Year: 2017

Making Tax Digital (MTD) was initially scheduled to be rolled out nationwide from April 2018 for the majority of unincorporated businesses and landlords, however on 13 July 2017, the Government…

Building a new farmhouse or converting an old barn into residential property is generally not considered part of the farm trading activity, therefore VAT incurred on such projects cannot normally…

Agricultural Property Relief (APR) is a very favourable Inheritance Tax relief in the UK that can often be taken for granted. There is frequent speculation amongst tax advisors concerning the…

Whilst it is highly encouraged to make adequate provision for retirement to avoid being solely dependent on the State Pension in later years, there is no doubt that the State…

Financial Reporting Standard (FRS) 102 now applies to all companies, other than micro entities that elect to adopt FRS 105. These new Accounting Standards are not restricted to limited companies…

Farming profits can be volatile and the availability of 100% Annual Investment Allowance on new plant and machinery can easily create taxable losses when expensive equipment needs replacing. The ability…

As covered in our featured article, a new Inheritance Tax nil rate band has been introduced from April 2017 specifically relating to the main residence of the deceased. Starting at…

Last month we highlighted a proposed change to Probate Registry Fees from a flat rate of £155 or £215 to a fee structure which is scaled based on the value…

A Grant of Representation (known as Probate) is required when: Property (houses, buildings or land) is owned by the deceased either in their sole name or in joint names as…

Michael Parker, the Head of Tax at NFU gave evidence to the House of Lords committee recently to express concerns relating to HM Revenue and Customs’ (HMRC) ‘Making Tax Digital’…