Property and transaction planning

When looking to purchase or transfer land and buildings, there are a number of tax issues to take into account, including Stamp Duty Land Tax (SDLT).

SDLT is payable when property or land is bought or transferred, and includes any assets such as farm buildings, fixtures and fittings, and the value of goodwill attached.

The team at Nicholsons can also undertake the appropriate due diligence to ensure a successful and profitable transaction.

Furthermore, if you are looking to sell your farming business, you can take advantage of entrepreneurs’ relief, subject to certain conditions, in order to reduce the capital gains tax due.

The liabilities on gains can also be deferred through the use of roll over relief when the proceeds of the sale of business assets are invested in new assets.

Falling foul of the complex web of tax legislation can result in serious penalties, so it is important to seek professional advice. At Nicholsons, we can ensure each transaction is conducted as tax-efficiently as possible, while remaining fully compliant with all the regulations.

For more information and guidance, please contact us.

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