get this wrong and you could be looking at capital gains tax (CGT) of 28%.

At Green & Co, we have many years experience in forward planning on the structure of farm businesses, with a view to not only minimising CGT on any sale of the business and/or assets, but also bearing in mind succession planning issues. To speak to one of our tax experts, contact us.

xero gold partners logo sage logo ACCA logo British accountancy award 2017 winner badge-medium-practice.png badge-client-service.png badge-client-service.png badge-client-service.png

Register to receive our newsletters

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.