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A trade will be non-qualifying if the company carries on any excluded activities, and they comprise more than 20% of the trade. These include: - dealing in goods other than as part of a wholesale...
The profits of farmers (and market gardeners) are calculated under the normal trading rules, with additional refinement due to the unique nature of the trade. The rules are designed to take account of...
Property receipts are outside the scope of property business income if they are: - exempt from tax (income from the occupation of commercially managed woodlands); or - taxed as trading income:...
A qualifying trade means a trade carried out on a commercial basis with a view to making a profit. A company is the parent company of a trading group when it has only qualifying subsidiaries....
A qualifying trade exists if it: - is carried on through a permanent establishment in the UK; - is conducted on a commercial basis and with a view to the realisation of profits; and - does not consist...
Contributions are generally based on taxable trading profits applying to the particular accounting period (¶21000+). However, the following items represent adjustments which may need to be made...
The following assets qualify for relief if they are gifted to a UK resident person: Asset ¶¶ Exclusions Business assets¶51585 Gifts falling into these categories will not qualify for gift...
The grant of a tenancy of agricultural property in the UK, the Channel Islands, or the Isle of Man is not a transfer of value, provided that the property is used for agricultural purposes, and...
Agricultural property relief (APR) reduces the value of a transfer for IHT purposes on both lifetime and death transfers. In order to qualify for relief, the property must fall within the definition of...
Where the value of the original transfer is reduced by business or agricultural property relief, the market value at the lower value date is reduced by the same percentage before it is deducted...