IHT and ELMS – HMG’s response

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Amongst the Budget announcements today was the government's response to last year's consultation on the tax treatment of land used for ELMS and other ecosystem services as well as the taxation of receipts. In brief:
So as yet no clues on whether receipts will fall to capital gains tax or income tax.
If you or your client would like further guidance on these changes then please contact Tom Hewitt or your usual contact at Burges Salmon.
extend the existing scope of agricultural property relief from 6 April 2025 to land managed under an environmental agreement