Tax Planning
Trading & Agricultural Assets
Where a trade is carried on, there are two most important tax reliefs potentially available. Entrepreneurs’ relief reduces Capital Gains Tax on a sale of the assets (or shares in a trading company or group) from 20% to 10%. Business Relief eliminates Inheritance Tax when there is a chargeable transfer on death or in life. With agricultural businesses, there is Agricultural Property Relief from Inheritance Tax which has different rules from Business Relief.
Unfortunately, the conditions for these reliefs to apply are somewhat tortuous and we have seen many cases where the reliefs have been denied on technicalities. We can advise on methods of ensuring that this doesn’t happen. Where there is a sale of a trade or a company in the offing, our advice will go hand in hand with that on possible business restructuring and we stress the importance of early engagement to ensure that the assets are in the right place at the time of the sale.
Tax Planning
How can we help
We are problem solvers. If you tell us about a current situation and what are the aims for the future, we should be able to give you our recommendations. They will be bespoke solutions and not pre-prepared tax avoidance schemes. The solutions will be based on or experience which includes remembering what tax advice was all about before schemes became prevalent.
We operate nationally, or internationally, and are not tied to our desks. We believe in giving a no nonsense level of support with affordable fees and costs. Our pricing structure is affordable, and we will fix fees for our engagements avoiding the traditional open-ended, “on the clock” approach of larger firms and our competitors.
To discuss this with us on a non-judgemental, discrete and no-cost basis call our helpline 0800 001 6686 or contact us today.
