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By David Threlkeld

13th June 2024

Will Furnished Holiday Letting tax reliefs be abolished or not?

Holiday let owners braced for increased tax bills now face a period of uncertainty about when - and if – the favourable Furnished Holiday Letting regime will be axed.

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By Karen Thomson

23rd May 2024

Seasonal workers and zero-hours contracts holiday pay changes: is your business prepared?

Changes to simplify holiday entitlement and holiday pay calculations have been introduced  to protect part-year workers, and those working irregular hours or on zero-hours contracts. This is particularly relevant to those in hospitality leisure and tourism, agriculture and the charity sector.

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By Andrew Robinson

7th May 2024

Family Business Report 2024: Farmers concerned about inflation and cashflow feel under pressure to adapt

This was one of the key findings from Armstrong Watson's latest survey, which also asked the agricultural sector about challenges impacting growth, how they are adapting to the evolving digital world, and about their plans for succession. 

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By Andrew Robinson

3rd May 2024

What does the change in basis period mean for me and my farming business?

New legislation that affects how sole traders and partnerships are taxed came into play on 6 April 2024. It means that businesses will be taxed on profits generated in a fiscal year and not those aligned to the business’s accounting year-end.

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By David Threlkeld

28th March 2024

Impact of Spring Budget announcements for farmers

The 2024 Spring Budget introduced some changes that will significantly impact farm businesses, especially those that have ventured into the realm of furnished holiday lets.

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By Dan Cozens

29th February 2024

Tax relief on farm vehicles for farming partnerships and sole traders

Following the Government’s recent U-turn on the tax treatment of Double Cab Pick Ups (DCPU), it’s worth reminding ourselves of the tax relief available on vehicles in a farming business.

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By Jonathan York

21st February 2024

Are your farm contractors really self-employed?

Farm businesses need to ensure they correctly determine the employment status of their contractors and be aware of National Minimum Wage changes. 

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By Dan Cozens

5th December 2023

When is the best time to think about succession planning?

Succession planning is a vital process for any agricultural business to ensure the business continues to be successful for the younger generation, whilst allowing the current owners the ability to step back. But when should you be starting to think about putting a plan in place?

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By Armstrong Watson

29th November 2023

The Autumn statement - Impact on farm businesses

While there was little of specific interest for agriculture in the recent Autumn Statement, there were some announcements in the Chancellor’s raft of new measures that may impact farm businesses. In other areas – notably Inheritance Tax - (IHT) announcements that were speculated did not materialise.

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By David Threlkeld

16th November 2023

£1.6m IHT tax dispute highlights complexities of reliefs for farm businesses

It can be dangerous to assume that all the assets owned by a farming family will be exempt from Inheritance Tax (IHT). Here we look at a recent tax tribunal in which £1.6m of IHT was at stake and the family concerned were denied their claim for Business Property Relief. 

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