Basis period reform – how HMRC’s latest income tax proposals may have a disproportionate impact on farmers
In April last year, the Government announced plans to overhaul the way trading income is taxed. If enshrined into law – and that is looking to be highly likely – the Basis Period Reform will affect organisations or individuals with a trading income that is subject to...
Farming and capital allowances – the advantages and pitfalls
Capital allowances are a useful form of tax relief for businesses that need to invest in expensive plant and machinery to operate successfully, including many farm enterprises. There are a number of different types, but they all essentially fulfil the same function –...
The importance of a properly worded grazing license
Of all the legal and property agreements entered into by farmers and landowners, the lowly grazing license might seem a long way down the list of priorities. But treating it that way is false economy. A poorly worded grazing license – one that is written without any...
Autumn Budget: What the Chancellor didn’t say
Amid the rumours prior to Autumn’s Budget were several policies which didn’t make the final cut. What were they and how can you benefit from their omission?
Car or van – what’s the difference for businesses?
In day-to-day life, few of us would struggle to tell the difference between a car and a van. But as is often the case, things aren’t so straightforward in the world of tax.