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Milk quotas: legal and taxation implications

By: Language: English Series: Law Society`s Gazette ; 85(3) 20 January 1988, 19-20(2)Publication details: 1988Subject(s): Summary: Examines the treatment for tax purposes of payments received for quota transfer , whether CGT is payable on the disposal of an asset, and the payment of VAT . Also looks at difficulties which can arise with quota where there has been a mortgage of land in favour of a bank, the position of quota in connection with the sale or purchase of a dairy farm, and the effect of quota on grazing agreements .

Examines the treatment for tax purposes of payments received for quota transfer , whether CGT is payable on the disposal of an asset, and the payment of VAT . Also looks at difficulties which can arise with quota where there has been a mortgage of land in favour of a bank, the position of quota in connection with the sale or purchase of a dairy farm, and the effect of quota on grazing agreements .