Net tightens on Inheritance Tax relief for Furnished Holiday Lets

Posted by on Jul 8, 2015 in Research, Residential Property, Tax, Uncategorised, Uncategorized | Comments Off on Net tightens on Inheritance Tax relief for Furnished Holiday Lets

HMRC have recently won a tribunal decision that confirms that inheritance tax relief will only be available on furnished holiday lets (FHL) in exceptional circumstances. Simon Dixon Smith of Land Partners comments ‘the newly released case of Green v HMRC confirms that the majority of holiday lettings businesses will not attract inheritance tax relief. This will be costly to the families of holiday cottage owners’. It is estimated that there are over 75,000 units of FHL in the UK. Many of these will have been purchased for the primary benefit of the owners with holiday lets offered as a way...

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SCHEME UPDATES FROM LAND PARTNERS LLP

Posted by on Apr 10, 2015 in Research, Uncategorized | 0 comments

Hopefully you are now registered on the Rural Payments online system. If not, ring 03000 200 301 now! This remains a condition of entry for all schemes. Basic Payment Scheme The paper based application forms for 2015 (form BP5) will be emailed to registered applicants from next week for completion by 15th June. The forms look similar to the old SP5 claim forms. Note that there are 22 pages of new crop codes (e.g. winter wheat changes from OT1 to AC66). New information required for the claim mainly centres on the need to specify EFA areas. Where relevant for the EFA you will need to have...

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Few opportunities for Essex farmland buyers in 2012

Posted by on Jan 25, 2013 in Uncategorized | 0 comments

Whilst headlines in 2012 proclaimed the continuing rise in agricultural land prices buyers in some areas were unlikely to have found something to purchase. Availability: Just over 2,600 acres of farmland was offered for sale in Essex in 2012, in 16 blocks averaging 166 acres each. Three good sized farms failed to find a buyer meaning that only 1750 acres were sold in the open market achieving a total sale price of around £16.5m. Private sales have increased the total sales slightly but not to the same extent as previous years. Suffolk, on the other hand, saw over 7,000 acres publically...

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Farming 2012 – a curate’s egg

Posted by on Aug 20, 2012 in Uncategorized | 0 comments

It’s now nearly 8 months that Land Partners has been up and running and operating from a converted farm building in a working farm yard. Nothing brings home the vagaries of the agricultural year like watching it out the window and receiving regular updates in passing from the horses’ mouths (apologies boys). Not being the farming expert within the firm, it’s been a great reminder of all the points in the farming year which together bring success or heartache at harvest. It’s hard to remember now that we were seriously worried about drought conditions at the beginning of the year and as...

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Properties on the market

Posted by on Jul 6, 2012 in Uncategorized | 0 comments

A new month and a new page added to the Land Partners website with the launch of two properties to the market – one for sale and one to let. Land Partners’ first foray into the land sales market comprises a block of c.85 acres of predominantly arable land near Cambridge. The land is classified Grade 2 and is good cereal growing land in a convenient location. Interest has already been strong and further interest is anticipated following on from the advert in the Farmers Weekly on 6th July. The land is available at a guide of £700,000. On the lettings front, Kentishes Farmhouse is a handsome...

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UK AGRICULTURE SITS ON AN EQUITY GOLDMINE

Posted by on May 31, 2012 in Uncategorized | 0 comments

Banks are “falling over themselves” to lend to farmers because of the growing value of agricultural land and the sector’s excellent credit record. The result is that farmers can afford to be bold in their investment decisions because lenders are less concerned about what purpose borrowed funds are used for. In turn this is providing a wide variety of enterprise opportunities. The report and the confident outlook comes from Simon Dixon Smith of Land Partners (LLP), the new advice team for farmers in the eastern region. “Banks will offer funds on a five year fixed term at around 4.5%,” he...

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