15 Mar 2018 | Equine & bloodstock
Business Property Relief (BPR) can provide Inheritance Tax Relief on business assets at a rate of 50% or 100% of their value. This relief can be very valuable but to support a claim HMRC require the business to be a trading business: defined as not wholly or mainly...03 Nov 2017 | Equine & bloodstock
Many of our clients, especially in the eventing, show jumping, dressage and racing world, buy and sell horses as part of their trade.The sale of horses is a taxable supply for VAT purposes with VAT chargeable at 20% (unless the second hand margin scheme applies) for...11 Apr 2017 | Equine & bloodstock
We often suggest to our land owning clients that to benefit from Agricultural Property Relief (APR), which can give up to 100% Inheritance Tax relief on the agricultural value of land, they need to be accepted as farming their land. One way of demonstrating this is by...