Barn Conversions And Tax Planning

Barn Conversions And Tax Planning

We originally published this post on the ‘tax implications of barn conversions’ on 2 June 2014 and updated it on 4 June 2024 for freshness, accuracy, and comprehensiveness. Barn conversions have become increasingly popular in the UK, offering a unique...
What Do Elephants and Farmhouses Have in Common?

What Do Elephants and Farmhouses Have in Common?

We originally published this post on the ‘Elephant Test’ on 23 September 2013 and updated it on 9 May 2024 for freshness, accuracy, and comprehensiveness. “Does Your Farmhouse Pass The Elephant Test?” Many farmers are not concerned with Inheritance Tax...
What is the Nil Rate Band?

What is the Nil Rate Band?

The Nil Rate Band (NRB), also known as the Inheritance Tax (IHT) threshold, is the amount up to which an Estate has no IHT to pay. The current allowance available on the Estate of an individual is £325,000; anything above this is taxed at 40%. The NRB applies to...
Autumn Business Newsletter

Autumn Business Newsletter

Our latest newsletter is here, packed with information on estate planning, VAT schemes, capital allowances and much more! To view our latest newsletters, visit the publications section of our website. Please note: This article is a commentary on general principles and...
Are You Affected by Inheritance Tax?

Are You Affected by Inheritance Tax?

The Inheritance Tax (IHT) collected by HMRC for the year June 2016 to May 2017 saw an increase of 9% on the previous year, rising to over £5 billion for the first time. According to law firm Wilsons, this is attributed to rising property values and the freezing of the...