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Posted by dosy90 (U7649541) on Thursday, 1st March 2007
Doesn't Brian know about the exemptions from IHT that farms attract?
He does now, it was mentioned in last night's episode.
Of course he does, which is why he was talking about things like their non-agricultural holdings: the holiday cottages.
Also HMRC have been tightening up on this exemption where "farmland" has been bought but not really worked or managed by the owner (all those City whizz-kids with their bonuses), so if he's thinking of contracting out the bulk of the work he'd want to know where that would leave him for IHT.
Keri
I hope you are not suggesting that super Debbie might have got it wrong?
bob
I hope you are not suggesting that super Debbie might have got it wrong?
Ìý
Oh, I do hope so!
Sun, 04 Mar 2007 18:36 GMT, in reply to Keri Davies - Host in message 3
HMRC have been tightening up on this exemption where "farmland" has been bought but not really worked or managed by the owner (all those City whizz-kids with their bonuses)Ìý
Hurrah !
The advice we've received is that as long as they are closely managing the work (and there would still be other enterprises like the deer, strawberries etc) the farm would still be exempt from IHT.
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