The way in which HMRC charges penalties for late VAT return submissions and late VAT payments has changed. All VAT return periods starting on or after 1 January 2023 will be caught under the new VAT penalty system.
Tom May considers the complications multiple properties and periods away can bring and the impact on Private Residential Relief.
Purchasing machinery is a huge financial commitment and when timed right can be extremely tax efficient. In years where there has been a good harvest, re-investing some of that profit into new plant and machinery before the end of the year is one of the best tools to reduce your tax liability.
Many businesses were impacted by the Coronavirus (COVID-19) pandemic and as a result, claimed the Self-employment Income Support Scheme (SEISS) grant offered by the Government.
What are the tax implications of gifting developable barns within the farming family?
Splitting up the family farming business often results in two very strong operations that benefit from one another’s support and close working. Take a look at everything you need to know when splitting up your farming business within the family.
Deciding whether to maintain and repair the farmyard, farm buildings and machinery or invest in improvements can be...
If you are one of the lucky landowners, with either residential or commercial development possibilities, then you may...
Succession planning is never easy and if not properly considered and discussed, disputes over inheritance expectations can arise.
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