Increasingly those running a farming business need to look closely at opportunities to diversify their revenue streams as the more traditional activities become less sustainable on their own. This title is written for the accountants, tax advisers and others who have these businesses or individuals as their clients. It explores the tax planning opportunities available in different circumstances such as re-use of redundant buildings and planting more woodland. Relevant cases are considered throughout as is the increasing focus of HMRC towards the reliefs available to farmers. The sixth edition covers a number of important new developments: - the Agriculture Bill 2019-20 which has the main aims of reforming UK agriculture policy, replacing the current subsidy system, supporting land-owners and farmers in the transition away from the Common Agricultural Policy and introducing a new Environmental Land Management scheme - the results of the consultation on tenancy reform - New CGT returns from 5 April 2020 (need for a 30-day disclosure) - The new Annual Investment Allowance set at GBP1 million - Implications from the pressure to plant more trees (and promise of more subsidies) to increase the profitability of woodland - The tax impact of 'rewilding' and 'agroforestry'

Author Biography

Julie Butler has her own firm of chartered accountants, Butler & Co, which acts for a large amount of the farming and equine industry and lectures widely on the subjects surrounding farm diversification.