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Description of Business and Agricultural Property Relief

Business and Agricultural Property Relief, Fifth Edition is a practical guide to the rules of inheritance tax relief for business, farm, woodland and heritage property. It examines both legislation and case law in detail, and provides worked examples to illustrate how principles of tax relief are applied in practice. Numerous references to HMRC guidance and Manuals are also included. This book discusses everyday situations that are likely to be encountered in practice and provides guidance on compliance, along with tips for saving clients' tax. Most importantly it contains numerous examples of pitfalls to avoid in this complex area of tax law. It covers topics and questions such as: * What constitutes agricultural property? * What is treated as business property?
* The definition of woodland * The types of property that attract heritage relief * How reliefs interact * How reliefs may be lost * Valuable planning ideas * Specific specialist subjects such as holiday lettings, horses, Lloyd's underwriters, heritage maintenance funds and the treatment of royalties of deceased composers This fifth edition has been comprehensively revised to take account of recent legislation and cases including: * Finance Act 2006 - particularly its impact on inheritance tax * Finance Act 2008 - particularly the impact of the transferable nil rate band on will planning for business and agricultural properties * Finance Act 2009 - particularly the relaxation of territorial restrictions on agricultural and woodland properties * Swain Mason v Mills & Reeve * Vinton v Fladgate Fielder * Trustees of Nelson Dance v HMRC * McCall v HMRC * Earl of Balfour v HMRC * Atkinson v HMRC

Title Information

ISBN:

9781845923440

Pages:

672 pages

Format:

Paperback

Product Code:

102410

Publisher:

Bloomsbury Professional

Published:

01/06/2011

Edition:

5th New edition

Press and Industry Reviews

'''...every practitioner would benefit immensely from having this book. A practical book - this is a major recommendation. Taxation Magazine 2003 ''Scholarly! If this review was confined to a single word - of coures there is more to be said than that! STEP Jou''';

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About Toby Harris and Iris Wunschmann-Lyall and Mark McLaughlin

Toby Harris LLB CTA TEP has been working in the area of private client law and tax for 40 years. Since 1996 his own tax consultancy has grown steadily, serving solicitors and accountants in England and Wales. Toby has worked extensively to train the next generation of trust and probate professionals and will writers. The experiences of his career have been distilled into this work so that he can share his knowledge of the pitfalls and how to avoid them.