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The Land Use Framework
Land is the nation’s greatest natural asset, being the source of food, the foundation stone of nature and the support system of the environment on which we rely. It’s the place where we live, work and rest. Due to the climate and biodiversity crises, global shocks and the needs of consumers and businesses, there is…
Should you have Shareholder Protection Insurance?
Shareholder protection insurance is a type of life insurance policy that provides funds to the remaining shareholders to buy out the shares of a deceased or critically ill shareholder. Without such protection, the shares might pass to the deceased’s family or estate, which could create operational complications, disputes, or even force a sale of the…
Government U-Turn on P&L Disclosure
From 1 April 2027, major changes to UK company filing requirements were originally announced as part of the Economic Crime and Corporate Transparency Act (ECCTA). These reforms aimed to improve transparency and reduce economic crime. However, on 3 July 2024, the government announced a U-turn on the most controversial measure: requiring small and micro-entity…
Airbnb and the End of Furnished Holiday Lets
With the holiday season in full swing and many taking a well earned break, attention turns to holidays, whether abroad or in the UK. However, the rules relating to the renting of a ‘holiday home’ have all changed as from 6 April 2025. Now, Airbnb style lettings are taxed under standard residential property rules, bringing…
Making Tax Digital for Income Tax: Agriculture
Making Tax Digital for Income Tax requires self-employed businesses and landlords with qualifying income to maintain digital records and submit tax updates to HMRC using Making Tax Digital – compatible software. Quarterly updates will need to be submitted to HMRC providing a snapshot of income and expenses. These are cumulative so that each submission effectively…
Major Lease Accounting Change: Audit Required?
Could Your Business Be Pushed Into Audit? The Financial Reporting Council (FRC) has issued final amendments to FRS 102, introducing a major overhaul to how leases are accounted for under UK GAAP. While there are a number of amendments to the standard, the most significant for many businesses is the new requirement to bring most…
Funding Opportunities for Farmers
Farmers have received subsidies for a considerable amount of time, with roots tracing back to the post-World War II era, but with the Basic Payment Scheme (BPS) ceasing in 2027 and the Sustainable Farming Incentive (SFI) being paused for new applications, at the time of writing, it is crucial that all elements of grants and…
Issue 8: Property Matters Newsletter
What To Expect In Issue 8 of Our Property Matters Newsletter HMRC Nudge Letters In this edition we are looking to explore the approach that HMRC are now taking in relation to closing the reportedly £40 billion tax gap, not only through the use of employing more compliance workers, making greater use of AI, but…
Gift Allowances for Inheritance Tax Planning: Agriculture
As we all come to terms with the announcements made in the Autumn Budget, here are some simple Inheritance Tax planning tips to consider. Firstly, anyone can benefit from gift allowances. Those farmers fortunate enough to have cash can give some away to reduce their estate as follows: £3,000 Annual Exemption This can be…
Farming Group Newsletter: Issue 26
There’s Always Something! Welcome to Issue 26 of our Farming Group Newsletter for Spring/Summer 2025, our first since the shock Inheritance Tax (IHT) announcements were made in the Autumn Budget 2024. Ironically for many, the autumn, winter and spring conditions so far, despite a few pockets of wet and dry spells, have probably been the…