Fraud warning for farmers
NatWest and RBS are warning businesses to be vigilant after a new twist on an old scam has seen businesses in the farming community lose hundreds of thousands of pounds so far this year. The scam, which has impacted both customers and non bank customers, often starts with a call purporting to be from the […]
Warning over HMRC proposals that will hamper succession planning
Farmers could face steep hikes in Inheritance Tax if new HMRC proposals regarding succession planning come into force, warns rural accountant Old Mill. Currently, landowners can put properties into trusts in order to hand them over to the next generation; often saving Capital Gains Tax and Inheritance Tax in the process, says head of rural […]
Reduction in ELS payments under the new Basic Payment Scheme
If you have a current Entry Level Stewardship (ELS) Agreement that started before 1 January 2012, you will not incur any deduction from your ELS payment. Sam Catling of Rostons Land & property Specialist comments “However, if you Agreement started after the 1 January 2012 and contains certain options that would qualify for ecological […]
Lloyds Bank grows Agriculture team by 20 per cent
Following consistent growth over the past five years in demand among farmers for lending and specialist banking guidance, Lloyds Bank has announced its intention to significantly strengthen its Agriculture division. Andrew Naylor has been appointed UK Director of Agriculture and will now be leading one of the largest agricultural banking teams in the UK, supported […]
Beware VAT costs on farm accommodation
New Permitted Development rules, which should benefit the rural sector by simplifying the planning process, unfortunately carry unforeseen tax implications, says head of rural services Andrew Vickery. “Under the new rules, planning consent is not required for, say, conversion of redundant outbuildings into residential accommodation. However, to secure VAT relief, planning consent must have been […]
Apply now for cash to promote and inform on EU agricultural produce
Producers of one or more of the products listed below can apply for up to half the cost of marketing their goods abroad in a scheme designed to raise awareness and increase sales of EU food products. The maximum rises to 60 percent for the promotion of fruit and vegetables intended specifically for children in […]
Defra flooding funding announcement
NFU President Meurig Raymond said: “The NFU welcomes the announcement by Defra with farmers hit by recent flooding being offered grants of up to £35,000. This funding is essential to help cover the costs of restoring damaged land following the unprecedented storms this winter. “We recognise that farmers have faced difficulties in applying for funding […]
Fraud warning for farmers
Farming businesses are being warned to stay alert after a spate of scams across the sector. NatWest’s dedicated agriculture team has noticed an increase in enquiries in recent months – among both customers and non bank customers. Ian Burrow, Head of Agriculture and Renewable Energy at NatWest, said: “We’ve been alerted to a scam that […]
£15,000 grants for young farming entrepreneurs in Wales
Young farming entrepreneurs in Wales looking to set up on their own for the first time could be able to claim a grant of up to £15,000 through the Young Entrants Support Scheme (YESS). Alun Davies, the Minister for Natural Resources and Food, has just approved almost £1.8 million to extend the scheme to support […]
