Tax Planning

Landowners and businesses operating in the rural and agricultural sector offer many unique tax planning opportunities, which we at EQ Agriculture are proactive to identify and advise on. We save our clients in this sector hundreds of thousands of pounds in tax on an annual basis through our tax planning initiatives across the range of taxes.

Income tax

The structure of a business, and the way in which the owners/participants are remunerated can alter the overall tax payable significantly. We encourage our clients to regularly consider whether their existing business structure is appropriate for their current and future plans.

Capital taxes

"Asset rich, and cash poor" is how many people operating in the rural economy would describe themselves. Planning to mitigate capital gains tax on asset sales and transfers, and to mitigate inheritance tax on death, is essential to prevent large tax bills from interfering with plans for the future. Those involved in farming enjoy the benefits of specific reliefs against capital taxes, and we ensure that our clients' affairs are organised in such a way as to take full advantage.

VAT and SDLT

VAT can be a very complex area, and we frequently advise on partial exemption situations, property transactions, and VAT claims and mis-statements. Similarly clients involved in property transactions need to know the SDLT implications before they proceed. Planning at an early stage can mitigate the effects of both taxes.

Our specialist agricultural knowledge, hand in hand with out taxation expertise, enables us to offer the best advice to our clients in this sector.

 

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