[Diggers350] 'Agricultural' tax scam
ilyan.thomas at virgin.net
Sat Nov 20 13:02:04 GMT 2010
and google further
On 20/11/2010 09:55, james armstrong wrote:
> If you want to avoid capital gains tax, be a farmer.
> But if your not a multi millionaire, just buy a pony paddock.
> There are an estimated 900,000 horses in UK. (They don't pull ploughs exept at the annual Dorset Fair)
> At the ratio of one acre to one pony that works out at 900,000 acres of 'pony paddocks'in UK. Pasture (and farmland and land set aside from farming for wildlife) is exempt from capital gains tax.
> In life,landownership qualifies you to pocket CAP benefits- the more land the bigger the benefit. In death the same land qualifies you for exemption from Capital Gains Tax.
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