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Farming & Rural Business Community tax articles

The latest articles related to tax in the farming and rural industries.

Most articles are only available to Farming & Rural Business Community members. Log in or find out how to join the Community.

Displaying 1-30 of 51 results
Exclusive Budget 2025 – what does it mean down on the farm?
  • Article
  • 27 Nov 2025
  • David Missen
As Rachel Reeves' second Budget starts to sink in, it is clear that, once again, there is relatively little in it to cheer the rural economy.
Exclusive VAT status of poppadoms and impact on a farm shop
  • Article
  • 26 Nov 2025
  • Julie Butler
As shown by the ‘Jaffa Cake’ and ‘marshmallow’ VAT status sagas, the charging of VAT on ‘marginal’ food supplies can cause ramifications in the confectionary industry with implications for farming. In Walkers Snack Food Ltd v CRC in the Upper Tribunal, the ‘Sensations Poppadom’ came under question as to whether it was zero or standard-rated. Some might argue that the name ‘Walkers Snack Food’ does not promote zero-rated food. And who doesn’t love all those products. For the farm shop that acts as village shop and supplier of ‘goodies’ for all the farm diversified activities of campsites, farm ...
Exclusive GROBs – not always a bad thing
  • Article
  • 13 Nov 2025
  • David Missen
As we will all be aware, the concept of the gift with retention of benefit, or GROB, was introduced in 1986 to avoid individuals making gifts with strings attached. The legislation was designed to combat instances of donors seeking to transfer property outside of their estate, whilst continuing to derive benefit. As a result, most estate planning starts with a consideration of the GROB aspects and endeavours to construct a plan which avoids any situation where a GROB might occur. This has become particularly relevant in an agricultural context recently where partnership reorganisations tied to...
Farming & Rural Business Conference highlights
  • Article
  • 11 Nov 2025
  • David Missen
Subject Matter Expert for the Farming & Rural Business Community, David Missen, guides us through some of the important points made in the recent Farming & Rural Business Conference.
Exclusive Biodiversity Net Gain – where are we?
  • Article
  • 21 Aug 2025
  • David Missen
As mainstream agricultural profitability falls and the Budget for on-farm environmental schemes is under pressure and uncertain, many businesses are starting to consider other possibilities for diversification, including the longer-term environmental opportunities presented by Biodiversity Net Gain (BNG) and Nutrient Neutrality (NN).
Exclusive IHT reforms – details announced
  • Article
  • 19 Aug 2025
  • David Missen
Following the Autumn Budget and the consultation on trusts which took place in the Spring, HMRC released a series of papers on 22 July summarising the points raised in the consultation and outlining the draft legislative changes.
Exclusive SDLT and farming
  • Article
  • 06 Aug 2025
  • Jack Deal & Sam Stent
Farmers up and down the country are reviewing the ownership of their land and properties in an attempt to mitigate the effects of the changes to Agricultural Property Relief and Business Property Relief that were announced in the Autumn 2024 Budget and which are now enshrined in draft legislation. An often overlooked tax that needs to be considered when transferring land and property is SDLT.
Exclusive What the IHT changes mean for farmers
  • Article
  • 21 May 2025
  • Harriet Sergeant
As has been well documented in the national press, significant changes were made to inheritance tax reliefs (“IHT”) as part of Rachel Reeves' Autumn budget. These changes could force individuals to sell off farms that have been in the family for generations, due to the “dry tax charge” that will potentially arise on death. Essentially, a dry tax charge is a tax liability that crystallises without an individual receiving any funds to discharge the liability.
Exclusive Why “selling the farm to the family for a pound” generally doesn’t work
  • Article
  • 11 Apr 2025
  • David Missen
As the impact of the Budget 2024 changes sinks in, it is clear that asset transfers will feature heavily in the range of responses suggested to (or by) clients. Certainly, this is the case in some of the more imaginative proposals which have been suggested in social media! However, these “cunning plans” tend to ignore the impact of the various related party rules, which are intended to ensure that everyone is related to almost everyone to whom they might like to pass assets and hence market value is used instead of stated transaction value. It may therefore be useful to draw together the main ...
Exclusive Cash basis – a practical example
  • Article
  • 10 Apr 2025
  • David Missen
As the first sets of accounts for the 2024/5 financial year start crossing desks, it may be worth reconsidering the use of the cash basis, which is, of course, the new default position for unincorporated accounts. The switch was announced in 2023 and will apply from 2024/5. Those wishing to continue on an accruals basis will now need to opt out on the Self Assessment return.
Exclusive Life insurance
  • Article
  • 10 Apr 2025
  • Jack Deal
The changes to Agricultural Property Relief and Business Property Relief, announced in the Budget on 30 October 2024, bring life insurance back into sharp focus.
Exclusive Post budget planning – an old friend returns
  • Article
  • 10 Apr 2025
  • David Missen
As the furore over the Inheritance Tax changes in the 2024 Budget continues to rage, and practitioners dust off their tax planning archives to find ways to help the next generation, an old and sometimes overlooked tool is coming back to prominence.
Exclusive More Budget news
  • Article
  • 08 Nov 2024
  • Farming & Rural Business Community advisory group
Behind the main Budget announcements, a few other matters of rural interest can be found.
Exclusive Furnished holiday let reform – the last gasp from the March 2024 Budget!
  • Article
  • 07 Nov 2024
  • David Missen
The recently published details of forthcoming reforms to the tax treatment of Furnished Holiday Lettings (FHL) income, which were initially announced in the 2024 Budget but omitted from the Finance Bill, signal significant changes effective from the end of the 2024/5 tax year. These reforms, which were announced on 30 July, were confirmed as part of the 2024 Budget package.
Exclusive Further thoughts on the Halloween Budget
  • Article
  • 06 Nov 2024
  • David Missen
Now that the dust has settled, at least temporarily, on the Autumn Budget, it is worth looking at the implications for those taxpayers who are likely to be affected.
Exclusive Budget 2025 – what’s in it for agriculture?
  • Article
  • 06 Nov 2024
  • David Missen
On the whole, Rachael Reeves first Budget has not been received well by the farming community. The NFU said “APR changes would put family farms at risk”, Victoria Vyvyan, president of the Country Land and Business Association, said the change was “nothing short of a betrayal” and the Guardian summarised that “farmers in England must do more with less”. In contrast, food security Minister Daniel Zeichner said: “our commitment to farmers and the vital role they play to feed our nation remains steadfast."
Exclusive Jeremy's blog 1 November 2024: a Budget for spending not growth
  • Article
  • 01 Nov 2024
  • Jeremy Moody
As the dust settles on yesterday’s Budget, we have much to think about.
Exclusive Butler & Others v HMRC [2023]
  • Article
  • 17 Jul 2024
  • Lucy de Greeff
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.
Exclusive Mind the gap
  • Article
  • 15 Jul 2024
  • David Missen
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.
Exclusive Tax credit changes
  • Article
  • 08 Apr 2024
  • Jon Gifford
After more than 20 years, the system of Working and Child Tax Credits is finally coming to an end, after many delays.
Exclusive Clarity on the tax treatment of land held in environmental schemes
  • Article
  • 05 Apr 2024
  • David Missen
It seems a long time ago that the consultation on the taxation of environmental land management schemes was launched. The consultation period ended in June and, after what must have been considerable contemplation, a response was issued within the appendices to the March 2024 Budget.
Exclusive Autumn Statement 2023 – a seismic opportunity in the small print
  • Article
  • 04 Apr 2024
  • David Missen
The 2023 Autumn Statement is by now receding into memory. One relatively quiet announcement which, to date, has received relatively little attention may have enormous consequences (and opportunities) for large parts of the farming sector.
Exclusive HMRC enquiries
  • Article
  • 31 Oct 2023
  • Keith Phillips
Following a relatively quiet time, our group has seen a marked increase in enquiries from HMRC. Most seem targeted in two areas: property transactions and research and development claims.
Exclusive Development land tax pitfalls – deferred consideration
  • Article
  • 27 Oct 2023
  • Julie Butler
Despite all the news about the housing sector slowing down, the demand for farmland for development has remained strong, with reduced profit margins due to costs. Tax on the sale of land for development can be very complicated. In most cases the gain on the sale of land should be chargeable to capital gains tax (CGT) but in some cases the profit can be charged to income tax and this takes considerable planning in advance.
Exclusive Constant clashing on mixed usage SDLT
  • Article
  • 26 Oct 2023
  • Julie Butler
Stamp Duty Land Tax (SDLT) planning is important when buying a farm or selling part of farms “tax efficiently”. SDLT has been both in the headlines and subject to mailshot by “ambulance chasing” tax advisers looking for SDLT refunds. The case of Henderson Acquisitions Ltd v HMRC [2023] (TC8922) is an example of advisers looking for refunds of SDLT following the Bewley (TC6951) case on what qualifies as a derelict/unsuitable building and therefore be able to claim the non-residential rate of SDLT.
Exclusive Rising interest rates and falling numbers of tax returns don’t always match
  • Article
  • 25 Oct 2023
  • David Missen
The impact of rising interest rates on those with variable rate mortgages has been well publicised. However, not everyone is affected and those on fixed rate mortgages may have seen no difference at all in their monthly mortgage payments, and, for the time being at least, may wonder why there is a problem. For those with money in the bank and, despite the fact that lenders are generally much quicker to raise their mortgage rate than to raise the amount they pay out to their depositors, things have been looking much rosier. Interest receipts are already visibly higher in the 2022/23 tax return ...
Exclusive Applying for extension of Business Asset Rollover Relief reinvestment limits in practice
  • Article
  • 24 Oct 2023
  • Ben Allman
The reinvestment time limits are set out in s152 (3) TCGA 1992, which requires the new asset to be acquired in the period beginning 12 months before and ending 3 years after the disposal of the old assets or such earlier or later time as the Board may by notice allow.
Exclusive The keeping of horses not a trade for EIS relief
  • Article
  • 20 Jul 2023
  • Julie Butler
There have been a number of tribunal cases where appeals have failed as a result of there not being a recognisable trade, e.g. Babylon Farm Ltd v HMRC [2021] UKUT 224 (TCC) regarding the sale of hay for horses.
Exclusive PAYE and NIC – Advisory group members share their experiences
  • Article
  • 19 Jul 2023
  • Tim Evans & Jonathan Gifford
Two members of the Farming & Rural Business Community advisory group give their hints and tips gleaned from working with PAYE and NIC.
Exclusive Changes to business rating – a new minefield
  • Article
  • 14 Jul 2023
  • David Missen
It was announced in the Autumn Statement that the business rating eligibility of properties used as furnished holiday lets would change from 5 April 2023.
Displaying 1-30 of 51 results

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