Wholly and exclusively question re land.
I asked my client if the land utilised by his business was used W & E for his business.
His reply was that on quite a large portion of the land he allows farmers to graze their sheep free of charge. He also added that this was necessary otherwise the land would become unusable for his business purposes and that this was a very cost effective solution (being free).
Can my client still claim that the land being grazed is used W & E for his business?
It seems unfair to me for it not to be the case as he would loose the chance to reclaim mortgage interest on that portion of land and also suffer when he eventually sells it in the distant future
Comments gratefully received.
- Will simplified micro entities accounts result in loss of business ? 1,650 21
- Anybody still doing returns? 67 4
- Capital Gains PPR and allocation of costs 300 13
- Clothing 394 8
- File Abbreviated LLP accounts online? 85 6
- Why do I do this every year 538 13
- HMRC filing meltdown? 699 24
- Interest on pre-letting? 46 3
- client can't/won't pay 2,012 45
- 'My colleague fills in his own Self Assessment" and he/she claims,x,y and z" 281 5
- Pounds Shillings and Pence 1,650 43
- Self assesment online 1,064 13
- Xero sales report by customer - how? 117 1
- Anybody Use Brightpay 744 20
- US/UK Dual Citizenship 255 11
- Tax Credit Office opening hours 146 1
- Selling Capital Allowences from Self Employed to Ltd Buisness 150 4
- Payment of tax due on 2014/15 Self Assessment tax return 166 2
- Non resident income. 486 21
- UKBA financial requirements for spouse visa 302 22
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 939
- Underpaid VAT assessment and relation to SATR 656
- Did you realise Google will not patch android exploit ... 606
- Latest phishing scam 585
- Cashback for opening business bank acct = trading income? 422
- Auto Enrolment Questions Answered 317
- Scratch Head 249
- Loan benefit after person ceases as director/employee 243
- Sabbatical payments 207
- Negligible Value Claim 182