DEFRA have now issued the consultation document regarding the lump sum payment for exiting agriculture. Having listened to the NFU webinar concerning this it seems to me that the lump sum, whilst being attractive from a cash flow perspective, has little else too recommend it. Clearly we have a lot more to learn and in…
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It is widely known in the healthcare industry that NHS England announced last year they would make good any annual allowance excess charge arising for staff in 2019/20 only. This came off the back of the announcement that the thresholds for tapering to the annual allowance would be increased from 2020/21, with no intention to…
The proposed new rules apply regarding who determines IR35 status for freelancers hired by medium and large companies are imminent. Our Brief Guide will help find out how this affects you and what you can do: A Brief Guide to Off-Payroll Working Blog entry by: Vanessa Pearson
I hear a rumour that Lloyds Agricultural banking team based in Edinburgh has been disbanded and merged within other teams around the country. Although some within the new regional teams may have some knowledge of agriculture it has been suggested that customers felt that this was not important. It seems that the agricultural specialism within…
There has been an ongoing debate since the government started to reduce tax relief available on mortgage interest that having property in a company could be more beneficial. In order to transfer the property from personal ownership there could be a CGT charge depending on the difference in value from when you bought it…
With the reduction of the Basic Payment Scheme (BPS) starting in 2021, many farmers may be looking to other income streams to bolster their finances. If this is you, then don’t delay looking into and applying for Countryside Stewardship Schemes (CSS). The window is open now for applications for schemes beginning on 1 January…
In what was seen my many as a Budget lacking in ideas to kick start the economy back into life, Rishi Sunak’s announcement of a notional 30% uplift to eligible capital allowances headlined as the proverbial ‘rabbit out of the hat’. The tweaked allowances will give businesses purchasing brand new plant and machinery more tax…
VAT registered businesses working within the construction sector should be aware that new domestic reverse charge VAT administration rules are being introduced wef 1 March 2021 (delayed from original October 2019 launch date). The Government announced in the 2018 Budget that they are trying to reduce missing trader fraud; where builders collect VAT from their…
The new private sector off-payroll rules are due to start from 6 April 2021 and HMRC have published their latest guidance – here. The changes move the responsibility for determining a contractor’s IR35 status from the worker’s personal service company to the end client engaging them, where the end client is a medium/large business.…
During this unforeseen prolonged period of economic downturn charities may need to re-assess their short to long term aims. Certain planned activities may need to be delayed or even cancelled while more crucial expenditure takes priority. Charities may find it necessary to make use of their reserves to cope, or even just survive, this on-going…
