Commentary

C2.1105 Grants for giving up agricultural land

Capital gains tax
Capital gains tax | Commentary

C2.1105 Grants for giving up agricultural land

Capital gains tax | Commentary

C2.1105 Grants for giving up agricultural land

For the purposes of computing chargeable gains, a grant payable under the Agriculture Act 1967 s 27 to an individual for relinquishing occupation of uncommercial agricultural units is not treated as part of the consideration obtained by him for, or otherwise as accruing to him on, the disposal of any asset before 6 April 20131. Payments received by smallholders under the Agricultural Act 1970 also fall within the Agricultural Act 1967 s 27 and were therefore similarly exempt from capital gains tax2.

It has been stated that payments under the Agriculture (Miscellaneous Provisions) Act

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