CAT -Bite the bullet?

Wacker07

Registered User
Messages
5
If you are unable to take advantage of the dwindling CAT reliefs on offer on a pending farm gift , Agri relief , business relief , etc are there any measures available other than biting the bullet and coming up with the cash to pay the Tax? There is no CGT offset either as the value of the farm has tanked so minimal CGT / retirement relief if any to take advantage of.
Wacker
 
If you can't qualify for Ag Relief presumable as you can't meet the Farmer test and you can't avail of business asset relief then there is not much left for you.

These are very generous relief reducing the value by 90% but require proper planning.
 
Would it be feasible to dispose of some non-agricultural assets to bring your agricultural percentage up? Or if you are married could you transfer some such assets into your spouse's name?
 
Back
Top