April 2013

If the cap fits? – further restrictions to loss reliefs

As analysed in previous articles, a limit will apply to restrict the Income Tax relief available to individuals from 6 April 2013 to the greater of £50,000 or 25% of total income.  This legislation will affect some farmers and landowners, especially with the fluctuations in farming results expected in the 2012 and 2013 harvests.