Desperately seeking BUSINESS ASSET TAPER RELIEF

[simpsonite]

Hi All,

Farming partnership ceased in 1989.
Part of the farming land was sold at that time. The remaining parcel of land (3 acres) was sold 19 years later in 07/08. Clients have been holding out for planning permission which was eventually granted 20/03/08!

After the farm ceased in 1989 this remaining land was not farmed.
Is there any way it could be argued that this land still constitutes business property for taper relief purposes because it was originally land on a working farm?

Thoughts much appreciated!

Simpsonite

[Ian Wright]

Unless the land was used for some business purpose since 1989 then there is little hope for any BATR. When I say some business purpose I mean by anyone and not just the landowner. What was the land used for? Did another farmer graze it?

In this scenario
1998 - the relief is pretty much limited to those farming in hand
2000 - you should get relief if is used in business by any body corporate
2004 - if anyone uses it for business it should get relief

All time periods are to be apportioned.

I have argued in cases where land has become storage area or even a place to turn vehicles around, what you are looking ofr is any business use of any type between 1998 and 2008.

Last hope is if the sale was in any way conditional which could push the tax date past the sale date into 18% tax in 2008. I would have thought that planning permission was the key so this may not help!

Ian