Inheritance Tax and Agricultural Property

Inheritance Tax and Agricultural Property

Inheritance Tax is the tax due on the value of an individual’s estate when they die. The Inheritance Tax threshold for the current tax year is £325,000, so in the event of death, an estate worth more than £325,000 will incur a tax charge of 40% (or 36% if 10% or...
Estate Planning and Farmland

Estate Planning and Farmland

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...
Estate Planning and Farmhouses

Estate Planning and Farmhouses

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 have been cases where the HM Revenue & Customs have successfully...
When Is A Farmer Not A Farmer?

When Is A Farmer Not A Farmer?

The decline in farming incomes has encouraged many rural businesses to diversify in order to maintain their lifestyle or even to keep their business solvent. Many farmers have found they can make good use of land and property and have turned otherwise idle assets into...