milk parlour
Many milk producers have the chance to use the loss in value of milk quota to reduce their capital gains tax (CGT) bill from the sale or gifts of other assets. However this needs to be planned for, says Dan Knight of accountant Old Mill. When milk quota ceases to exist on 31 March 2015, its owners will effectively make a capital disposal for tax purposes. Because in many cases the quota was bought in at much higher prices than […]