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Revenue implications assessed for landowner tax planning purposes on Scottish Estate

Project summary

  • A new wind farm development to comprise of 15-20 turbines on a Scottish Estate.
  • The scheme could generate power for over 77,000 homes per year.
  • Fisher German tendered the site and agreed Heads of Terms for an option to lease land to a European wind farm developer. Our client and their accountants required an assessment of wind farm rental income and anticipated forestry losses for tax planning purposes
  • Fisher German's advisory services were used to ensure steps could be taken to mitigate tax liabilities as a result of a wind farm being developed.

Solution

  • We engaged with the client's accountants to understand their needs to deliver requirements of the mutual client.
  • We consulted with the developer to gauge expectations over how the scale and layout of the wind farm could change through design, survey and planning.
  • We prepared detailed financial projections for the wind farm and Estate income analyses.
  • Utilising information from the developer we estimated future forestry losses likely as a result of the wind farm development.
  • The exercise is to be periodically reviewed in conjunction with the accountants to ensure our client’s tax position is appropriately managed and mitigated.

Benefits

  • Proactive and prudent tax planning.
  • A better understanding of the wind farm development process and medium to long term financial implications for our client.
  • Quantification of expected losses from current forestry operations on the Estate.
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