The darling buds of May
Safe to graze?
Tax implications of converting barns and selling development land.
Inheritance tax implications of the diversification of activities
VAT implications of new planning opportunities for barn conversions
JOHN WARD FCA highlights some important tax issues for farmers following the Foot and Mouth epidemic.
ALTHOUGH SOME FARMERS have had their animals culled and been paid financial compensation, the future looks difficult and at this stage the tax implications are very important. Various reliefs are available for ordinary trading stock, but production stock warrants further attention. The following is the tax position where compensation is received in respect of production herds.