4 September 1998


&#8226 COST cutting by Customs and Excise should mean fewer visits from the VATman, say chartered accountants Morison Stoneham.

Stressful and time consuming inspections will, it seems, be reserved for businesses believed to be supressing tax, along Inland Revenue lines. Honest farmers will only need to provide information either as a questionnairre, or as details from accounts, leaving them more time to farm.

&#8226 THE £s strength and the Asian financial crisis have "crippled" selling plans, according to the British Wool Marketing Board.

And there is little room for optimism about the future, says chairman Alun Evans, after a further 14% drop in New Zealand wool prices in the two months to July 98. The BWMBs results for the year to Apr 30 1998 show a 3% drop in producers to 79,851. Average clip rose from 600kg to 647kg.

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