Farm Tax Brief

摘要

From the Revenue: Gains tax: relief on disposal of a business (entrepreneurs' relief); Briefing: CGT and the agricultural landlord; Briefing: Occupation of farmhouses — where should the fanner live? Briefing: VAT — dealings between partners and partnerships; Topic of the month: CGT reforms — the return of retirement relief - The Chancellor's response to the clamour by small business interests against the 18% flat rate of capital gains tax (CGT) has been distinctly underwhelming. A flat rate, of 10% rather than 18%, will be available in limited circumstances. The HRMC press announcement is reproduced in 'From the Revenue' on page 2. Much of it will seem familiar to veteran readers, because of course the criteria for the 10% 'entrepreneur relief are very much those which applied to CGT retirement relief. It is, of course, just under 10 years since a new Chancellor delivering his first Budget announced' We must do more to increase the quality and quantity of long-term investment ... Follounng extensive consultation I have decided to phase out complex allowances' One of those complex allowances was retirement relief. Now the complexities are being revived, for a slightly different purpose 10 years later.