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Self Employed Income Support Scheme (SEISS) for the farming community
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.
Gifting developable barns
What are the tax implications of gifting developable barns within the farming family?
Splitting up the family farm
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.
What does the 2021 Budget mean for farmers?
The Chancellor, Rishi Sunak delivered his Budget for the 2021/22 tax year on Wednesday 3 March 2020. We have put together a summary of all the things you need to know on how his changes will impact the agriculture industry and rural community.
What are the Capital Gains Tax (CGT) implications on divorcing?
Breaking up can be hard to do especially with no tax costs! Divorcing is complicated in itself, let alone trying to navigate your tax position. When a marriage or civil partnership ends, tax is probably the last thing that the separating couples want to think about....
Key highlights from the UK Government Tax Day announcements
On 23 March 2021, the UK government held its first-ever ‘Tax Day’ whereby it published a series of tax documents and consultations. It is all a part of a move to strengthen policymaking and to help create a more “trusted, simple and modern tax system”.
5% penalty for late payment of tax waived until April 2021
Did you know that you will be liable to a 5% penalty in addition to interest charges if your tax is paid more than 30 days late?
VAT domestic reverse charge for construction services
On 1 March 2021, the VAT domestic reverse charge for building and construction services comes into effect, changing who pays VAT to HMRC.
End of year tax planning: Use your allowances before 5 April 2021
The UK tax year ends on 5 April and so February and March can provide a last-minute chance to save some tax with a bit of careful planning.
Fines and penalties for not completing your Self Assessment tax return
The 31 January Self Assessment tax return deadline is fast approaching. What are the financial implications if you miss the deadline?
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