Farming: partnerships revisited
Popplewell, N.
Farming: partnerships revisited - 2003 - Taxation 150(3897) 6 March 2003, 549-552(4) .
Examines the effect of recent legislation on the milk quotas trade. DEFRA published a consultation paper in early 2003 for regulations to implement changes to the Dairy Produce Quotas Regulations. This follows the judgment in the European Court of Justice case, "Thomsen" (C-401/99) in which the court ruled that, upon expiry of a rural lease of a dairy holding, the transfer to the lessor of the quota was possible only where the lessor had the status of a producer within the meaning of EC Regulation 3950/92. The proposed changes will affect non-producing quota holders in the UK who will no longer be able to lease out their quota indefinitely. Examines issues raised by the proposals such as entering into partnership in order to keep the quotas, corporation tax changes, taper relief, use of companies, establishment of a company and inheritance tax. Provides a case study.
MILK QUOTAS
FARM BUSINESSES
EUROPEAN UNION LAW
MILK PRODUCERS
FARM BUSINESS MANAGEMENT
Farming: partnerships revisited - 2003 - Taxation 150(3897) 6 March 2003, 549-552(4) .
Examines the effect of recent legislation on the milk quotas trade. DEFRA published a consultation paper in early 2003 for regulations to implement changes to the Dairy Produce Quotas Regulations. This follows the judgment in the European Court of Justice case, "Thomsen" (C-401/99) in which the court ruled that, upon expiry of a rural lease of a dairy holding, the transfer to the lessor of the quota was possible only where the lessor had the status of a producer within the meaning of EC Regulation 3950/92. The proposed changes will affect non-producing quota holders in the UK who will no longer be able to lease out their quota indefinitely. Examines issues raised by the proposals such as entering into partnership in order to keep the quotas, corporation tax changes, taper relief, use of companies, establishment of a company and inheritance tax. Provides a case study.
MILK QUOTAS
FARM BUSINESSES
EUROPEAN UNION LAW
MILK PRODUCERS
FARM BUSINESS MANAGEMENT