Farmers, and Islamic Finance

Nov 26, 2018

In the past week, Revenue updated its Tax and Duty Manuals.

  • Taxation of Farmers –Basic Payment Scheme manual has been updated to reflect recent stamp duty changes. The age limitation for consanguinity relief was removed in Finance Bill 2017 and the guide also sets out that relief from stamp duty will be given for certain leases of farmland from 1 July 2018 where certain conditions are met.
  • A new tax and duty manual providing guidance on Islamic financing has been created.