Landed Estates News
09 March 2012
This article addresses the key issues surrounding the test of ownership and occupation of a farmhouse or dwelling in relation to APR assessment.
20 July 2011
Those who hope to preserve their inherited wealth on divorce may take heart from a recent case in which the Court of Appeal left more than 90% of the family's assets with the wife, who had inherited them prior to her marriage.
03 June 2011
The result of a farmhouse APR case has just been published which is good news for farmers hoping for relief on their farmhouse despite their semi-retired status or small acreage.
31 March 2011
The Coalition emergency Budget last June dramatically overhauled the capital gains tax (CGT) rules. Out went the flat rate of 18% to be replaced by a maximum rate of 28%. There is still no allowance for indexation but Entrepreneurs' Relief remains to reduce the rate of CGT to 10% on the disposal of business assets.
31 March 2011
Three recent announcements suggest that inheritance tax and schemes to avoid it are coming under ever greater scrutiny.
31 March 2011
Points of interest from the 2011 Budget.
27 July 2010
The new Flood and Water Management Act 2010 is likely to have a significant impact on farming operations, especially on low lying land or where there is a farm reservoir or man made lake. One of the Act's central objectives is to shift the emphasis away from flood defence to "flood and coastal erosion risk management", a concept which allows rural land to flood to protect urban centres.
27 July 2010
The Coalition’s emergency Budget was delivered on 22 June. The focus was primarily on significant cuts to public spending rather than tax increases, although inevitably tax rates did not escape unscathed. There were no announcements about inheritance tax or the status of non-domiciliaries but of course the Chancellor needs to keep something up his sleeve for next time!
15 February 2010
From the beginning of 2010 local authorities will have new powers to ensure that private water supplies provide wholesome water. The main headline for landowners is that failure to comply with notices served by local authorities to undertake work to improve the quality of supply is now a criminal offence.
16 November 2009
HMRC has in recent years become extremely keen to charge penalties where Executors fail to declare or undervalue assets comprised in a deceased's estate. For further details please click on the link.
16 November 2009
Following several years of consultation the European Union have proposed a Regulation with the objective of simplifying the procedure where someone dies owning assets in more than one EU country.