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Filtered By Category: Agriculture

Aug 31 2017

Tax free gains on sale of land?

Categories: Agriculture

We often have clients who sell off small pockets of land, with the land normally being acquired by someone wishing to expand their garden or improve access to their property for example. We often have clients who sell off small pockets of land, with the land normally being acquired by someone wishing to expand their more

May 7 2017

Losses are not forever

Categories: Agriculture

A recent tax case heard before the Upper Tribunal has confirmed that sideways loss relief cannot be claimed by farmers in the sixth year of loss making, even for commercial trades carried out full time. This ruling reinforces legislation often referred to as the “hobby farming” rules. Sideways loss relief is useful to taxpayers who more

Feb 7 2017

Farming Scotland Conference provides inspirational business insight

Categories: Agriculture

Business improvement, growth and diversification were very much the focus of this year’s Farming Scotland Conference, with just a sprinkling of Brexit politics thrown in. The conference, which is now in its 14th year, once again took place in Carnoustie and was officially opened by the Provost of Angus, Cllr Alex King. As is befitting more

May 31 2016

EQ take part in the RSABI Great Glen Challenge

Categories: Agriculture

The RSABI Great Glen Challenge is in its 5th year, and 2016 will be the first year in which EQ has entered a team. This year’s event is taking place on Friday 26 August 2016 with a route spanning from Fort Augustus to Fort William while raising money for RSABI. Each member of the team more

May 31 2016

Farms and the Additional Dwellings Supplement

Categories: Agriculture

Land and Buildings Transaction Tax (LBTT) replaced Stamp Duty Land Tax (SDLT) in Scotland from April 2015 and careful consideration needs to be given when purchasing a farm which includes residential properties due to the recent introduction of the Additional Dwellings Supplement (ADS) on second properties. When calculating LBTT on the purchase of a farm more