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.
How can we help
We have been dealing with HMRC related troubles for a combined period of over 150 years, having dealt with hundreds of cases both as former HMRC Investigators and assisting and supporting clients in our time in practice. Our clients tell us that they value our extensive knowledge and genuine "hands on" accessible and no nonsense approach to any matter involving HMRC and disputes and difficulties with them.
We operate nationally, or internationally, and are not tied to our desks.
We believe in giving a clear and no nonsense level of support with affordable fees and costs. Our pricing structure is affordable, and we will fix budgets 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.
Leading business, investment and financial magazine Acquisition International recently interviewed Independent Tax owner and managing partner, Gary Brothers about the innerworkings of the company and what sets it apart from its...
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