Can You Claim Research & Development Tax Credits?

Can You Claim Research & Development Tax Credits?

Many farming businesses which trade as Limited Companies are thought to be missing out on valuable Research & Development tax credits. Corporation Tax credits have been available for many years but are being overlooked in the field of agriculture, the main issues...
Land Transaction Tax on Business Restructure

Land Transaction Tax on Business Restructure

If you are planning on restructuring your family business, it’s likely you’ve considered the tax and VAT positions. It’s important however not to neglect Land Transaction Tax (LTT), or Stamp Duty Land Tax (SDLT) if in England. Often overlooked, LTT can arise when an...
Feel the Benefits of Five-Year Averaging

Feel the Benefits of Five-Year Averaging

Five-year averaging has the potential to offer farmers big tax savings, by reducing tax rates and allowing retrospective claiming of beneficial tax reliefs. From 2016-17, HMRC agreed farmers could, under certain circumstances, chose to average their profits over two...
Is a Grain Silo Plant?

Is a Grain Silo Plant?

The age old conundrum of whether an item is classed as “plant” for capital allowances, or whether the expenditure was on a building or structure can be difficult to resolve but with different allowances for each category, it is important to be sure expenditure is...
Plan Ahead for New Machinery Purchases

Plan Ahead for New Machinery Purchases

Farmers across the UK are being urged to make sure they take full advantage of the new Annual Investment Allowance (AIA) of £1million which came into force on 1 January 2019 and will remain at that level for 2 years. AIA gives 100% tax relief on the cost of new plant...
New Tax Relief on the Cost of New Farm Buildings

New Tax Relief on the Cost of New Farm Buildings

In the Budget the Chancellor announced that there will be a new Structures and Buildings Allowance for the cost of new commercial buildings after 29 October 2019. The tax relief will be 2% of the cost per year for 50 years. Clearly 2% is a low % but it is a lot higher...