Displaying 1-10 of 108 results
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Succession: preparing for the 6 Ds
- Article
- 25 Jul 2024
Heather Wildman, from Saviour Associates in Scotland, is a specialist in family succession and lives in Scotland. Preparing for the 6 Ds in life.
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VAT on farm food: navigating the zero rate
- Article
- 24 Jul 2024
Farmers diversifying into processed foods face complex VAT rules. Julie Butler FCA explains how perception can impact tax rates.
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The need to agree the farm executors charge fees from the start
- Article
- 22 Jul 2024
Read to avoid considerable pain in the future.
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Total Income From Farming 2023 (TIFF) – what does it tell us?
- Article
- 22 Jul 2024
DEFRA’s annual report on farm incomes for harvest 2023 was published on 11 July. It presents a fairly depressing picture. The figures, covering England only, are produced on a model that takes account of depreciation but excludes proprietors labour and notional rent on owner occupied land, so, although the terminology is slightly different, the result is not dissimilar to a typical set of farm accounts.
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Butler & Others v HMRC [2023]
- Article
- 17 Jul 2024
The result of a recent First Tier Tribunal case on a failed claim for 100% Business Property Relief (BPR) on an interest in a Limited Liability Partnership (LLP) which ran a wedding business will be of interest to members and rural businesses alike.
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Proprietary estoppel – more cases come to court
- Article
- 16 Jul 2024
The concept of proprietary estoppel has developed considerably in recent years, and many of the relevant cases are drawn from the farming industry – perhaps unsurprisingly given the high capital values involved and the exclusive commitment which participation in a farming business requires.
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Snippets
- Article
- 16 Jul 2024
One of the advantages of a committee composed almost entirely of practicing rural accountants is that sometimes trends can be identified, particularly regarding approaches from HMRC.
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When is agricultural land not agricultural land?
- Article
- 16 Jul 2024
Readers will be aware that for some time HMRC have been looking at claims for the lower level of SDLT on mixed transactions.
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Making sense of the RPA money
- Article
- 16 Jul 2024
Understanding DEFRA payments has always been challenging and the introduction of numerous new schemes has only added to the confusion. Initially, the main DEFRA payments came from the Basic Payment Scheme (BPS). Despite some delays in the early years, these payments were typically disbursed in early December of the claim year. Stewardship payments usually followed a few months later, typically in March or April after the scheme year, requiring careful consideration for those with fiscal year-ends.
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Mind the gap
- Article
- 15 Jul 2024
The 'tax gap' gained significant attention during the General Election, with both major parties promising to reduce it to enhance state finances. However, reducing the tax gap is a complex issue due to several factors.
Displaying 1-10 of 108 results