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...
Keeping it in the family – a guide to generational wealth planning
Whitley Stimpson in conjunction with Wise Investment are hosting a series of two webinars about a fictional family who find themselves with financial decisions to make. About the webinars The webinars will be held on Thursday 17th February and Thursday 3rd March, both...
New corporation tax rates: are you ready?
Depending on your profits, the new corporation tax rates may not affect you at all. Even if your bill does rise, there are steps you can take to reduce the burden.