Case study Flashcards
What is a farm partnership agreement
It is a agreement which governs and regulates how the partnership operates , voting, contributions, withdraws, succession and votes - the partnership act 1890
The Terms of Business
General terms of business sets out the terms and conditions of any work D&R undertakes
what are terms of engagement
Are a written record of the agreement between the client and the firm.
What are the clients partnership succession plans
The clients partnership agreement ensures that it wont dissolve due to unexpected death and it is expected that the next generation will take over in due course
why did the client choose not to pursue environmental grants and diversification
My client had a personnel aversion to this type of diversification. In combination this is not an area i am familiar with and would not be able to competently give advice. If this was something he would be interested in pursuing we would have advised him of surveyors who may be able to help
What are delinked payments
delinked payments are not linked to a piece of land, a landowner is eligible if they claimed and were eligible in 2023. The figure is based on the reference amount of the average last 3 years before
what is a development claw back
This clawback occurs when a assets value increases from the initial sale due to further value being archived through development
What is a local plan
A document that highlights a vision for future development in a area including housing employment shops and areas where development should be restricted.
How does a site get allocated
It gets promoted through a call for sites exercise then if the council approves of its merits it gets allocated in the local development plan
Benefits of a grazing license
No security of tenure
Tax advantages
More flexible
What is Brittan energy coast
It is a area where the local council and national government agree on the potential of the area to meet energy demands
IHT tax rates
Tax free threshold £325,000
Charged at 40% above threshold
IHT - APR
In certain cases Assets that are classed as having been used for agricultural purposes can received Inheritance relief due of up to 100%
what is a aonb
A area of outstanding natural beauty land under this designation is to be conserved and its natural beauty enhanced - formed by the CROW act 2000
What is a DNO
A distributions network operator that own and operate electricity infrastructure in the region.
