Stanley: Taxation of Farmers and Landowners

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Commentary

This popular title deals fully with the implications of all taxes for landowners and farmers and takes account of the changed economic climate for farming in Britain.
* Discusses the latest developments in inheritance tax, capital gains tax, valuation of agricultural tenancies and VAT
* Includes guidelines, worked examples and checklists for a more practical explanation of a complex subject area

Taxation of Farmers and Landowners

In this Issue
Issue 45
November 2019

Issue 45 includes:

  • the second OTS review of inheritance tax at [1.47]

  • SDLT advantage of mixed-use property at [1.50]

  • land registration as a tax planning tool at [1.51]

  • Agricultural Tenancy Reform 2019 at [4.16]

  • consideration of the Environment Bill at [5.2]

  • property allowance at [5.6]

  • Cheshire Cavity Storage case – claims to capital allowances on underground storage cavities were held by the FTT as not plant and machinery at [3.72]

  • the letting of farm cottages at [5.22]

  • capital allowances and the slurry pit at [5.28]

  • update on wayleaves at [5.91]-[5.94]

  • GAAR will be applied to avoidance of the anti-phoenixing rules on winding up of companies at [6.41]

  • extension of non-resident CGT to all UK land at [7.1]

  • HMRC’s examples on how the entrepreneurs’ relief rules apply to companies with different classes of shares at [7.38]

  • qualifying properties for the IHT residence nil rate band at [8.6A]

  • how the occupation test applies to agricultural properties for IHT agricultural relief at [8.69]

  • VAT and artificial separation of companies – further tribunal success in Darren Vaughan at [9.53]

  • VAT on sale of horses at [9.105]

  • VAT on farm diversification and goat yoga at ) at [9.140H]

  • VAT certificate for builders – importance to farming at [9.140J]

  • transfer of mortgaged property between spouses not charged to the additional 3% at [10.21A]

  • SDLT case concerning a property purchased with 3.5 acres including a paddock at [10.32]

  • Scottish woodland and general expansion of forests and woodland at [13.10]

  • guidance of the professional bodies on professional conduct in relation to tax planning at [15.2]

  • correction of a mistake by trustees – Smith v Stanley at [17.19]

  • new requirements for in year CGT returns on disposals of residences at [19.23]

  • discovery assessments and the requirement for HMRC to act without delay at [19.31]
  • Contributors

     Julie Butler Author
     Malcolm Gunn Author