Farmhouses, farm cottages and CGT deferment reliefs
Series: Farm Tax Brief ; 20(1) February 2005, 1-2(2)Publication details: 2005Subject(s): Summary: Provides insights into the peculiarities of the Inheritance Tax relief for agricultural residential property and the relatively straightforward Capital Gains Tax (CGT) treatment of agricultural residential property and other assets passing on death. Discusses the case for making lifetime transfers of farmhouses and cottages and the procedures involved in doing this in varying circumstances. Concludes that currently farmers and other owners of agricultural property can make gifts of agricultural residential property without suffering an immediate CGT liability or removing the donee's right to claim the CGT private residence exemption in the future.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS68876 (Browse shelf(Opens below)) | 1 | Available | 129015-1001 |
Provides insights into the peculiarities of the Inheritance Tax relief for agricultural residential property and the relatively straightforward Capital Gains Tax (CGT) treatment of agricultural residential property and other assets passing on death. Discusses the case for making lifetime transfers of farmhouses and cottages and the procedures involved in doing this in varying circumstances. Concludes that currently farmers and other owners of agricultural property can make gifts of agricultural residential property without suffering an immediate CGT liability or removing the donee's right to claim the CGT private residence exemption in the future.