Limited companies

essexpete

Member
Location
Essex

I have not access to full article as too tight to subscribe.
If a farming family transfers the business to a company with family members shareholders and directors how would the land be treated if owned by a family member. Would a rent have to be shown? Could it jeopardise IHT planning if the owner died and the land showed as investment?
 

farmerdan7618

Member
Livestock Farmer
Location
Somerset
Can create IHT issues, but depends on what type of land it is. Anything that might go for development or woodland likely to be a problem.

Rent is optional and has implications for capital gains tax, should it be sold of course.

I do lots of business structure planning, feel free to PM me if anyone wants a chat about it.
 

Latest Poll on TFF

  • Yes

    Votes: 22 14.9%
  • No

    Votes: 126 85.1%

JCB launches Fastrac ‘iCon’

  • 154
  • 0
Written by Charlotte Cunningham from CPM Magazine

JCB has launched new Fastrac 4000 and 8000 Series tractors with an all-new electronics infrastructure which is claimed to deliver higher levels of performance. According to JCB, the new Fastrac iCon operator environment has three key features: iConfigure – creating a bespoke control experience for every operator iConnect – integrating advanced precision agriculture technology iControl – redefining operation through new driveline software The 175hp to 348hp (133kW to 260kW) Fastracs feature the new iCon armrest console and touch-screen display to provide flexibility in operator allocation and operator information, as well as a new transmission control strategy to enhance operator comfort and powertrain efficiency, says the manufacturer...
Top