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Business Property Relief ("BPR")

Caravan Park Tax – CGT & IHT Issues

Caravan Park Tax – CGT & IHT Issues Introduction – Caravan Park Tax – The Facts & FAQs The caravan park industry is a rather varied one. At one end of the spectrum is the all-singing, all-dancing holiday and leisure parks. In many ways, it might be more like Center 

Badges of trade: is there a trading activity?

Badges of trade: is there are trading activity? Introduction – badges of trade Do not confuse the ‘badges of trade’ with the ‘badgers of trade’. Whilst the latter is an organisation of mercantile woodland creatures, the former is a set of key indicators that are used to determine whether a 

Furnished Holiday Lets & Business Property Relief

Business Property Relief and Furnished Holiday Lettings – To B(PR) or not to B(PR)? Tax Advice Update – The position on Furnished Holiday Lettings following the Graham Case… Where we are now following the Graham case? The Background IHT and Land-based businesses, have recently been something of a battleground between 

Agricultural Property Relief: Don’t Take It For Granted

Agricultural Property Relief: Don’t Take It For Granted Introduction Agricultural property relief (APR) provides a hugely valuable relief from inheritance tax for land used for agriculture. As such the securing and preservation of the availability of the relief is central to inheritance tax and estate planning for farms and other 

Furnished holiday lets: the tax position

Furnished holiday lets have long benefited from favourable tax treatment giving them advantages over other property lettings. Furnished holiday lets: the tax advantages Those advantages mean that they are treated more like trading businesses than property investments meaning that: • Capital allowances can be claimed on expenditure that are not 

Directors Loan Account – is it as tax efficient as it seems?

Have you ever transferred a partnership or a sole trader to a limited company? Typically, the strategy involves “selling” the trading business to the company and instead of receiving cash, the company credits the proceeds to the director’s loan account (DLA) which basically means the company owes the purchase price 

Business Property Relief (BPR)

BPR is a valuable inheritance tax relief, offering up to 100% relief against inheritance tax on qualifying business assets. What qualifies? You can get 100% Business Relief on: a business or interest in a business shares in an unlisted company You can get 50% Business Relief on: shares controlling more