Farmers could face steep hikes in Inheritance Tax if new HMRC proposals come into force, warns rural accountant Old Mill. Currently, landowners can put properties into trusts in order to hand them over to the next generation; often saving Capital Gains Tax and Inheritance Tax in the process, says head of rural services Andrew Vickery. But now HMRC is proposing to cap the tax-free value of trusts at £325,000, meaning any properties worth more than that may incur IHT charges. Full story: Read more
Fantastic Funding to Transform Taunton Rail Station following successful Secretary of State for Transport visit
News that £4.6 million has been secured for a major transformation of Taunton Rail station through the Government’s Local Growth Fund has been welcomed by Prospective Conservative MP for Taunton Deane, Rebecca Pow: ‘I have been championing this cause and was delighted that the Secretary of State for Transport, Patrick McLoughlin accepted my recent invitation to come to Taunton to see the potential benefits of this project for himself. Full story: Read more
New fitness trail at Birchfield Park
The South Somerset District Council (SSDC) and Somerset County Council funded ‘trim trail’ is up and running at Birchfield Park in Yeovil. Trim trails are a great way to liven up your outdoor training and keep fit. The Birchfield Park trim trail works on the principle of using body weight to get yourself over, under and through a series of static obstacles. Rather than picking up a weight in a mainstream gym, your bodyweight supplies the resistance that will tone and strengthen your entire body. Full story: Read more