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Wind Farms – tax planning considerations

With the increased number of wind farms and the increased income arising from wind turbines the question is being asked what is the income tax, inheritance tax (IHT) and capital gains tax (CGT) position relating to the asset and the income?

For IHT purposes the answer has to be that the wind turbines are placed with large distances between each turbine and a lot of business/farming activity can take place around them. An integral IHT point is therefore what is the turbine standing on – is the land part of an agricultural activity or a business?

Let’s consider alternatives.