Future of farming & Diversification

24th March 2015

Cow grazing on a farm.


An in depth review of the Inheritance Tax implications of some of the ways in which our clients are diversifying on the farm.

 

KEY POINTS

  • Farmers are finding additional, non-farming methods of generating income from farmland.
  • Values for agricultural property relief and business property relief may not be the same.
  • The available relief can be halved where business assets are held off the business balance sheet.
  • Investment assets can still be eligible for relief if, when looked at “in the round”, a business is being carried on.
  • The importance of ascertaining the true ownership of assets in a a farming business.

Click here to download this article (PDF, 523.8KB)


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