Sam Kirkham

Albert Goodman partnership wins significant agricultural property relief case for farming family

Leading South West chartered accountants and tax consultants, Albert Goodman, in partnership with law firm Clarke Wilmott, wins agricultural property relief (APR) case for client, who receives an inheritance tax repayment of approximately £140,000 plus interest.  The win overturns HM Revenue and Customs’ (HMRC) decision after two years of correspondence. Despite accepting HMRC’s argument at… Read more

To Incorporate or not to Incorporate, that is the question?

Most businesses start out life as a partnership but may later become limited companies, usually because the business has grown significantly.  Fully incorporating the business, by transferring it to a limited company offers substantial annual tax savings.  Company corporation tax rates are 20% compared to personal income tax rates of up to 47%.  Therefore, for… Read more

New farm dwellings – the lowdown

New legislation, published in March this year, sees a relaxation in planning laws to encourage the conversion of existing buildings in the countryside as opposed to building on greenfield sites. Paul Cowen’s article in the May edition of the Dairy Farmer outlined the planning regulations and opportunities for farm owners. For those thinking of converting… Read more

Changes to Tax Relief for purchases and Plant and Machinery

There are a number of changes to come regarding capital allowances, the tax relief obtained on the purchase of plant and machinery. Annual Investment Allowance (AIA) The AIA provides a 100% deduction for the cost of most plant and machinery (not cars) purchased by a business up to an annual limit and is available to… Read more