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.

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BUSINESS CLINIC

Business Clinic: How to charge VAT correctly on cropping

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Mary Maclachlan, VAT specialist with Duncan & Toplis, explains the different…

TAX

Structures and buildings allowance – a guide for farmers

The announcement of a new structures and buildings allowance (SBA) in the Autumn Budget 2018 means erecting and refurbishing farm buildings is now more financially viable. Accountant Old Mill says…

TAX

Business rates on diversifications: What farmers need to know

Farmers with incomes from diversification projects could face significant bills from their local authority if they overlook the potential pitfalls associated with business rates, an agricultural consultant warns.

 Business rates…

TAX

Caution urged when seeking to reduce tax payments on account

Dairy farmers are being advised to take a cautious approach if they are looking to reduce their January tax bill because of lower profit expectations for the 2018-19 milk year.…

BUSINESS CLINIC

Business Clinic: Is stamp duty payable on land transfer?

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Peter Griffiths, tax director, Hazlewoods advises on farm asset management. Q My…

TAX

How tax relief can reduce the cost of buying a farm

Farm buyers often do not realise that they could claim tax relief on parts of their purchase. In many instances, relief is available on the value of plant, machinery and…

BUSINESS CLINIC

Business Clinic: Using arable profits to prepare for Brexit

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 tax…

BUSINESS CLINIC

Business Clinic: Is rollover relief repaid on death?

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here Peter Griffiths, tax director at accountant Hazlewoods, offers advice on how…

BUSINESS CLINIC

Business Clinic: Must I hold farm assets until I die?

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 tax…

TAX

Claiming exemption from VAT changes: What you need to know

Changes to the way VAT is submitted, coming next April, will affect nearly all businesses with a turnover of more than £85,000, but HMRC has given details on who is…

TENANCIES AND RENTS

Top 8 farm tenancy issues and how to solve them

Many issues are likely to arise during the lifetime of an agricultural tenancy, but all can be solved with good landlord-tenant communication, informed consent and careful consideration, writes Philip Meade, Davis…

BUSINESS CLINIC

Business Clinic: Tax implications of letting out farm land

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Peter Griffiths, tax director at Hazlewoods, advises on the tax considerations…

Insights

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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…