Know How / Tax

Taking advantage of the valuable tax reliefs available to many farming businesses requires careful planning. Read practical advice on ways you can maximise tax reliefs and minimise your liabilities for inheritance, capital gains and income tax, while remaining tax compliant.

Practical advice

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TAX

Q&A guide to claiming tax relief on energy-efficient kit

There are just two months left in which to take advantage of a government scheme encouraging businesses to invest in energy efficient equipment. The Energy Technology List (ETL) covers a…

BUSINESS CLINIC

Business Clinic: Can I recover VAT on farmhouse expenditure?

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s experts can help. Here, Liz Jones, a partner with Baldwins, addresses the issue of reclaiming VAT on farmhouse expenditure.…

TAX

Why challenging your council tax band can recoup thousands

Farm business owners could be due rebates worth thousands of pounds in over-paid council tax on incorrectly valued property. As much as £20,000 has been returned to farmers whose property…

BUSINESS CLINIC

Business Clinic: How to hand the business over to my son

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s experts can help. Here, Mark Chatterton of Duncan & Toplis advises on how best to structure a multigenerational…

TAX

Hosting a shoot? Here's what you need to know about tax

Farmers who host a shoot need to have a clear understanding of whether it is classified as a hobby or a fully fledged business in the eyes of HMRC to…

TAX

How to protect property relief if using a grazing licence

Farmers who let land out under a grazing licence should keep records of their active role in managing the land if they want their estate to be eligible for agricultural…

TAX

How farms can claw back cash through R&D tax credits

Farming businesses clawed back £20m from HMRC last year in the form of research and development (R&D) tax credits, but advisers say there is potential for more companies to claim.…

BUSINESS CLINIC

Business Clinic: What are the rules on capital allowances?

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s experts can help. Here, Alan Taylor of accountant Baldwins answers three questions on how the Annual Investment Allowance…

BUSINESS

Business Clinic: Is CGT due on sale of farm building?

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Mark Chatterton of accountant Duncan & Toplis advises on the capital…

BUSINESS

Business Clinic: Farm valuation for probate – which to use?

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s experts can help. Here, Jack Sharpe of Carter Jonas advises on the importance of getting a formal valuation…

TAX

HMRC targets self-employed workers in tax clampdown

The government is clamping down on farm businesses where workers have switched to self-employed status, accountants and legal experts have warned. In the past, farming businesses often had several workers…

Insights

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TAX

Farmers caught in development tax postcode lottery

Agricultural buildings and developments are being taxed inconsistently across Britain, at a cost of thousands of pounds to the farmers caught up in a postcode lottery. The community infrastructure levy…

BUSINESS

Rollover relief - what is it and how does it work?

Buyers with rollover funds are the driving force behind many farmland purchases. With growing numbers of development deals in the pipeline, more landowners are likely to find themselves in this…