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Business and Agricultural Property Relief, 5th edition

Business and Agricultural Property Relief, 5th edition

Author: Toby Harris
Publisher: Bloomsbury Professional (formerly Tottel Publishing)
ISBN: 9781845923440
Published In: June 2011
Format: Paperback , 500 pages
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

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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
Business and Agricultural Property Relief, Fifth Edition is an essential reference book for accountants and solicitors working in small- to medium-sized firms, as well as financial advisers and wealth managers. High net worth individuals, will writers and barristers in non-contentious practice will also find this a useful resource. This is an ideal companion to Bloomsbury Professional’s tax annual Capital Gains Tax Roll-over, Hold-over and Deferral Reliefs.