What Do Elephants and Farmhouses Have in Common?

What Do Elephants and Farmhouses Have in Common?

We originally published this post on the ‘Elephant Test’ on 23 September 2013 and updated it on 9 May 2024 for freshness, accuracy, and comprehensiveness. “Does Your Farmhouse Pass The Elephant Test?” Many farmers are not concerned with Inheritance Tax...
HMRC Lose VAT Battle as Farmers Dodge a Bullet

HMRC Lose VAT Battle as Farmers Dodge a Bullet

A Scottish farm business has won its battle against HMRC, enabling it to reclaim VAT payments worth more than £1m. The UK Supreme Court ruled in favour of Frank A Smart & Son Ltd after HMRC initially refused to let the company reclaim VAT incurred on the purchase...
Agricultural Flat Rate Scheme – Do You Qualify?

Agricultural Flat Rate Scheme – Do You Qualify?

Farmers may be eligible to apply for the Agricultural Flat Rate Scheme, as an alternative to voluntarily registering for VAT. Joining the scheme means that you can add a 4% Flat Rate Addition (FRA) to Vat-registered customers when supplying any of the qualifying goods...
HMRC Not So Merry With Wedding Venues

HMRC Not So Merry With Wedding Venues

Farmers hiring out land and buildings for wedding ceremonies may have to pay back thousands in back tax following a failed VAT appeal earlier this year. Blue Chip Hotels failed in their appeal to overturn more than £50,000 in VAT. The company argued that, as it didn’t...
HMRC Agricultural Compliance Checks

HMRC Agricultural Compliance Checks

In the rural sector, employers are being urged to check that they are paying the correct minimum wages rates where both the Agricultural Minimum Wage and the National Living Wage apply.  HMRC has launched a programme of compliance checks to ensure the correct rates...
Are you a farmer or a landlord?

Are you a farmer or a landlord?

There has always been uncertainty over whether a landowner is a farmer or a landlord for tax purposes. There has however, been a recent useful decision by the First Tier Tribunal in the case of John Carlisle Allen which has helped to clarify the capital gains tax...