Brexit and the rural economy

A first reaction to the referendum 'Brexit' decision from a group of postgraduate students at Harper Adams University who have been studying Land Use and Management this week. The 18 students have worked rapidly in small groups this morning to appraise the impact on different sectors of the rural economy, and the actions that land … Continue reading Brexit and the rural economy

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Budget 2016: Rural and property points

Headline points from the 2016 Budget for the rural economy and property. Get out of sugar, get into tunnelling, run a micro-business on the side, infrastructure needs you, take your capital gains now, incorporation is looking better and better unless you intend to sell your professional services to the public sector, drink whisky and beer … Continue reading Budget 2016: Rural and property points

80% of tied cottage occupiers could face tax on empty bedrooms

Thank you to everybody who responded to my survey on tied housing.  I have now offered the following observations in response to the HMRC consultation's suggestion that the tax and National Insurance treatment of tied housing as a benefit in kind should be based on its full rental value. The suggestion that all employer provided … Continue reading 80% of tied cottage occupiers could face tax on empty bedrooms

Trustee Development Spring 2015

The personal responsibility of an estate trustee far exceeds that of a company director, shareholder, limited liability partner or sole trader. This responsibility extends to settlors and beneficiaries, and many others besides. Many people rely on rural estates for their livelihood and homes. Estates are under wider public scrutiny on a scale never experienced before. … Continue reading Trustee Development Spring 2015

Budget 2014: Rural points

Nothing very obvious grabs the rural headlines in today's budget other than the extension of CGT rollover relief to the new Basic Farm Payments.  This measure is backdated to 20 December 2013, the date the new payment entitlements were introduced. The single most significant measure for most rural businesses will be the increase and extension … Continue reading Budget 2014: Rural points

Woodland Complexities

The latest Rural Briefing from RICS addresses the challenging area of woodland taxation and valuation.  A lot can go wrong as the examples we presented at yesterday's South East Rural Update Conference demonstrated.  One wood worth £70,000 but potentially five different Inheritance Tax bills ranging from nil to £28,000.  Capital Gains Tax was little better … Continue reading Woodland Complexities

CAP: Agric Fundamentalists v Enviro Fundamentalists – some inconvenient points

Decision week for Defra Secretary Owen Paterson.  He is due to announce the 'modulation' rate for England by the end of the week.  Will it be 9% as the NFU wants, or 15% as the RSPB demands?  Modulation is EU-speak for the amount of farming support that is diverted (modulated) into more general rural development … Continue reading CAP: Agric Fundamentalists v Enviro Fundamentalists – some inconvenient points