This document summarizes key topics discussed at a Rural Professionals Breakfast event on 13 February 2013. The following were some of the main issues covered:
1. CAP reform uncertainty and the need for transitional arrangements in 2014.
2. Rising concerns about disease control in animals and plants. Bovine TB and Ash dieback were mentioned.
3. Updates on tax changes impacting rural businesses, including restrictions on agricultural ties, business property relief, and the introduction of an annual residential property tax.
4. General discussions on current economic pressures facing the agricultural industry like poor crop yields, rising food and input costs, and land supply shortages.
The document discusses factors that will influence the debate around reforming the Common Agricultural Policy (CAP) after 2020. It outlines the European Commission's process for developing proposals, including public consultations. Survey results showed most respondents want the CAP to address challenges like climate change, environmental protection, and generational renewal. The Commission is considering scenarios that shift support towards rural development, innovation, and risk management. Prospects for the CAP budget are uncertain due to new EU priorities and Brexit. Cuts may fall disproportionately on certain member states or policy pillars. Political constraints could complicate reaching agreement on reforms by 2020.
This document summarizes a meeting of the IEA WIND TASK 26 PROJECT on examining the value of wind energy to Ireland. It outlines three wind energy scenarios studied: no new wind, meeting domestic targets, and enabling UK to meet targets through Irish wind exports. The study found that wind energy results in limited impact on consumer bills, improves Ireland's energy balance of payments, and provides net economic benefits through jobs and economic growth outweighing infrastructure costs. Exporting wind energy could further grow these benefits if costs are lower than UK alternatives like offshore wind.
This document summarizes the potential impacts of Ireland's transition to the Integrated Single Electricity Market (I-SEM) on ESB power stations. Key impacts include uncertainty around the new Capacity Revenue Mechanism and how it will value existing versus new generation capacity. There is also risk from changes to how renewable energy will be dispatched and incentives. However, a more liquid forward market and increased renewables also provide opportunities for ESB to develop new technologies and contracts. Overall the I-SEM transition presents both risks and opportunities for ESB as the largest generator.
Blake Lapthorn solicitors' Rural team held a Rural professionals' breakfast briefing on the legal issues currently facing the Rural sector on 5 February 2013.
Result-based agri-environmental payments and the WTO rulesLars Brink
Agri-environmental payment schemes can pay based on actions taken or results achieved (outcomes). Interest in developing result-based schemes seems to be growing. Questions arise about the compatibility of result-based payments with the WTO Agreement on Agriculture. This presentation examines some of these questions in the context of the EU Common Agricultural Policy.
The document discusses factors that will influence the debate around reforming the Common Agricultural Policy (CAP) after 2020. It outlines the European Commission's process for developing proposals, including public consultations. Survey results showed most respondents want the CAP to address challenges like climate change, environmental protection, and generational renewal. The Commission is considering scenarios that shift support towards rural development, innovation, and risk management. Prospects for the CAP budget are uncertain due to new EU priorities and Brexit. Cuts may fall disproportionately on certain member states or policy pillars. Political constraints could complicate reaching agreement on reforms by 2020.
This document summarizes a meeting of the IEA WIND TASK 26 PROJECT on examining the value of wind energy to Ireland. It outlines three wind energy scenarios studied: no new wind, meeting domestic targets, and enabling UK to meet targets through Irish wind exports. The study found that wind energy results in limited impact on consumer bills, improves Ireland's energy balance of payments, and provides net economic benefits through jobs and economic growth outweighing infrastructure costs. Exporting wind energy could further grow these benefits if costs are lower than UK alternatives like offshore wind.
This document summarizes the potential impacts of Ireland's transition to the Integrated Single Electricity Market (I-SEM) on ESB power stations. Key impacts include uncertainty around the new Capacity Revenue Mechanism and how it will value existing versus new generation capacity. There is also risk from changes to how renewable energy will be dispatched and incentives. However, a more liquid forward market and increased renewables also provide opportunities for ESB to develop new technologies and contracts. Overall the I-SEM transition presents both risks and opportunities for ESB as the largest generator.
Blake Lapthorn solicitors' Rural team held a Rural professionals' breakfast briefing on the legal issues currently facing the Rural sector on 5 February 2013.
Result-based agri-environmental payments and the WTO rulesLars Brink
Agri-environmental payment schemes can pay based on actions taken or results achieved (outcomes). Interest in developing result-based schemes seems to be growing. Questions arise about the compatibility of result-based payments with the WTO Agreement on Agriculture. This presentation examines some of these questions in the context of the EU Common Agricultural Policy.
Bournemouth - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This document provides a directors' update for Bournemouth Essential covering the 6-month period of November 2019. It discusses navigating turbulent times amid political and economic uncertainty. The document announces new appointments to the firm and provides an agenda for an upcoming seminar covering various financial and tax topics, including property tax matters, financial reporting, VAT updates, and risks to businesses. It aims to help clients make sense of the current chaotic environment.
Energy policy and governance - principles, Rakesh Kacker, Director India Habi...ESD UNU-IAS
This lecture is part of the 2016 ProSPER.Net Young Researchers’ School on sustainable energy for transforming lives: availability, accessibility, affordability
Guidance on the Streamlined Energy and Carbon ReportingEMEX
Streamlined Energy and Carbon Reporting (SECR), the proposed carbon reporting scheme is set to replace the Carbon Reduction Commitment (CRC), and its anticipated start date of April 2019 is approaching.
This session offers guidance on how organisations can prepare, what will be the qualifying criteria and how the new reporting framework will benefit the companies.
Even though the ink is hardly dry on the 2013 CAP reform, thoughts are turning already to the prospects for the next reform. In this presentation I discuss the likely economic context for agriculture in the coming years and some of the main issues - direct payments, market crises and risk management, greening, soil health and climate policy - likely to be on the agenda for the next CAP reform. However, those seeking reform will have to address a widespread sense of 'reform fatigue'.
Presented by Jonathan Gheyssens, UNEP, Luxembourg 29th November 2019
https://events.globallandscapesforum.org/agenda/luxembourg-2019/day-1-2/interactive-session-8/
The document summarizes the European Commission's proposals for the Common Agricultural Policy (CAP) from 2014 to 2020. Key points include:
- The CAP budget will remain roughly flat in nominal terms but decline in real terms. Funding will be redistributed between Pillars 1 and 2.
- Pillar 1 covers direct payments to farmers. The Commission proposes changes to eligibility criteria and introduces new schemes like greening requirements, payments for young farmers and in less favored areas.
- Pillar 2 covers rural development. It will have less rigid funding categories and increase the minimum spent on environmental objectives.
- Cross compliance rules on statutory management requirements and good agricultural practices will continue to apply across both pillars.
This document summarizes alternatives to traditional power purchase agreements (PPAs) for renewable energy projects. It discusses merchant operations which involve selling electricity at spot market prices, but notes this is risky without hedging contracts. It then focuses on the Australian Capital Territory government's plan to source 90% of its electricity from renewables by 2020. This includes past reverse auctions that awarded solar projects feed-in tariffs. An upcoming auction in August 2014 will provide 200MW of wind projects with 20-year feed-in tariffs. The document analyzes factors like the auction criteria and risks of investing in the ACT plan. It concludes the ACT plan is a good example of developing large-scale renewables at a competitive price but challenges
The document summarizes the agenda and presentations for the ADBA Spring Members Meeting held on 18 April 2018 at Bird & Bird LLP in London. Key topics included:
1. Welcome and introductions from Charlotte Morton of ADBA and Levent Gürdenli of Bird & Bird LLP.
2. An overview of Bird & Bird LLP as an international law firm and their energy and utilities practice.
3. A presentation on the political context for anaerobic digestion in the UK, including the potential impacts of Brexit, public finances, climate change targets, and opportunities for the industry.
4. An update on the Non-Domestic Renewable Heat Incentive and
Towards cleaner energy - a collaborative world effortsSampe Purba
This document discusses Indonesia's commitment to transitioning to cleaner energy sources. It outlines Indonesia's large potential for renewable energy like solar, wind, hydro, and geothermal, but notes that currently only a small percentage of 2.5% of this potential is being utilized. The document emphasizes that the transition must be collaborative and consider each country's circumstances, and that developed countries who polluted more have more responsibility to reduce emissions. It concludes that the transition principles of no one being left behind and mutual benefit between countries are important to guide the process.
RAP EU emergency measures assessment -final.pptxBramClaeys3
Regulatory Assistance Project (RAP) provides an assessment of various emergency policy measures to address the energy crisis in Europe. They find that demand reduction efforts and targeted financial support are most effective. Price signals are still needed to avoid rationing. Wholesale interventions like gas price caps face challenges in ensuring cost savings are passed to consumers without increasing demand and risk of blackouts. Group gas purchases and infra-marginal rent capture may offer opportunities if implemented properly.
Succession Planning Presentation Wr And Bljendacott
The document discusses succession planning for farming businesses. It outlines some common barriers to passing the farm business to the next generation like children not wanting it or tax issues. It then provides tips for introducing children into the business gradually through employment or partnership. The document also discusses options for retaining ownership of land like family business tenancies and limited companies. It covers inheritance tax considerations and asset protection planning.
Janet Dwyer's presentation to the Land Economy Department at the University of Cambridge, discussing the implications for the agriculture sector since #Brexit.
two suggestions on the aspect of food (chain) policy for a workshop organised by DG Agri May 2017 in Brussels. Intended to be a bit provocative to stimulate discussion
Exeter - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Taunton - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
The presentation given by Simon Dixon Smith of Land Partners at the CLA's CAP Update event held on Tuesday 3 December 2013 at The Bell Hotel, Stilton, near Peterborough.
Mr Dixon Smith discussed how CAP will impact on your farm business, using case study examples.
The Walter Lilly case - some harsh lessons learnt - construction update semin...Blake Morgan
Richard Wade from Blake Morgan talked about The Walter Lilly case and the lessons learnt at Blake Morgan and Rund's Construction update seminar on 5 November 2014 in Southampton.
The demise of the Code for Sustainable Homes - construction update seminar - ...Blake Morgan
The document discusses changes to sustainability standards for new homes in the UK. The Code for Sustainable Homes will be abolished and replaced by new optional requirements in areas like water, access, security and space that can be applied through the planning process. Minimum energy efficiency standards will continue to tighten and aim to reach zero carbon by 2016, though some exemptions may apply. A new voluntary sustainability standard is also being developed to replace the Code.
More Related Content
Similar to Blake Lapthorn Rural Professionals breakfast - Oxford - 13 February 2013
Bournemouth - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This document provides a directors' update for Bournemouth Essential covering the 6-month period of November 2019. It discusses navigating turbulent times amid political and economic uncertainty. The document announces new appointments to the firm and provides an agenda for an upcoming seminar covering various financial and tax topics, including property tax matters, financial reporting, VAT updates, and risks to businesses. It aims to help clients make sense of the current chaotic environment.
Energy policy and governance - principles, Rakesh Kacker, Director India Habi...ESD UNU-IAS
This lecture is part of the 2016 ProSPER.Net Young Researchers’ School on sustainable energy for transforming lives: availability, accessibility, affordability
Guidance on the Streamlined Energy and Carbon ReportingEMEX
Streamlined Energy and Carbon Reporting (SECR), the proposed carbon reporting scheme is set to replace the Carbon Reduction Commitment (CRC), and its anticipated start date of April 2019 is approaching.
This session offers guidance on how organisations can prepare, what will be the qualifying criteria and how the new reporting framework will benefit the companies.
Even though the ink is hardly dry on the 2013 CAP reform, thoughts are turning already to the prospects for the next reform. In this presentation I discuss the likely economic context for agriculture in the coming years and some of the main issues - direct payments, market crises and risk management, greening, soil health and climate policy - likely to be on the agenda for the next CAP reform. However, those seeking reform will have to address a widespread sense of 'reform fatigue'.
Presented by Jonathan Gheyssens, UNEP, Luxembourg 29th November 2019
https://events.globallandscapesforum.org/agenda/luxembourg-2019/day-1-2/interactive-session-8/
The document summarizes the European Commission's proposals for the Common Agricultural Policy (CAP) from 2014 to 2020. Key points include:
- The CAP budget will remain roughly flat in nominal terms but decline in real terms. Funding will be redistributed between Pillars 1 and 2.
- Pillar 1 covers direct payments to farmers. The Commission proposes changes to eligibility criteria and introduces new schemes like greening requirements, payments for young farmers and in less favored areas.
- Pillar 2 covers rural development. It will have less rigid funding categories and increase the minimum spent on environmental objectives.
- Cross compliance rules on statutory management requirements and good agricultural practices will continue to apply across both pillars.
This document summarizes alternatives to traditional power purchase agreements (PPAs) for renewable energy projects. It discusses merchant operations which involve selling electricity at spot market prices, but notes this is risky without hedging contracts. It then focuses on the Australian Capital Territory government's plan to source 90% of its electricity from renewables by 2020. This includes past reverse auctions that awarded solar projects feed-in tariffs. An upcoming auction in August 2014 will provide 200MW of wind projects with 20-year feed-in tariffs. The document analyzes factors like the auction criteria and risks of investing in the ACT plan. It concludes the ACT plan is a good example of developing large-scale renewables at a competitive price but challenges
The document summarizes the agenda and presentations for the ADBA Spring Members Meeting held on 18 April 2018 at Bird & Bird LLP in London. Key topics included:
1. Welcome and introductions from Charlotte Morton of ADBA and Levent Gürdenli of Bird & Bird LLP.
2. An overview of Bird & Bird LLP as an international law firm and their energy and utilities practice.
3. A presentation on the political context for anaerobic digestion in the UK, including the potential impacts of Brexit, public finances, climate change targets, and opportunities for the industry.
4. An update on the Non-Domestic Renewable Heat Incentive and
Towards cleaner energy - a collaborative world effortsSampe Purba
This document discusses Indonesia's commitment to transitioning to cleaner energy sources. It outlines Indonesia's large potential for renewable energy like solar, wind, hydro, and geothermal, but notes that currently only a small percentage of 2.5% of this potential is being utilized. The document emphasizes that the transition must be collaborative and consider each country's circumstances, and that developed countries who polluted more have more responsibility to reduce emissions. It concludes that the transition principles of no one being left behind and mutual benefit between countries are important to guide the process.
RAP EU emergency measures assessment -final.pptxBramClaeys3
Regulatory Assistance Project (RAP) provides an assessment of various emergency policy measures to address the energy crisis in Europe. They find that demand reduction efforts and targeted financial support are most effective. Price signals are still needed to avoid rationing. Wholesale interventions like gas price caps face challenges in ensuring cost savings are passed to consumers without increasing demand and risk of blackouts. Group gas purchases and infra-marginal rent capture may offer opportunities if implemented properly.
Succession Planning Presentation Wr And Bljendacott
The document discusses succession planning for farming businesses. It outlines some common barriers to passing the farm business to the next generation like children not wanting it or tax issues. It then provides tips for introducing children into the business gradually through employment or partnership. The document also discusses options for retaining ownership of land like family business tenancies and limited companies. It covers inheritance tax considerations and asset protection planning.
Janet Dwyer's presentation to the Land Economy Department at the University of Cambridge, discussing the implications for the agriculture sector since #Brexit.
two suggestions on the aspect of food (chain) policy for a workshop organised by DG Agri May 2017 in Brussels. Intended to be a bit provocative to stimulate discussion
Exeter - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Taunton - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
The presentation given by Simon Dixon Smith of Land Partners at the CLA's CAP Update event held on Tuesday 3 December 2013 at The Bell Hotel, Stilton, near Peterborough.
Mr Dixon Smith discussed how CAP will impact on your farm business, using case study examples.
Similar to Blake Lapthorn Rural Professionals breakfast - Oxford - 13 February 2013 (20)
The Walter Lilly case - some harsh lessons learnt - construction update semin...Blake Morgan
Richard Wade from Blake Morgan talked about The Walter Lilly case and the lessons learnt at Blake Morgan and Rund's Construction update seminar on 5 November 2014 in Southampton.
The demise of the Code for Sustainable Homes - construction update seminar - ...Blake Morgan
The document discusses changes to sustainability standards for new homes in the UK. The Code for Sustainable Homes will be abolished and replaced by new optional requirements in areas like water, access, security and space that can be applied through the planning process. Minimum energy efficiency standards will continue to tighten and aim to reach zero carbon by 2016, though some exemptions may apply. A new voluntary sustainability standard is also being developed to replace the Code.
Blake Lapthorn's London Pensions conference 19 March 2014Blake Morgan
On Wednesday 19 March 2014, Blake Lapthorn's Pensions team hosted its London Pensions conference - 'The State of Pensions'. The team were joined by Ed Tomlinson of SEI and Kevin Wesbroom of Aon Hewitt. Speakers brought delegates up to date with recent and future developments and demonstrated ways in which some of the current and future challenges can be met.
Blake Lapthorn's In-House Lawyer and Decision Makers' forum - 'Health & Safet...Blake Morgan
On Tuesday 25 February 2014, Blake Lapthorn's commercial litigation team hosted an In-House Lawyer and Decision Maker's forum in Southampton. Our speakers, John Mitchell and Nicola Hutchins, discussed the changing landscape of Health & Safety law.
Blake Lapthorn's green breakfast with the Environment BankBlake Morgan
On Wednesday 4 December, Blake Lapthorn's climate change team hosted a green brekfast ith Dr. Tom Tew, Chief Executive of the Environment Bank. Tom talked about the role of bio-diversity off setting.
Blake Lapthorn green breakfast with BRE globalBlake Morgan
On Tuesday 3 December, Blake Lapthorn's climate change team hosted a green breakfast seminar. Guest speaker Chris Cousins of BRE Global, talked about sustainable building for a Green future.
Blake Lapthorn green breakfast with Dr. Barbara Hammond of the Osney Lock Hyd...Blake Morgan
On Wednesday 20 November 2013, Blake Lapthorn's climate change team hosted a green breakfast seminar. Guest Speaker Dr. Barbara Hammond, talked about the high profile and long awaited, first community owned micro hydro scheme on the upper Thames.
Blake Lapthorn green breakfast with The Green Blue - 19 November 2013Blake Morgan
On Wednesday 19 November 2013, Blake Lapthorn's Climate Change team hosted a green breakfast seminar titled 'Influencing change in the UK leisure marine sector', with guest speakers Jane Swan and Dan Reading of The Green Blue.
Blake Lapthorn's green breakfast with guest speaker Keeran Jugdoyal, Faithful...Blake Morgan
On Wednesday 13 November 2013, Blake Lapthorn's climate change team hosted a green breakfast seminar. Guest speaker Keeran Jugdoyal, Mechanical Engineering Manager at Faithful+Gould, talked about the lessons his company has learnt about the end use of sustainable buildings.
Blake Lapthorn green breakfast with URS GlobalBlake Morgan
This document outlines the key concepts and process for establishing payments for ecosystem services (PES) schemes. It defines ecosystem services and PES, and describes the five main steps to set up a PES scheme: 1) identify the ecosystem service and buyers/sellers, 2) establish scheme principles, 3) negotiate and implement agreements, 4) monitor implementation, and 5) consider opportunities for multiple benefits. Examples of existing PES schemes are provided, such as those in Costa Rica, Mexico, and the UK, covering services like water quality, habitat protection, and carbon sequestration.
Blake Lapthorn green breakfast with Seacourt Printing Ltd - 16 October 2013Blake Morgan
On Wednesday 16 October 2013, Blake Lapthorn's Climate Change team hosted a green breakfast seminar. Guest speaker Gareth Dinnage, Managing Director of Seacourt Printing, talked about his companies move from being a standard 'dirty' printer to the first closed loop, Zero Waste, printing company in the world.
Blake Lapthorn green breakfast with Rapanui - 18 September 2013Blake Morgan
On wednesday 18 September 2013 Blake Lapthorn's Climate Change team hosted a green breakfast seminar titled Eco-fashion for the green consumer, with guest speaker Mart Drake-Knight of Rapanui.
Blake Lapthorn's In-House Lawyer and Decision Makers' forumBlake Morgan
Blake Lapthorn's Litigation Dispute Resolution and Employment teams joined up to present a forum on social media and confidentiality on 17 September 2013, at Blake Lapthorn's Oxford office.
Blake Lapthorn Academies conference, Southampton - 18 June 2013Blake Morgan
Blake Lapthorn's Education team hosted a summer conference for Academy schools and those looking to convert to academy status. The conference provided guidance and advice with the guest speaker being Zenna Atkins, former head of Ofsted.
Blake Lapthorn green breakfast with Mike Putnam, Skanska UK - 8 May 2013Blake Morgan
On Wednesday 8 May 2013 Blake Lapthorn's Climate Change team hosted a green breakfast seminar. Guest speaker Mike Putnam, President and CEO of Skanska UK, talked about his companies 'Journey to Deep Green'.
2. "If People have full stomachs they can have the
luxury of multiple problems –
if you are hungry you only have one problem"
Nick Tapp
3. Committed to reduce form filling/bureaucracy
Food self sufficiency
CAP reform – there is a role to play for public money to
compensate farmers for environmental benefits
Bovine TB is the most pressing health problem
I am determined that disease in trees and plants received the
same attention as disease in animals
Owen Paterson, Oxford Farming Conference 2013
4. Outlook
Poor crop establishment
Rising food prices
Increasing concern about disease control
CAP reform uncertainty
Land supply shortage
Rent review uncertainty
Other related rural sectors under pressure eg:
Shooting (game bird cost, PAYE for beaters)
Equestrian – increased feed cost
5. CAP reform:
Current system ends on 31 December 2013
Golden ticket or simple carry forward?
Irish presidency of the European Union until end of June
2013
Multi-annual Financial Framework
Reforms will not be ready to apply until January 2015
Will need to be transitional arrangements for 2014
Pragmatism to prevail?
6. Current
Ash dieback (chalara fraxinea) preventative measures
remain in force
New Environmental Stewardship handbooks for any scheme
commencing on or after 1 January 2013
Revised nitrate vulnerable zone maps come into force on 1
January 2013
£15 million Rural Community Renewable Energy Fund to
launch by March 2013
House of Lords vote on abolition of Agricultural Wages
Board (February/March 2013)
7. Cattle and Dairy
Regulation 261/2012 – Producer Organisations (POs) in the dairy
sector
DEFRA Consultation closed on 21 January 2013
What legal structures will POs adopt?
Minimum of 10 members or 6 million litres of raw milk delivered
annually?
Pilot badger culls in West Somerset and West Gloucestershire
postponed to Summer 2013
Hampshire and Oxfordshire from 1 January 2013 amongst counties
placed on annual TB testing
January – October 2012 - 31,146 cattle slaughtered - bovine TB risen
by 12% in last year (Farmers Weekly 25 January 2013)
Schmallenberg virus
8. Agricultural rights of way
Giles v Tarry [2012] EWCA Civ 837
(1) Mohit Dutta (2) Amanda Queiroz v Thomas Hayes [2012]
EWHC 1727 (ch)
9. Agricultural tenancy issues
Morrison-Low v The Executors of Patterson [2012] CSIH 10
Environmental Stewardship Handbooks 2013/Case B Schedule
3 Agricultural Holdings Act 1986
The Agricultural Holdings (Units of Production) (England) Order
2012
Spencer and another v Secretary of State for Defence [2012]
EWCA Civ 1368
10. Planning
1. Removing Ag Tie Restrictions
Rasbridge, Re Cefn Betingau Farm, Sept 2012
Restriction in planning agreement
Wales
Appn to Lands Chamber (LPA 1925 s84)
Ag tie related to only part of the land for sale
Highlights:
– Onerous nature
– Rigorous need for market testing
– Onus of proof rests on the applicant
11. 1. Removing Ag Tie Restrictions
General rule:
– Market testing is the indicator of need
– Marketed at lower value for a period time
– No offers indicate no need
Little guidance on market testing
– Welsh Practice Guidance…
– Reasonable period = at least 12 mths
– Advertised to relevant potential tenants/buyers
– Price/rent reflects the ag tie (70-75% OMV)
12. 1. Removing Ag Tie Restrictions
What had been done?
– Marketed Jul 2008 to Sept 2009
– Price reduced initially 28% and by the end 39%
– Price estimate based on agent’s 40yrs experience
– Price based on 9 comparable properties from agent’s
database
– Advertised in local press 13 times
– Advertised on websites (agents, Rightmove etc)
Decision
– Application to discharge dismissed
– Market testing not sufficiently rigorous to establish lack of
demand
13. 1. Removing Ag Tie Restrictions
What were the problems and what was required?
– Of the nine comparable properties only one was subject
to an ag tie
– No detailed objective analysis of the comparable
properties, only basic info given
– Analysis of an experienced valuer inevitably needed and
weight should be given to that expertise
– Failure to keep proper records of interest shown (oral,
emails or www)
– Property should also have been marketed with extra land
not subject to ag tie
– Failure to offer property for rent
14. 1. Removing Ag Tie Restrictions
What were the problems and what was required? (cont)
– No advertisements in specialist farming press
– No explicit adjustments made in price to reflect general
market movement which should have been distinguished
from the ag tie discount element
– An ag tie restriction over part was in practice a restriction
over the whole
Lessons equally applicable to ag ties on planning consents
and in England
16. CGT and Entrepreneurs’ Relief
Disposal of whole or part of business
Contrast disposal of asset of business
Russell v HMRC [2012]
– Only business was land (21h farmed; 6h sold for
development)
– No post-sale change in continuing business
– Fall in profits after sale insufficient
– But what could Mr Russell have done?
Upturn in property market will raise development opportunities
and ER availability more often
17. Inheritance Tax
Business Property Relief
N V Pawson v HMRC [2012]
– Upper Tax Tribunal has denied BPR on single Furnished
Holiday Letting
– Must be run with view to profit
– Degree of involvement in management
– Extent of services to holiday makers
18. Income Tax - relief
G Pratt & Sons v HMRC
– Farm drive re-surfacing – income or capital expense?
– It was a repair to existing drive, not renewal
19. Income Tax - Farm profit averaging claims
Donaghy v HMRC [2012]
– Can’t average a profit against a loss
– Loss must be treated as nil profit
– Mr Donaghy’s accountant claimed Human Rights Act 1998
applied: averaging doesn’t solve profit/loss volatility!
20. Income Tax – anti-avoidance
S10 Finance Act 2012/s127B Income Tax Act 2007
– Individual or partnership
– Makes loss in property business
– That business has a relevant agricultural connection
– No property loss relief against general income for agricultural
expenses arising in connection with “relevant tax avoidance
arrangements”
21. VAT and Self Storage
More self storage reflects diversification
Exemption ended 1 October 2012
Now standard-rated
Need to identify inputs and apply VAT properly
22. General Anti-Abuse Rule
HMRC and “abusive tax avoidance schemes”
Main purpose is obtaining tax advantage ie anything more than
incidental
Draft Finance Bill 2013
Chance to comment ended 6 February 2013
Double reasonableness test
Too little guidance about impact on the “grey” cases
Will affect Inheritance Tax despite warnings
23. Annual Residential Property Tax
Finance Bill 2013 contains draft rules
Annual charge – starts w.e.f 6 April 2013
High-value UK residential properties ie £2m+ @ 1 April 2012
Owned by certain Non-Natural Persons
ARPT arises if a company or partnership (or collective
investment scheme) meets the “ownership condition” in relation
to a “single-dwelling interest”
Problems may arise for partnerships with a corporate member
£15,000 charge for a relevant £2m-£5m interest
Relief for farmhouses – check criteria
Lots of details to check; more draft legislation published 31
January incl extensions to CGT
24. Disgruntled beneficiaries
Loose talk costs farms - proprietory estoppel
Suggitt v Suggitt [2012]
– Spendthrift son
– Assurance, reliance and detriment
– Vital to review clients’ wills (and other documents)