Quota broker Ian Potter looks at self invested personal pension plans, and considers the future of the Earmers Quota Bank. Anyone interested in getting a discount of at least 25% - or possibly as much as 40% - on their land and milk quota purchase? Ithought that would get your interest. As reported briefly in December's Dairy Farmer, there is a massive opportunity for farmers to take advantage of tax legislation in this regard that has largely been unexplored before, and which could result in the above discount -depending on how much tax you pay. It's fairly complicated, but centres around personal pensions and the 25% or 40% tax rebate (depending on your level of income tax) that the Government gives on payments into a personal pension.
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