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“Natural capital” refers to all the elements of the natural environment – soil, water, wildlife species and habitats, forests etc. Farmers can be paid for creating environmental benefits or [...]

A recent tax tribunal: Steadfast Manufacturing & Storage Limited v HMRC (2020) UKFTT 286 (TC) tinyurl.com/TX-UKFTT-286 highlights the potential income tax efficiency of undertaking farm repairs. [...]

When administering an estate under the law of England & Wales, the PR is bound by the terms of the Will, or the laws of intestacy.  Each beneficiary is to receive the benefit to which they are [...]

Increasingly, executors are playing a role in the sale of farm property for a number of reasons. First, the demographic of a large amount of UK farm ownership is elderly. Second, the farm market [...]

In the recent past, it was commonplace to identify in wills if a legacy or devise was to be given “free of tax”, or “subject to tax”.  Some will drafters continue to include reference to “free of [...]

This text is aimed at tax practitioners, many of whom will not be lawyers. Over 300 pages of the book contains extracts from legislation. There is an assumption of general tax knowledge relating [...]

Understandably, the focus of British owners of Spanish properties has shifted sharply away from Brexit anxiety, to concern about the consequences of the current coronavirus lockdown. The Spanish [...]

With the Entrepreneurs’ Relief (ER) lifetime limit for Capital Gains Tax (CGT) having reduced from £10 million to £1 million in the Budget, it is considered that Rollover Relief will become more [...]

FRS 102 is the Financial Reporting Standard that applies to the UK and the Republic of Ireland. It has been a major overhaul of accounts disclosures replacing UK GAAP (General Accepted Accounting [...]

Many farming families who trade in partnerships do not always agree on tax and legal treatment of various areas surrounding the farming partnership. There have been a number of disputes reaching [...]