APR & BPR - A Problem Solving Masterclass
Farms and landed estates have not just held their value in recent years against a background of farming losses, changes, and uncertainty, they have actually increased in value.
Such a scenario makes the quantum of potential tax liability that is at risk even greater.
In addition, the HMRC enquiry machine has been aggressive, and many of the elderly farming community have not taken advice.
Against this background farming business families have fought amongst themselves and prevented an objective APR/BPR holistic approach within the family farming businesses.
Likewise with the move to ‘farming for the environment’ HMRC have not updated some of their guidance which can make some potential claims for APR and BPR vulnerable.
This new seminar will set out practical solutions to these problems and is suitable for accountants, tax advisers, land agents and solicitors.
What You Will Learn
This course will cover the following:
- Solutions to APR/BPR enquiries by HMRC
- Threat to APR/BPR through the APPG report - lifetime gifting
- The risk of GROB with lifetime gifts - use of the partnership and evidence
- The increases to market value of the farmhouse - protection of APR and the agricultural value gap
- Making contract farming arrangements robust for APR and BPR
- Protection of APR and BPR with ‘farming for the environment’ and rewilding with vineyards and cider making
- Integrating ELMs and the Agriculture Act into previous APR/BPR planning
- The Balfour dilemma - the threat of too many investments
- Claiming BPR on woodland whilst still claiming the tax-free income exemption
- Achieving APR on ancillary woodland
- Protection of 100% BPR (not 50%) through correct partnership property
- Protection of 100% APR (not 50%) through changing agricultural leases
- Preserving 100% BPR on development hope value
- Preserving APR on grazing agreements and licences
- Protection of BPR on liveries
- Protection of BPR on furnished holiday accommodation
- Using Vigne and Graham to protect BPR on all farm diversification projects
- The introduction of the limited company through the super deduction and R&D 130% - protection of APR/BPR in the round
- Protection of BPR after the farm is sold - BPR alternatives
- Using rollover relief to allow APR/BPR replacement relief for IHT
- The importance of quality valuations for both APR/BPR planning and probate
Please let us know if you wish to be notified.
Please let us know if you wish to be notified when new dates are added for this programme