Farming’s taxing issues addressed | 29 April 08
THE taxing issues surrounding farm ownership will be addressed by a leading North lawyer at a national conference this week.
Alison Hall, partner in the private wealth team at Newcastle-based law firm Ward Hadaway, will give a talk on the topic at the Mastering Farm Tax Issues conference in London on Thursday, May 1.
The event will see land agents, land owners, accountants and legal representatives from across the UK gather to hear about latest developments in agricultural taxation.
Ms Hall’s talk will address how HM Revenue and Customs has tightened up on rules governing the circumstances in which farmers can claim tax relief on their farmhouses.
She explained: “HMRC is becoming much stricter on allowing agricultural property relief, particularly on farmhouses.
“In the last few years, there have been a number of high profile cases that have led the Revenue to tighten up its definition governing who can be classed as a farmer and therefore qualify for tax relief.
“With the value of farmhouses rising over recent years, there can now be considerable sums at stake so it is important for farmers and their agents to be aware of the current situation.”
Ms Hall has more than a decade’s experience advising on a range of personal tax and inheritance issues and advises a number of prominent agricultural clients.
Speaking about next week’s conference, she said: “It is great to be invited to speak at this national event and demonstrates the high regard in which Ward Hadaway’s agricultural law expertise is held.”