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Agricultural, Business and Heritage Property Relief, 7th edition

Agricultural, Business and Heritage Property Relief, 7th edition

  • Author:
  • Publisher: Bloomsbury Professional (formerly Tottel Publishing)
  • ISBN: 9781526503763
  • Published In: February 2018
  • Format: Paperback , 682 pages
  • Jurisdiction: U.K. ? Disclaimer:
    Countri(es) stated herein are used as reference only

List Price: HKD 1,430.00

HKD 1,387.10 Save HKD 42.90 (3%)

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  • Description 
  • Contents 
  • Details

    Business and Agricultural Property Relief, 6th 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.

    Include the following legislation and case law:
    FA 2013 s176 and Sch 36 – new measures designed to prevent the deductions of debts;
    FA 2012 s49 and Sch 14 – new Cultural Gifts Scheme which introduces new IHT relief for heritage property;
    Pawson v HMRC [2012] – remains very important as severely limits the ability to secure BPR on furnished holiday lets;
    HMRC v Hanson [2013] - provides much needed clarification when deciding whether a farmhouse qualifies for Agricultural Property Relief;
    HMRC v Atkinson [2012];
    Golding v HRMC [2011];
    G Silber (pr of Lerner (Deceased) v HMRC (2012);
    Swain Mason v Mills & Reeve [2012];
    Sir Malcolm Arnold (deceased)/Dav v Harris [2013].

  • Chapter 1: Introduction
    Chapter 2: Agricultural property: qualifying property
    Chapter 3: Agricultural property: agricultural value, the rates of relief, occupation and other aspects 
    Chapter 4: Agricultural property: areas of particular concern 
    Chapter 5: Business property: property qualifying for the relief 
    Chapter 6: Business property: the rates of relief, limitations to the relief 
    Chapter 7: Relevant business property: exceptions to the relief: excepted assets 
    Chapter 8: Relevant business property: aspects of valuation and the treatment of liabilities 
    Chapter 9: Relevant business property: exceptions to the relief: ‘wholly or mainly holding investments’ 
    Chapter 10: Clawback 
    Chapter 11: Woodlands 
    Chapter 12: Overlap of APR and BPR 
    Chapter 13: Tax shelters 
    Chapter 14: General planning points 
    Chapter 15: Will planning 
    Chapter 16: APR and BPR: the new regime 
    Chapter 17: Heritage property: what qualifies, undertakings and access 
    Chapter 18: Heritage property: application for exemption and variation of undertakings 
    Chapter 19: Heritage property: loss of the exemption 
    Chapter 20: Heritage property: the regime for relevant property trusts 
    Chapter 21: Maintenance funds 
    Chapter 22: Compliance 
    Chapter 23: Payment of IHT 
    Appendix 1: Legislation 
    Appendix 2: Statutory Instruments 
    Appendix 3: Extra-statutory Concessions 
    Appendix 4: HMRC Statements 
    Appendix 5: HMRC and other press releases 
    Appendix 6: Forms used in IHT100 and 400 
    Appendix 7: Immensee farm: a case study 
    Appendix 8: Heritage property: the old rules 

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