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Farm Business
Agricultural Matters
Tax implications.
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<blockquote data-quote="Goweresque" data-source="post: 7069267" data-attributes="member: 818"><p>Depends on what you invest in, and how big the gain is. You can make a gain of c. £12k/yr before paying any CGT, so if the gain is less than that there's no tax to pay. If there is a big gain (a development sale lets say) then you can roll that money over into other business assets and pay no tax. So a B&B would count, as long as you continued to run it as a B&B. But some buy to let rental properties would not, they are counted as investment assets. Qualifying assets would be more farmland, hotels, pubs, holiday lets, any type of business you like really, as long as you are running it as one after purchase. Anything that you are just renting out would be investment. Holiday lets are an odd one, they do qualify for roll over relief, despite being a rental type business, I guess its considered that you're doing enough work and taking enough risk that it qualifies as a business asset.</p></blockquote><p></p>
[QUOTE="Goweresque, post: 7069267, member: 818"] Depends on what you invest in, and how big the gain is. You can make a gain of c. £12k/yr before paying any CGT, so if the gain is less than that there's no tax to pay. If there is a big gain (a development sale lets say) then you can roll that money over into other business assets and pay no tax. So a B&B would count, as long as you continued to run it as a B&B. But some buy to let rental properties would not, they are counted as investment assets. Qualifying assets would be more farmland, hotels, pubs, holiday lets, any type of business you like really, as long as you are running it as one after purchase. Anything that you are just renting out would be investment. Holiday lets are an odd one, they do qualify for roll over relief, despite being a rental type business, I guess its considered that you're doing enough work and taking enough risk that it qualifies as a business asset. [/QUOTE]
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