business assets Archives

Your Redundant Farm Building could be Restricting your Inheritance Tax Relief

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...

Herd Basis Elections

Advice, Business Support, HMRC

Usually, when dealing with farm animals, they are treated as trading stock for accounting purposes. However, some farm animals are more like capital assets of the farmer’s business than current assets to be bought and sold. One example of this is animals which...

How Should You, as a Business Owner, Approach Inheritance Tax?

Tax

As a business person, you have a lot to think about. One important detail that tends to get overlooked is the matter of inheritance tax. Are you a director, partner or shareholder in a business? Have you considered how your assets and stake in the company might be...