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.
 

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HSENI names new farm safety champions

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Written by William Kellett from Agriland

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The Health and Safety Executive for Northern Ireland (HSENI) alongside the Farm Safety Partnership (FSP), has named new farm safety champions and commended the outstanding work on farm safety that has been carried out in the farming community in the last 20 years.

Two of these champions are Malcom Downey, retired principal inspector for the Agri/Food team in HSENI and Harry Sinclair, current chair of the Farm Safety Partnership and former president of the Ulster Farmers’ Union (UFU).

Improving farm safety is the key aim of HSENI’s and the FSP’s work and...
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