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Tax Planning for Farm and Land Diversification, 3rd edition

Tax Planning for Farm and Land Diversification, 3rd edition
Only £95.00
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9781845924850 - £95.00 VAT Free

Tax Planning for Farm and Land Diversification 3/ed

Written By Julie Butler

Click here for a free sample chapter

Tax Planning for Farm and Land Diversification, Third Edition examines traditional farming and diversification in the light of tax and planning procedures. It explores the current trend to diversify away from pure food production, and the turn toward alternative land use for the purpose of profitable enterprise. It also covers forms of tax planning that are necessary to cope with the upheavals facing all those in farming communities.


This new edition shows you how to protect the high value of farms and landed estates through the process of diversification, and how to handle the rollover of gain, from the sale of a business, into a farm or estate.

Every chapter of Tax Planning for Farm and Land Diversification has been updated to take in the numerous changes in agriculture since the previous edition.

This well-timed third edition is up to date to all relevant legislation and covers:

  • CGT reforms and further changes in the coalition budget
  • The change from Business Asset Taper Relief to Entrepreneurs’ Relief
  • The move away from production based subsidies to area based subsidies
  • Single Farm Payment and the agricultural reviews
  • Biodiversity and farm gate – including the commercial and tax implications
  • The behaviour-based penalty system associated with income tax, CGT and inheritance tax
  • HMRC’s close scrutiny of all diversified businesses
  • Coverage of trusts updated to Finance Act 2006, Finance (No 2) Act 2010 and Perpetuities and Accumulations Act 2009
  • References to the most recent Planning Guidance changes and the new ‘localism’ agenda of the Coalition Government

    This is a significant book for all those who want to gain a greater understanding of the implications of diversifying from traditional farming and the taxes involved in the process.

    Farm tax advisers, farm accountants, land agents and agricultural colleges will find this a very useful handbook, as will tax advisers, accountants and solicitors who do not have agricultural experience, but who wish to gain a general understanding of farming, diversification, tax planning and the big changes that are facing the agricultural world.

    Julie Butler FCA has been qualified for over 30 years as a chartered accountant. She is married to a farmer and owns farm and woodland herself so understands the issues of farmland and diversification at a very practical level. She has formed her own firm of chartered accountants, Butler & Co, which acts for a large amount of the farming and equine industry and lectures widely on the subjects surrounding farm diversification.

    Bibliographic detail

    ISBN: 978 1 84592 485 0
    Publication Date: May-11
    Format: Paperback
    Availability: In Print
    List price: £95.00

    • Description
    • Reviews
    1 Farming and the need for diversification
    2 Diversification - alternative land use, grants and impact on the basic tax planning
    3 Obtaining planning permission
    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 incorporating the phasing out of quota
    8 To incorporate or not to incorporate?
    9 Planning for VAT
    10 The ‘reluctant’ and ‘lifestyle’ farmer
    11 Share farming, contract framing, 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 Wills
    19 Miscellaneous
    20 Single farm payment - the tax implications

     



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