Rural Leisure Businesses & Heritage Venues could come under HMRC Tax on Tips Spotlight, say Saffery Champness
HMRC has recently announced that new industry-specific task forces are being set up to target tax evasion. While the first task force will target the restaurant trade in London, those in Scotland and North West England will be the next in line for investigation. The Landed Estates and Rural Business Group at accountancy firm Saffery […]
Hassle free a recipe for farming success
A new business venture combining caravans, camping and coast to coast cycling is proving a sound investment for farmers Robert and Julie Pickthall from Cumbria. After buying the Mains Farm in 1988, Robert and Julie ran the family business at Kirkoswald near Penrith for 20 years as a dairy farm supplemented with sheep. In 2007, […]
Barclays supports expansion of Welsh pigmeat production
Barclays has provided financial support for a farm on the beautiful Gower peninsula in South Wales to establish the country’s largest herd of Welsh pigs. Ken Austin who owns Burry Farm has recently managed a successful sheep enterprise and turf company, but previously kept a prize-winning herd of Welsh pigs. When he read an article […]
Print story clarification – Single Farm Payment date
We would like to point out that in our March printed edition, it was stated by Moneycorp that the deadline for Single Farm patment applications was 4th April. It was not made clear that this was for Northern Ireland and was not applicable for England. The actual deadline for applications in England is 16th May. […]
Farm-focussed financial services team strengthens Lloyds Banking Group’s commitment to agriculture
A new team of agricultural Wealth Management specialists offering expert financial planning advice to farmers for both personal and business matters, such as protection, pensions, investments and inheritance tax planning, has been launched by Lloyds TSB Agriculture and Bank of Scotland. The 16-strong team will enhance the existing specialist agricultural banking network of nearly 170 […]
Rising cost of vets bills push up horse claims
Rising vets bills are leading to a marked increase in the cost of horse insurance claims, according to South West based insurance firm Cornish Mutual. The insurer, which has offices in Exeter and Truro, believes veterinary treatment fees for horses are pushing up the price of insurance premiums, with the increase well ahead of the […]
Static bank rate hides underlying indicators of future rises
The Bank of England may have kept interest rates on hold again, but farmers have been warned that the cost of borrowing could be set to rise. The base rate has been at 0.5% since March 2009 and the Bank of England has the delicate task of addressing rising inflation without hindering economic recovery. Last […]
Top Tax Tips for Farmers & Landowners, from Saffery Champness
Saffery Champness Landed Estates & Rural Business Group has listed its Top Tax Tips for landowners and farmers for the financial year ahead. 1. Don’t pay more tax than you have to for 2010/11. The top rate of tax for 2010/11 is 50%, but even if your profits are more modest you still may be paying tax at […]
Taxman Launches an attack on Farms and Small Rural Businesses
HMRC has unveiled plans to target small and medium sized businesses (SMEs) keeping inaccurate trading records. The initiative to investigate and penalise up to 50,000 SMEs a year, which would include many farms and rural businesses, could bring in up to 600m in fines for the government. Initial plans see the HMRC examining full sets […]
