Beware of BNG agreement tax complexities, farmers told

摘要

Accountants have said that farmers will need to look at the fine print of their individual contract to understand the full taxation implications before entering into a biodiversity net gain (BNG) agreement.Gary Markham, director of tax advisers Land Family Business, said the new planning requirement to deliver an uplift in biodiversity following development has created a substantial opportunity for landowners to obtain private funding for habitat management.However, BNG agreements also bring significant taxation implications that can impact the wider farming business, so appropriate planning and structures need to be put in place to minimise the tax risks.