Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
28 July 2023
Updated guidance from HMRC on land used for environmental activitiesAgriculture is going through the biggest change in a generation. Government policy is altering the landscape by seeking to introduce policies that work for farm businesses, food production and the environment (in terms of carbon and biodiversity).
12 July 2023
Maximising your capital expenditure with the Annual Investment AllowanceWith the introduction of the Basis Period Reform from April 2024, the way in which partnerships and self employed individuals are taxed under self assessment is changing for those who currently have an accounting year end that doesn’t align with the tax year of 5 April or 31 March.
27 April 2023
Planning for the Tax Year EndSome things are so unexpected that no one is prepared for them – previous years have definitely proved that point. However, the one constant we can rely on is the Tax Year End on 5 April. By planning in advance, you can maximise the valuable tax allowances available each tax year.
12 April 2023
How Farm Averaging Could Benefit Your BusinessGenerally, across the farming sector we have seen an increased profitability over the last couple of years. This is good news, although it can also lead to increased tax liabilities. Fortunately, there are tax reliefs available to potentially reduce these liabilities, as well as potentially improving cash flow at the same time.
03 March 2023
Capital Allowances appeals on agricultural buildings reap rewards for taxpayersTwo recent Capital Allowances cases have set an interesting precedent for claims on farming and food production buildings, and what type of expenditure may in fact qualify for the tax relief.
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