Major Changes to Inheritance Tax Relief – What It Means for Business Owners and Farmers
If your business or farming assets are worth more than £1 million, it’s time to revisit your inheritance tax planning.
13 March 2020
Land remediation relief is a valuable and often over-looked relief, which was designed to encourage investment in land that was previously derelict or contaminated and bringing it back into productive use.
Land remediation relief (LRR) is a valuable tax relief which applies to all commercial property sectors, claimable by any company subject to corporation tax.
The relief’s intended to promote the remediation and development of blighted land and buildings and applies to expenditure on various activities including some of the following:
The time limit for retrospective claims is up to 3 years.
Our Business Tax team and Property experts work together to ensure you’re claiming all the reliefs you’re entitled to.
If your business or farming assets are worth more than £1 million, it’s time to revisit your inheritance tax planning.
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