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What you need to know about VAT and farm taxation
Manage episode 439345765 series 3599553
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In the first episode of the Farm Finance podcast, we will take a close look at farm taxation and what exactly farm families need to be aware of and how they could potentially make the current taxation structure, ahead of Budget 2025, work best for them.
We discuss what agricultural reliefs are available including consanguinity (stamp duty) relief which provides for relief from stamp duty on the transfer of agricultural land or farms to certain farmers who are aged under 35.
We also examine what leasing relief is available and explain how a seven year holding requirement applies to land purchased under a contract entered into on or after, 1 January 2024.
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