Category: Uncategorized

We are often asked by our farming clients whether they can recover the input VAT incurred on their rented farm cottages or other residential properties. The answer is not a…

Landowners can receive very favourable Inheritance Tax (IHT) treatment in respect of the value of their farming assets if they are actively involved in a farming trade. On death it…

The rate of Inheritance Tax (IHT) applied to a person’s Estate on death is 40% on all chargeable assets above a certain threshold, the nil rate band.  Business assets and…

What is it? Rollover Relief is a Capital Gains Tax (CGT) relief which may apply if you sell certain business assets and use all or part of the proceeds to…

The RDPE Countryside Productivity Scheme provides funding for projects in England which improve productivity in the farming and forestry sectors and help create jobs and growth in the rural economy….

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…