Jeremy Hunt will outline the Government’s spending plans and changes to tax policy in the Spring Budget on March 15th. It comes against a backdrop of the cost of living crisis and at a time when the Government is continuing to try to balance its books following the pandemic.
If you are considering selling part or all of your farming business you may be able to pay less Capital Gains Tax (CGT) if you qualify for Business Asset Disposal Relief (BADR).
The changes may result in significant tax balances through the transitional period, so it pays to plan ahead and be prepared for the change. To ‘fail to plan’ is to ‘plan to fail’!
Companies could soon see changes to the way they file their accounts as part of incoming legislation to help tackle money laundering and other illicit activity.
A new scheme to help businesses with their energy bills is set to be introduced.
On 9 January 2023, the Government confirmed the Energy Bills Discount Scheme (EBDS) will come into force from 1 April 2023 and will run through to 31 March 2024.