Sheep grazing next to solar panels© FLPA/Rex/Shutterstock
The tax considerations of diversification are wide ranging and it is very important that the correct structure is chosen from the outset. The simplest approach may be to include the diversification project within the current farming business, says Lisa Oliver, associate director at accountants Hazlewoods. “The main advantage of this is simplicity, as all income and expenses will go through the existing farming partnership under one VAT registration, with no need for a further set of accounts.” However, depending on […]