The ABC of Farm Tax
Tuesday 20 September 2016: 2.00pm – 5.30pm
Monks Yard, Horton Cross Farm, Horton Cross, Ilminster, Somerset TA19 9PT
Price: £30 CLA members; £40 Non-members inc VAT

Supported by: Old Mill & Porter Dodson

Matters relating to the taxation of assets and wealth have become increasingly complex and there is the potential for still further change and complexity. Too often the lack of appropriate action, or inertia, can have far reaching effects on assets both now and in the future. This seminar will explore both current and future farm tax issues, as well as challenges and opportunities facing both owners and their advisers.

Introduction
• Tax Policy; ‘the direction of travel’ looking forward; the CLA’s role
A - Agriculture
• Explanation of favourable tax treatment for agricultural businesses
B- Business
• Tax considerations of different business structures (Sole Trader, Partnership, Limited Companies, Contract Farming, Share Farming)
C – Continuity
• Inheritance tax planning – Agricultural and Business Property Reliefs; the Farmhouse; HMRC treatment of trading vs investment activities; the Balfour case.
• Wills, Trusts, Power of Attorney
D – Diversification, development and investment
• Use of Capital Allowances
• Capital Gains Tax & Development land – including options over land
• Stamp Duty Land Tax on buying farms –  the future of ‘mixed use’
• VAT issues on construction

Speakers will be:
• Louise Speke, CLA Chief Taxation Adviser
• Kate James, Porter Dodson
• Dan Knight, Old Mill

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