Business and Agricultural Property Relief
Bloomsbury Professional (Verlag)
978-1-84592-344-0 (ISBN)
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Business and Agricultural Property Relief, Fifth Edition is a practical guide to the rules of inheritance tax relief for business, farm, woodland and heritage property. It examines both legislation and case law in detail, and provides worked examples to illustrate how principles of tax relief are applied in practice. Numerous references to HMRC guidance and Manuals are also included. This book discusses everyday situations that are likely to be encountered in practice and provides guidance on compliance, along with tips for saving clients' tax. Most importantly it contains numerous examples of pitfalls to avoid in this complex area of tax law. It covers topics and questions such as: - What constitutes agricultural property? - What is treated as business property?
- The definition of woodland - The types of property that attract heritage relief - How reliefs interact - How reliefs may be lost - Valuable planning ideas - Specific specialist subjects such as holiday lettings, horses, Lloyd's underwriters, heritage maintenance funds and the treatment of royalties of deceased composers This fifth edition has been comprehensively revised to take account of recent legislation and cases including: - Finance Act 2006 - particularly its impact on inheritance tax - Finance Act 2008 - particularly the impact of the transferable nil rate band on will planning for business and agricultural properties - Finance Act 2009 - particularly the relaxation of territorial restrictions on agricultural and woodland properties - Swain Mason v Mills & Reeve - Vinton v Fladgate Fielder - Trustees of Nelson Dance v HMRC - McCall v HMRC - Earl of Balfour v HMRC - Atkinson v HMRC
Toby Harris LLB CTA TEP has been working in the area of private client law and tax for 40 years. Since 1996 his own tax consultancy has grown steadily, serving solicitors and accountants in England and Wales. Toby has worked extensively to train the next generation of trust and probate professionals and will writers. The experiences of his career have been distilled into this work so that he can share his knowledge of the pitfalls and how to avoid them.
1 Introduction; 2 Agricultural Property: qualifying property; 3 Agricultural property: agricultural value, the rates of relief, occupation and other aspects; 4 Agricultural property: areas of particular concern; 5 Business property: property qualifying for the relief; 6 Business property: the rates of relief, limitation to the relief; 7 Relevant business property: exceptions to the relief: excepted assets; 8 Relevant business property: aspects of valuation and the treatment of liabilities; 9 Relevant business property: exceptions to the relief: 'wholly or mainly holding investments'; 10 Clawback; 11Woodlands; 12 Overlap of APR and BPR; 13 Tax shelters; 14 General planning points; 15 Will planning; 16 APR and BPR: the new regime; 17 Heritage property: what qualifies, undertakings and access; 18 Heritage property: application for exemption and variation of undertakings; 19 Heritage property: loss of the exemption; 20 Heritage property: the regime for relevant property trusts; 21 Maintenance funds; 22 Compliance; 23 Payment of IHT.
| Zusatzinfo | Illustrations |
|---|---|
| Verlagsort | London |
| Sprache | englisch |
| Maße | 156 x 234 mm |
| Themenwelt | Recht / Steuern ► Steuern / Steuerrecht |
| Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik | |
| ISBN-10 | 1-84592-344-8 / 1845923448 |
| ISBN-13 | 978-1-84592-344-0 / 9781845923440 |
| Zustand | Neuware |
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