Trading and agricultural assets

Where a trade is carried on, there are two most important tax reliefs potentially available.  Entrepreneurs' relief reduces Capital Gains Tax on a sale of the assets (or shares in a trading company or group) from 20% to 10%.  Business Relief eliminates Inheritance Tax when there is a chargeable transfer on death or in life.  With agricultural businesses, there is Agricultural Property Relief from Inheritance Tax which has different rules from Business Relief.

Unfortunately, the conditions for these reliefs to apply are somewhat tortuous and we have seen many cases where the reliefs have been denied on technicalities.  We can advise on methods of ensuring that this doesn't happen.  Where there is a sale of a trade or a company in the offing, our advice will go hand in hand with that on possible business restructuring and we stress the importance of early engagement to ensure that the assets are in the right place at the time of the sale.

To discuss this with us on a non-judgmental, discrete and no cost basis call our helpline 0800 001 6686 or contact us today.

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Gary Brothers and Mike Leigh are regular contributors to a number of professional forums.  The current blogs are here, and our archived blogs can be found by checking on the link below.

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