CPD Training Seminars at 23 venues across the UK and In-House

Inheritance Tax and Agricultural Property Relief in a Changing Rural Environment

A SERIES OF ONE DAY REGIONAL SEMINARS FOR CHARTERED SURVEYORS

Inheritance Tax and Rural Property

For many years there have been special arrangements for rural property within the Inheritance Tax regime, these have principally been targeted at “working farmers” and forestry to enable farming family businesses to be able to continue despite them being very capital intensive. However, the rural economy is changing and categories of businesses and rural property which benefit from Inheritance Tax Relief are tending to be less clear cut. Whilst there have been  some well reported cases such as Antrobus and McKenna there are an increasing number of cases where H.M. Revenue and Customs are taking a more robust approach. It is important that Chartered Surveyors when advising their clients about organizing their affairs are very conscious that there could be major adverse taxation implications for some possible options.

One of the inherent difficulties with Inheritance Tax is that by the time a particular structure is challenged by the Revenue it is often too late to make any changes. This course aims to look at the whole spectrum of Inheritance Tax as it affects the owners of rural property; how it is owned, how it is occupied, trading structures and diversified activities.

PROGRAMME

9.45am Registration and Coffee
10.00am Seminar Begins

Basics of Inheritance Tax

• Transfers on Death
• Lifetime Transfers
• Potentially Exempt Transfers
• Reservation of Benefit

The Basis of Reliefs

• Agricultural Property Relief
• Occupancy Condition
• Partnerships
• Contract Farming
• Business Property Relief

11.30am Coffee

What Constitutes Agricultural Property

• Day to day management
• Equestrian Activities
• Environmental Schemes
• Related Assets such as Milk Quota
• Diversification
• Farmhouses
• Sporting and Amenity Value

1.00pm Lunch
2.00pm Afternoon Session Commences

Allocation of Debt to Assets

What Constitutes Business Property

The Position of the Landlord

• Where tenant is diversified
• Types of Tenancies

3.30pm Tea

IHT on Woodlands

Interaction of IHT and Capital Gains

5.00pm Close

VENUES AND DATES - Summer 2008

• Lechlade, Glos - Thursday 22nd May
• York - Thursday 5th June

FEE
The fee for the seminar is £120 plus £21.00 VAT, to include refreshments, lunch and full seminar documentations.

A SEMINAR CAN BE READILY AND PROFITABLY APPLIED
Each seminar is conducted in a friendly and informal way. Each is a mixture of lectures and discussion designed not to be tedious or intimidating, and to give delegates the maximum benefit. Full seminar documentation;  a useful reference book, will be provided to those attending the seminar.

CONTINUING PROFESSIONAL DEVELOPMENT
Each of the seminars can provide up to six hours towards CPD.

Discounts

Professional Development (UK) Limited. Registered in England No. 2918315
Tel: (01502) 575633 or E-mail: info@pdl-training.com