When inter-generational situations may affect the IHT situation for farming families. Julie Butler of Butler & Co looks at the implications.
With all the changes currently facing farming, eg. new planning permission guidelines, the need for increased diversification; the Agriculture Bill promoting delivery of “public products” [...]
The Upper Tribunal decision in B and R Scrambler v CRC Tribunal (Tax and Chancery Chamber) 10 January 2017 highlighted the harsh approach of HMRC towards the allowability of continued loss claims [...]
It is fair to say that if in a quiz the question was raised “which of the following is farming for tax purposes – breeding horses or growing asparagus?” the answer would probably be asparagus [...]