The profitability of woodland

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Julie Butler and Fred Butler look at factors driving the profitability of woodland together with a reminder of the tax reliefs and exemptions available. They go over commercial woodland, inheritance tax, APR and BPR and when woodland activity is farming, among other things.

Summarising the OTS report on Inheritance Tax Simplification

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Sue Moore summarises the key recommendations from the Office of Tax Simplification’s review on inheritance tax, the administration and technical aspects.

Changes in private residence reliefs

Draft legislation from the Budget has continued to evolve and a particularly relevant section for the agricultural sector has now been published, in the form of changes to prevent landlords from exploiting main residence relief allowances.

Changes in capital gains tax on private residences

Rebecca Benneyworth, vice chairman of the Tax Faculty, explores the forthcoming changes to capital gains tax on private residences, focusing on the 30-day payment window and giving practical examples.

ICAEW CAAV annual dinner

We had the pleasure of hosting this year’s annual dinner at the Institute on 16 April 2019.

Spring Statement 2019

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Jane Moore rounds up the tax items from the Spring Statement 2019, including Making Tax Digital, structures and buildings allowance, tax avoidance and evasion, national minimum wage, apprenticeship levy and forthcoming papers over the rest of the year.

SDLT payment window reduced

For transactions with an effective date falling on or after 1 March 2019, the due date for payment of the SDLT has changed to 14 days.

SDLT and dilapidated dwellings

An important decision was made at a First-tier Tribunal in the case of PN Bewley Ltd V HMRC.

Case law: Scheme used by landlords to avoid business rates on empty commercial properties is valid

Landlords with unlet, unoccupied commercial properties will welcome a Court of Appeal ruling that a scheme allowing them to avoid paying business rates on them is valid and lawful.

Rollover and replacement potential

Julie Butler F.C.A explains the rollover and replacement process for farm owners.