Know How / Tax Must reads Common farm VAT mistakes and how to avoid them Company accounts reform: What it means for farm businesses Changing land use – tax, legal and planning considerations Tax tips for farm holiday accommodation management Practical adviceSee all TAXAdvice on tax implications of restructuring a farm businessHigh land values mean the tax risks of poor planning and rushed decisions can prove very expensive. Poor decisions can arise for many reasons, including family or financial pressure, grudges,… BUSINESS CLINICBusiness Clinic: IHT implications of mother moving back in?Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Carly Drummond, senior tax manager at MHA, advises on a farming family situation… TAXCommon farm VAT mistakes and how to avoid themFrom confusion over which goods and services are VAT-exempt and zero-rated, to wrongly reclaiming the tax on feed and vet fees for a child’s pet pony, often it is the… BUSINESSFarm visitor attractions facing ‘unfair’ business ratesFarm attractions should consider challenging their assessments for business rates, say advisers, as they are being overcharged by up to £3m a year. This is as a result of the… BUSINESS CLINICBusiness Clinic: Can I put land and buildings in a pension?Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Neil Berry, partner at MHA, offers advice on how land and buildings can… BUSINESS CLINICBusiness Clinic: Does diversification risk tax relief loss?Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Joe Spencer, partner at MHA, offers advice on tax reliefs for diversification. See… TAXTax tips for farm holiday accommodation managementThere are many aspects of tax that holiday accommodation operators must get right in the day-to-day management of their businesses to satisfy HMRC and capitalise on the reliefs available. There… TAXCapital allowances – opportunities and pitfalls for farmersIt is more important than ever to understand the capital allowance regime. Any potential large capital expenditure should be planned well in advance and discussed with an accountant so that… TAXLoss of BPS value could cut CGT bill on other assetsBPS 2023 claims in England must be made by midnight on 15 May. After this, entitlements will have no value and will no longer be tradeable. Those who bought, were… DIVERSIFICATIONChanging land use – tax, legal and planning considerationsThe latest Defra farm business survey shows that 68% of UK farms have some form of diversified activity. From smaller-scale alternative business ventures such as camping and hosting weddings, to… BUSINESS CLINICBusiness Clinic: Capital allowance timing issues with HPWhether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s experts can help. Andrew Robinson, partner and head of agriculture at Armstrong Watson, advises on hire purchases (HPs)… TAXProbate: What farming families need to knowMost farming families will encounter the probate process following the death of someone involved in the business. The process is important for anyone passing on the assets of a farming… InsightsSee all TAXAPR restriction to minimum eight-year tenancy prompts clashA Budget consultation on inheritance tax (IHT) calling for views on restricting agricultural property relief (APR) to tenancies of at least eight years has produced a wide range of views.… BUSINESSIHT: Farmers call for natural capital payment changesFarm and rural leaders have set out their thoughts on how to tackle the inheritance tax risks which are acting as an obstacle to farmers entering more land into environmental… BUSINESS MANAGEMENTCompany accounts reform: What it means for farm businessesFarm businesses trading as a limited company are likely to be affected by reforms to the way they prepare and file their accounts. The government is pushing forward with plans… BUSINESSAD plant operators challenge business rates hikeA huge hike in business rates for anaerobic digester plants in England and Wales is being challenged by a growing number of operators and farmers. In the past 10 years… POULTRYThe cash poultry farmers could be missing out onMany poultry farmers are eligible for tax relief, often to the tune of tens of thousands of pounds, simply for developing innovative ways of working. Those don’t have to be… ARABLEHow growers can claim cash for the way they farmPlanting crops to suit soil type, improving soil structure and reducing fertiliser use – just three ways growers could be finanically rewarded for the way they farm. Anything that improves… BUSINESSCould you be sitting on thousands in land tax relief?Farmers could be missing out on as much as £50,000 of tax relief on land they bought in a derelict or contaminated state and returned to productivity. Land Remediation Relief,… TAXNow is the time for succession planningIf you are considering succession planning or a restructure of your farming business now would be a good time to put those plans in place while the reliefs are available… BUSINESSFarm buildings on estates – don't miss out on tax reliefsFrom January 1st 2021 the Annual Investment Allowance is being reduced from £1m to £200,000 per annum and the reduction in Writing Down Allowances on special rate assets reduced from… TAXHow farmers can claim R&D tax creditsBritish farmers are among the most innovative in the world, constantly experimenting with new techniques and tools to improve the performance of their farm business. But many don’t realise that… BUSINESSColin Muller considers Labour's land policyWith a General Election in full swing in this article, Colin offers farmers and landowners his view on how the Labour Party Manifesto Proposals affect them. With a General Election… BUSINESSWebinar: Succession and tax: What to consider when planningFarmers Weekly and Baldwins have partnered to bring you Succession and Tax – What to consider when planning. Failure to plan adequately for succession represents one of the biggest risks…
