Blog
Summary of the taxation treatment of commercial vehicles
We have put together a summary of the tax treatment of commercial vehicles below.What is classified as a commercial vehicle? A commercial vehicle is classed as one which: Its main purpose is to transport goods/materials or paying passengers. Has a payload of more than...
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.
How best to own property Webinar
March 2021
In this webinar, the Ellacotts team look at how best to own property.
Inheritance Tax planning Webinar
March 2021
In this webinar, the Ellacotts team explain everything you need to be aware of to minimise your Inheritance Tax liability, including: How to structure your affairs tax efficiently, Reliefs that can be used, School fees planning, Pre-owned assets, Planning and accounting for trusts and Lifetime gifts from income or capital.
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?
Could you claim an Inheritance Tax refund?
If you inherited a property that you then sold for less than the property was valued upon death, you could get a refund for the difference of the Inheritance Tax.
How to ensure maximum tax relief on your farm expenditure
Deciding whether to maintain and repair the farmyard, farm buildings and machinery or invest in improvements can be difficult. Any available tax relief must be maximised. Tax relief can determine whether a proposal to build or refurbish farm buildings is financially...
Annual Investment Allowance (AIA) decreases from £1M to £200K from January 2022
The Government has announced that the current Annual Investment Allowance (AIA) of £1,000,000, which was due to revert down to £200,000 on 1 January 2021, will be extended for a further year to 1 January 2022.
Do you have development land? Things to consider before selling
If you are one of the lucky landowners, with either residential or commercial development possibilities, then you may be looking to sell. Although this can be a good idea, it’s important to be cautious.The number of farmers and landowners being approached by...
Agriculture and Property Accounts Manager – Kettering
We have an exciting opportunity for an experienced Qualified Accountant to join us as an Agricultural and Property Accounts Manager in our Kettering office.
How to give tax free gifts to employees
Even though the normal office Christmas party might be banned, there are still ways to reward your employees for their hard work through a Benefit in Kind (BiK).
Succession planning and disputes over inheritance expectations in farming families
Succession planning is never easy and if not properly considered and discussed, disputes over inheritance expectations can arise.
Top tax tips for farming families
Our top tax tips for farming families and those in the agriculture industry.
New 60 day reporting and payment rules for Capital Gains Tax due on the sale of residential property
From April 2020, there are changes to how long you have to pay your Capital Gains Tax (CGT) when selling residential property.
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Banbury
Countrywide House
23 West Bar Street
Banbury
Oxfordshire
OX16 9SA
T: +44 (0)1295 250401
Birmingham
Kettering
2700 Kettering Parkway
Kettering Venture Park
Kettering
Northamptonshire
NN15 6XR
T: +44 (0)1536 646000