CGT & IHT Relief for Farmers & Landowners - A Guide to Managing the Risks

Introduction

Despite the recommendations of the APPG (all party parliamentary group) to remove APR and BPR for IHT, these reliefs still exist and are beneficial. Likewise, it was suggested by the OTS (office of tax simplification) that CGT rates should be increased to income tax rates. With the high value of the farms. the risks of not qualifying for the IHT and CGT reliefs is a concern for advisers.

This webinar looks at managing the risks of these reliefs.

What You Will Learn

This short webinar will cover the following:

• Qualifying for rollover relief - ensuring the farm assets qualify with business status
• Partnership property - the need to protect 100% BPR as opposed to 50%
• The need for an updated partnership agreement and wills - full succession planning
• Too many investments deny BPR, the Balfour case - checking the business matrix
• The recent Apart Hotel case - showing the need for portfolio of evidence
• The farmhouse - evidence of agricultural occupation under s117
• Forensic analysis of operation to protect the IHT and CGT reliefs
• Understanding the partnership loans, freehold property and land capital accounts
• Lifetime gifting now to take advantage of the existing IHT and CGT reliefs
• Agricultural tenancies increasing the 50% APR to 100%
• Share farming arrangements ensuring trading robust for IHT and CGT
• Development land - the need for BPR not APR and agricultural value problems

This pre-recorded webinar will be streamed at 12:30pm on Thursday 27th April 2023 and will remain available to view by delegates who have registered by then for 90 days.