Tax Planning for Farm and Land Diversification

ISBN-13: 9781526506641 / Angielski / Miękka / 2018 / 688 str.

Julie Butler

Opis

Tax Planning for Farm and Land Diversification, Fifth Edition has been extensively updated to cover all the developments in this area, in particular regarding subsidies, property development and Brexit-led implications, as well as a greater emphasis on probate preparation and disputes. Every chapter has been updated to take account of the numerous changes in agriculture since the previous edition. As such, it covers: - The need to consider issues of undue influence, lifetime gifts and the role of the executor and beneficiary penalties for farming families - Consideration of the ‘glamping’ and Airbnb diversification and associated tax implications - Additional tax planning possibilities where sale of development land is anticipated including ‘slice of the action’ schemes and overage for farmers - HMRC’s current approach to business property relief claims for livery businesses - Update on entrepreneurs’ relief and the tax treatment of barter transactions and overall areas of woodlands - The impact of FRS 102 and FRS 105 on the farming industry and the impact on stock - Consideration of the HS232 Farm Stock Valuation (2015) (updated April 2016) and its practical implications for stock valuations

Spis treści

1: Farming and the need for diversification 2: Diversification – alternative land use, grants and impact on the basic tax planning 3: Wills 4: Protecting the tax position of the farmhouse 5: Protecting the farm's assets 6: Diversification – the reality 7: Tax planning for fixed assets and stock 8: To incorporate or not to incorporate? 9: Planning for VAT 10: The 'reluctant' and 'lifestyle' farmer 11: Share farming, contract farming, farm business tenancies and other farming business agreements 12: Hobby and lifestyle farming and use of farming losses 13: Planning the best use APR and BPR for inheritance tax 14: Planning property disposals tax efficiently 15: Farmland and buildings – the letting activity 16: Divorce and farming 17: Trusts 18: Miscellaneous