Diversification – the tax opportunities and pitfalls
About Peter Harker
Peter is a Director in the Private Wealth and Estates Group in the London office of Saffery Champness. He is a specialist in Landed Estates is one of the firm’s lead experts on Renewable Energy projects. Peter currently manages a mixed portfolio of clients which includes acting for large landed estates, high net worth individuals and large property owning businesses.
His dual accountancy and tax chartered qualifications mean that he is able to provide clients with a holistic service, provides clients with insightful technical support that draws together both financial reporting requirements as well as tax considerations.
Peter joined Saffery Champness in 2004 after graduating from Durham University with a BSc in Geology followed by an MSc in Engineering Geology from the University of Newcastle. He qualified as a Chartered Accountant in 2007 and as a Chartered Tax Advisor in 2012.
This seminar will explore some of the opportunities and pitfalls in terms of tax planning that arise from farm/estate diversification projects. There are important factors, both in terms of lifetime taxes and IHT planning, that should be considered when planning any such project. It is always important to understand the issues properly before commencing the activity as the way it is structured in the first place can dramatically affect the financial return.
Areas of focus will include:
- Renewable projects
- Holiday accommodation
- Rental property
- House openings
The session will look at the latest tax changes and cases that impact on these activities and will cover some of the key tax reliefs available.