IN BRIEF
IN BRIEF
uDURING such difficult times for farmers it is even more important to plan ahead to minimise tax and maximise income, says Scottish accountant W D Johnston & Carmichael. The firm has produced an online guide as to what measures are available to ease the problems caused by foot-and-mouth and other crises in the industry. These include spreading the tax liabilities resulting from F&M compensation over a number of years. The advice can be found on the internet at www.wdjc.co.uk
uBUSINESSES will not have to pay interest on tax deferred as a result of financial difficulty brought about by the foot-and-mouth crisis. Denise Ranger, of Tenon Rural Services Swindon office, said: "There was some ambiguity as to whether businesses would have to pay interest on deferred payments." But a recent clause introduced to the Finance Bill confirms that the Inland Revenue can waive interest charges in all circumstances of the F&M disease outbreak. *