Opportunity to contribute to the CGT review

Posted by on Jul 17, 2020 in Uncategorised | Comments Off on Opportunity to contribute to the CGT review

On the 14th July the Chancellor confirmed his request to the Office of Tax Simplification (OTS) to undertake a review of Capital Gains Tax (CGT). This is the first time that the OTS have been asked to review CGT and, as their name suggests, their focus is on how the tax operates rather than the policy itself. The scope of the review will include the various reliefs, exemptions and allowances which can apply. They will also be looking at the interaction of operating as a company or as an unincorporated business. The OTS will be particularly interested in any distortions to taxpayers’ personal...

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North Essex Development

Posted by on Jul 8, 2020 in Uncategorised | Comments Off on North Essex Development

When the developer comes knocking The hiatus in Local Plan preparation across the north Essex district councils has caused an outbreak of speculative approaches from promoters and developers. The Planning Inspectors’ rejection of 5 of the 6 proposed garden communities removes 9,000 houses from the draft Local Plans for the period to 2033, and an enormous 52,500 houses from the planned communities over the next 30-40 years. Local politicians had hoped that approval to the garden communities would settle the principal location of major development for decades to come. Instead we return to the...

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BPS 2020

Posted by on Mar 10, 2020 in Farming | Comments Off on BPS 2020

Basic Payment Scheme 2020 The 2020 BPS scheme opens for online applications on 12th March with a claim deadline of 15th May.  The scheme is primarily online and paper forms will only be sent on request. DEFRA have confirmed that the current system will remain in place for this year with payment cuts from 2021. Thereafter payments will continue to fall, on a trajectory still to be agreed, to zero in 2028.  The overall budget has been guaranteed for the duration of this Parliament. A new environment scheme, ELMS, as well as productivity initiatives, will be phased in with the large scale roll...

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Permitted Development Rights

Posted by on Mar 20, 2018 in Professional Services, Uncategorised | Comments Off on Permitted Development Rights

On the 12th March the housing minister announced further changes to the Permitted Development Rights (PDR) that affect farmers.   Under the current Part Q regulations the conversion of agricultural buildings to residential is limited to a maximum of 3 units and a cumulative total of 465sqm. From 6 April 2018 this will be relaxed to allow up to 5 units to be built. There can be no more than 3 larger homes, as under the old rules, with any additional properties being no larger than 100 sqm.   Permitted Development Rights for new agricultural buildings are currently limited to 465sqm...

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Changes to Probate Fees

Posted by on Mar 27, 2017 in Probate, Professional Services, Tax | Comments Off on Changes to Probate Fees

Probate fees are due to rise in May 2017. Following a consultation in 2016, significant increases in the fees payable for a grant of probate are due in May this year.  Currently the system requires a flat fee to be paid, which is, if carried out through a solicitor, £155 and if not, the fee is £215.  This will change in May to a banded fee, relative to the value of assets and the estate.  A table below shows the potential costs and significant potential increase, which could have implications on families, assets held and businesses involved within the probate. Value of Estate (before...

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