Rural Tax – Know the ABC
Monday 6 November 2017: 4pm – 7pm followed by hot fork supper
Wessex Royale Hotel, Dorchester DT1 1UP
Price: £30 inc VAT CLA members (additional family members FOC); non-members £40; Students & YFC members £5
Supported by: Humphries Kirk and Saffery Champness

Although taxation is a necessary evil there are things you can do to minimise your tax bill. We have an excellent line up of speakers who are experts in their field and will do their best to sweeten the taxation pill for you. How is agriculture viewed by HMRC? What are the tax pros and cons of different business structures? What are capital allowances and how can they help my business? What are the key considerations and reliefs available when passing assets on to the next generation? How do you minimise capital gains tax on development land and VAT on construction work? What is the general tax outlook and how does CLA influence it? If you want to make the right tax decisions and avoid expensive mistakes, this is the seminar for you.

This seminar will cover:

• Tax Policy Outlook, Louise Speke, CLA Chief Taxation Adviser

• Tax Policy ‘direction of travel’ looking forward; CLA’s role in influencing policy and advising members on tax issues

• A is for ‘Agriculture’ Louise Speke, CLA Chief Taxation Adviser

• Explanation of the definition of agriculture for tax purposes and the general tax treatment of agricultural businesses by HMRC

• B is for ‘Business’, David Chismon, Saffery Champness

• A review of the tax considerations of different Business structures (Sole Trader,Partnership, Ltd Company, Contract Farming, Share Farming)

• C is for ‘Continuity’, Simon Cross, Humphries Kirk

• Inheritance Tax Planning, Agricultural and Business Property Reliefs, HMRC treatment of ‘Farmhouses’ and of ‘trading’ vs. ‘investment’ activities, relevance of key cases such as the ‘Balfour’. Wills, Trusts and Power of Attorney

• D is for ‘Diversification and Development’ David Chismon, Saffery Champness

• Tax mitigation opportunities for development land 
• Louise Speke, CLA Chief Taxation Adviser – Stamp Duty Land Tax on buying farms – the future of the ‘mixed use’ category. VAT and construction work – the impact of certain planning conditions.

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