Top tips for a stress-free year end
With the end of the tax year growing closer, time is running out for farmers and farm managers to make sure their farm accounts are in order before submitting them to their accountant.
All change for capital allowances
The ‘super deduction’ capital allowances, which provide companies with a deduction of 130% of the cost of new plant and machinery, will end for expenditure incurred after 31 March 2023 as scheduled.
A Good Average
If you’re concerned about facing a crippling tax bill that essentially penalises you for being good at your job, you may be able to average them out over the past two or five years, to make your tax burden less bothersome.
Bitter Sweet Breaks
Dividing the assets of a farming business, particularly if both parties are directors, can be a significant undertaking for couples that separate.
Farms Scams on the Rise
With the cost of living crisis putting a squeeze on everyone’s pockets, the incidence of online scams and frauds is, perhaps unsurprisingly, going through the roof.
Voluntary Carbon Credit Schemes – Welcome New Revenue or Storing up Problems?
Regenerative farming is a buzz word at the moment. With a host of incentive schemes popping up to encourage farmers to do more to protect the environment and language of all its own – think carbon credits, rewilding, sequestration, and more.