Decide transfer of assets

THIS article is the second in a short series looking at the question of operating a farming business through a company.

Last week I looked at how capital gains tax applies when a business is transferred to a company where only some business assets are transferred whereas capital gains tax can be completely avoided if all business assets are transferred to the company.

It is therefore necessary at the outset, when setting up a company, to decide which assets are to transfer to the company and which are to retain in your personal ownership.