Andrew Robinson encourages farmers to prepare their farm businesses for Making Tax Digital and highlights the time and money-saving benefits in the long-run.
If your taxable turnover is over £85,000 then you should by now have signed up to Making Tax Digital (MTD) and be submitting your VAT figures using the MTD VAT return in Xero or other compatible software.
Under Making Tax Digital (MTD) businesses need to grant permission for their accounts software providers to access their HMRC data and this permission must be updated every 18 months.
What are the Office of Tax Simplification (OTS) tax recommendations, and how will they affect farmers and landowners who are planning to sell assets in the next few years.
The Government has committed to maintaining total spending on agriculture until the end of 2024, so money taken off the Basic Payment Scheme (BPS) payments will be available under the following new schemes.
An update on filing your tax returns and paying your tax bill by the 31 January deadline including information on late filing, time to pay, penalties and interest.
With the UK having left the EU, many European businesses are looking to create a presence in the UK. Tax Director, Becky Bowness explains the tax reasons for establishing a branch or incorporating a UK subsidiary post Brexit.