Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
Tony Cochrane
VAT Senior Manager
13 September 2021
Diversifying your rural business - benefit from ever-changing VAT rulesMany rural businesses have diversified, or are considering diversifying, into hospitality and leisure activities as an additional income stream. In the midst of the coronavirus pandemic in 2020, Chancellor Rishi Sunak announced a temporary 5% reduced rate of VAT for hospitality and tourism activities. This period of reduced VAT is coming to an end on 30 September 2021, with a new 12.5% reduced rate applying from 1 October 2021 to 31 March 2022.
Senga Prior
Tax Senior Manager
08 August 2021
Tax considerations for furnished holiday letsA popular way for farmers to generate additional income is the letting of excess farm cottages as furnished accommodation on short-term lets, also known as furnished holiday lets (FHLs). Some have gone even further, building bespoke cottages or cabins.
29 June 2021
Investment incentives - be aware of upcoming changes to AIASignificant changes to the Annual Investment Allowance (AIA) are anticipated to come into force in January 2022, which may influence your decision about the best time to invest in plant and machinery for your business.
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