The Perfect Storm
This time last year we entered the spring with a level of positive optimism, crops looked well, fertiliser was cheaper than last year, grain prices where strong and potential output looked good. This gave us confidence to provide the crop with a robust disease control strategy. Once all the major decisions had been made, in terms of level of expenditure, the markets started to collapse. This slide continued as a result of the strong pound, high global production and falling demand. The only light at the end to the tunnel was that most growers had taken advantage of the higher prices at...
Read MoreNet 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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