Agriculture News

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What businesses need to know about the new GDPR

The General Data Protection Regulation (GDPR) is set to come into force from May 2018. It will replace the current Data Protection Act and is the biggest overhaul of data protection legislation for over 25 years. GDPR will change the way organisations...

Input Tax – Beware of the pitfalls!

VAT expert Tony Nickson outlines the pitfalls to avoid when reclaiming input VAT. 1. Reclaims for purchases made before VAT registration It is important to ensure that the maximum amount of input VAT is reclaimed on your business expenditure. This includes...

R&D tax incentives – don’t miss out!

Research and Development (R&D) tax incentives can provide additional tax deductions and enhanced cash flow for companies that develop new products, processes or services. Although widely available, many companies wrongly believe they are not eligible for R&D...

Farmers’ Averaging: It pays to spread

The tax relief known as farmers' averaging is designed to provide tax relief for farmers who can be affected by fluctuating profits. Averaging rules were first introduced to the UK tax system in 1997. Two consecutive years can be added together and half assessed in...

The Election result: What are the tax implications?

The general election has ended in a hung parliament – the Conservative party have the most seats but do not have an overall majority. Theresa May has announced that she will form a government with the support of the Democratic Unionist Party (DUP). What does this...

Agriculture General Election Special

The General Election is just around the corner, so we take a look at what some of the parties are promising in this Agriculture Election Special. The Conservative manifesto has pledged to maintain support payments at their current level until 2022, which is an extra...

Agriculture update for UK farmers – May 2017

With Britain's agriculture sector watching Brexit closely following the triggering of Article 50, the UK also announced a snap General Election due to take place on the 8 June. The sector will be closely monitoring each parties manifesto to determine which is best for...

National living wage – rising wage costs for employers

The National Living Wage From 1 April 2016, following the introduction of the new National Living Wage, all workers aged 25 and over are legally entitled to at least £7.20 per hour. This was, however, until the Chancellor delivered his Autumn Statement, where he...

Renewable Energy

Anaerobic Digestion (AD): Biogas Renewables have grown rapidly in the last 10 years, mainly because of public financial support. However, the cost to the Exchequer has seen support levels cut over the past few years. Actual renewable energy was 8.3% in 2015 compared...

Agriculture 2017 Budget review and analysis

The Chancellor Philip Hammond presented the last Spring Budget on Wednesday 8 March 2017. In his speech the Chancellor was keen to point out that he wanted the tax system to be fair, particularly in relation to the distinction between employed and self-employed...

Small business 2017 Budget review and analysis for SMEs

The Chancellor Philip Hammond presented the last Spring Budget on Wednesday 8 March 2017. In his speech the Chancellor was keen to point out that he wanted the tax system to be fair, particularly in relation to the distinction between employed and self-employed...

Tax Rates and Allowances 2017/18

Tax Rates and Allowances 2017/18 Many of the tax rates and allowances are fundamental to our business and personal lives and the most important ones for the 2017/18 tax year are summarised here. We are sure that you will find it a useful point of reference throughout...

Agriculture update for UK farmers – February 2017

Brexit The government White Paper (WP) on Brexit was issued on 2nd February 2017. The Governments priority is stated as securing the most open trade possible in goods and services between the UK and the EU. The WP quotes that UK exports to the EU of agriculture,...

Brexit and Agriculture: The potential choices

The Prime Minister has made the initial announcement about the path to Brexit. What form will Brexit take? In this article, we look at agriculture's Brexit choices. Hard Brexit: The World Trade Organisation (WTO) This scenario involves walking away from the EU, taking...

Agriculture Autumn Statement 2016 review

Philip Hammond presented his 2016 Autumn Statement on Wednesday 23rd November. His speech set out both tax and economic measures. In this article, we summarise the key points arising from the Autumn Statement and focus on what the changes may mean for the...

The Autumn Statement 2016 predictions

The Autumn Statement 2016 on Wednesday is set to be an important event.  It will be the Chancellor’s first opportunity to outline his plans for taxes & spending in the wake of the Brexit vote. But what tax changes can we expect in the upcoming Autumn Statement? ...

New polymer banknotes start circulation with £5 note

The 13th September marked the first day of the brand new polymer banknotes being issued. The £5 note is the first of the banknotes to be launched in England and Wales. The polymer made banknotes are much more durable than the old banknotes and can withstand getting...

Reminder: National Minimum Wage to rise again October 2016

This article is a short reminder that National Minimum Wage will increase from 1 October 2016, following the Government's decision to accept recommendations from the Low Pay Commission (LPC) earlier this year. The main National Minimum Wage rate (for 21- 24 year olds)...

4 succession planning tips for the family farm

Have you thought about succession and the long-term plans for your family farm? Succession planning is all about working with your family and is an essential part of running your family farm – used to protect your assets, your business and your family. This article...

Brexit: what does it really mean for UK farming?

Now Brexit is confirmed, many farmers may be thinking about how the UK’s exit from the European Union may impact them. In the lead up to the EU referendum a Farmers Weekly survey found that 58% of farmers backed an EU exit – but what will happen now and how will UK...

Brexit: tax implications as the UK votes to leave the EU

From the argument over selling bendy bananas to the threat of an emergency Budget, the EU referendum campaign has undoubtedly had its share of the headlines over the past couple of months. The biggest headline now though is of course that the UK has voted to leave the...

£17m funding available for training in the Sheffield City Region

Do you know about the new Skills Bank for the Sheffield City Region? The Skills Bank is a government/LEP initiative aimed at workforce training and development in the Sheffield City Region. It is a £17m fund - new for 2016 - comprising of funding from the European...

Agriculture update for UK farmers – May 2016

Welcome to our latest agriculture update for UK farmers. Please do register for our agriculture newsletter if you would like to receive the agriculture update each month, along with our quarterly agriculture newsletter and topical sector developments. Total Income...

Expenses exemption to replace dispensations from 6 April 2016

Are you aware of the changes to dispensations? In the past, many businesses have applied to HMRC for dispensations. Dispensations have allowed expenses and benefits to be provided to employees without being included on a P11D or subject to PAYE and NIC. A dispensation...

Agriculture update for UK farmers – April 2016

Welcome to our latest agriculture update for UK farmers. Please do register for our agriculture newsletter if you would like to receive the agriculture update each month, along with our quarterly agriculture newsletter and topical sector developments. Farm leaders...

National Minimum Wage to rise again in October 2016

The government announced increases to the National Minimum Wage, effective 1 October 2016, after accepting recommendations for the new rates from the Low Pay Commission (LPC). The main National Minimum Wage rate (for 21- 24 year olds) will rise by 3.7% from £6.70 to...

Agriculture 2016 Budget review and analysis for farmers

Welcome to our agriculture 2016 Budget review Following a year in which the Chancellor had a pre-election Budget in March, a surprise summer Budget in July and an Autumn Statement in November, on 16 March the Chancellor delivered his first Budget of 2016. In this...

Small business 2016 Budget review and analysis for SMEs

Welcome to our small business 2016 Budget review On 16 March, the Chancellor delivered his first Budget of 2016. In the lead up to the 2016 Budget there were a number of potential measures which many small business owners may have been hoping for, including an...

Tax Rates and allowances 2016/17 – summary and details

Tax Rates and Allowances 2016/17 Many of the tax rates and allowances are fundamental to our business and personal lives and the main ones for the 2016/17 tax year are summarised here. We are sure that you will find it a useful point of reference throughout the coming...

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