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FC Wales smooths passage to important woodland

With its fascinating historical features, enchanting scenery and strong links to the end of the last major ice age, i Parkwood on the Gower is a popular tourist location. Forestry Commission Wales has stepped in to ensure a smoother passage into this environmental jewel after the Welsh Government woodland became the victim of its own alluring beauty. The road allowing access to the site of special scientific interest (SSSI) was showing signs of serious wear and tear, with badly pot-holed areas testifying to Parkwood’s popularity.

 
Saffery Champness comment on CAP Reform announcement

Commenting on the announcement on CAP Reform by EU Farm Minister, Dacian Ciolos, Andrew Arnott, a partner of  Saffery Champness Landed Estates & Rural Business Group says: “There was not much in the announcement that had not already been leaked. However, it confirms the intention to distribute subsidies more evenly by way of a cap on payments to farmers at 300,000 euros (£261,240) per year.  A progressive levy, to be applied on all payments exceeding 150,000 euros (£130,620), was also announced as a proposal. Assuming that the proposals will be approved by both the EU parliament and all member states, this will be bad news for many large arable farmers and some medium scale farming businesses, including those in the uplands.It remains to be seen whether the ‘sustainable and inclusive growth’ for European agriculture can really be achieved through these proposals.  I think they could, as they stand, have the opposite effect, acting as a disincentive to invest for farm businesses that are highly-mechanised with lower staffing levels”.

 
Leaked proposals for the reform of CAP entitlements

News has recently been leaked from the European Commission that farmers who claim more than €150,000 from the direct support element of the CAP (Pillar1), will see their entitlement payments progressively capped.  Commenting on the leaked proposals Mike Harrison, a partner of Saffery Champness Landed Estates & Rural Business Group, says: “There is a strongly worded proposal for progressive cuts in the entitlement payments above €150,000 ( £127,000) with a cap of €300,000 (£255,000)”.   Whilst the new regulations will apparently incorporate an allowance which reflects the farm’s wages bill, which is welcome news and should mean that both larger and smaller farms are treated equally, there will be a discrimination for those using external contractors

 

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Home Legal update Agricultural land buyers 'should seek professional advice'
Agricultural land buyers 'should seek professional advice' PDF Print E-mail
Written by Charlie Jacoby   
Tuesday, 09 February 2010 10:04


Robert Fairey

People thinking of investing in agricultural land in order to avoid inheritance tax (IHT) should ensure they take professional advice before moving ahead with their plan says Brown & Co land agent Robert Fairey.

Agricultural land may qualify for IHT relief on two grounds - agricultural property relief and business property relief.

It is thought this has helped to support demand for agricultural land in East Anglia and Robert Fairey, a Brown and Co land agent, recently named IHT relief as an important factor in the thinking of "buyers looking to acquire sizeable acreages". 

However, Julie Butler of chartered accountants Butler and Co warned that the system is not always straightforward.

Answering a question from a Horse & Hound reader about buying a stud farm, Ms Butler said the owner would have to be able to prove it operated on a commercial basis for it to qualify for IHT relief.

She also explained that some uses of farmland are not regarded as agricultural for tax purposes.

Ms Butler added that although there can be tax advantages associated with a stud farm business, "it would be worthwhile taking professional tax advice before moving the idea forward".


 
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