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Filtered By Category: Agriculture

Jun 30 2020

Change to Entrepreneurs’ Relief – things just got BADR

Categories: AgricultureCOVID-19

With the country’s attention focused on COVID-19, the change to Entrepreneurs’ Relief (ER) announced in the budget on 11 March has gone largely unnoticed. ER provided a reduced rate of Capital Gains Tax (CGT) on the sale of a business or interest in a business, with the normal rate of CGT being reduced from 20% more

May 29 2020

Main Sponsors of the Scottish Agricultural Show Online

Categories: AgricultureEQ News

As leading providers of accountancy, tax and business advisory services to agriculture businesses across Scotland, we are delighted to be confirmed as main sponsors of the Scottish Agricultural Show Online. The bespoke website for the show will launch on Friday 29th May, with the show itself taking place on 3rd and 4th July 2020. The show will more

Apr 16 2020

Summary of support measures for farming businesses

Categories: AgricultureCOVID-19

Farming businesses will not be immune from the current economic impacts of the COVID-19 pandemic. We’ve summarised below the main support measures which have been announced so far. Self Employed Income Support Scheme (SEISS) Most farmers still trade as a partnership or sole trade and consequently are self-employed. The SEISS is intended to support self-employed more

Apr 10 2020

Scottish Suckler Beef Support Scheme payments underway

Categories: Agriculture

On 4 April, the Scottish Government announced that it will start making payments to those who submitted a Scottish Suckler Beef Support Scheme (SSBSS) claim before 31 December 2019. The SSBSS is designed to maintain beef suckler herds at a level that sustains the commercial beef industry in Scotland and is paid to calves that are at more

Apr 9 2020

Single Application Form window remains unchanged

Categories: Agriculture

Scottish Government Rural Payments and Services have recently released up to date guidance confirming that the 15 May deadline for submission of this year’s Single Application Form remains unchanged despite restrictions imposed by COVID-19. They are encouraging applicants to apply online at the earliest opportunity to avoid last minute problems. Applicants are also reminded that more

Mar 20 2020

The impact of COVID-19 on the agriculture sector

Categories: AgricultureCOVID-19

Our EQ Agriculture specialists are in constant communication with our clients and have been reviewing how the ever-changing environment is affecting agricultural businesses. We will do all we can to support our agriculture clients through this difficult period. The most immediate impact on the industry appears to be the lack of availability of seasonal labour more

Mar 16 2020

Opting to tax on development land sales

Categories: AgricultureTaxation

Tax planning surrounding the sale of land for development tends to be focused on minimising Capital Gains Tax, and rightly so as the amounts of tax at stake can be very significant. However proper consideration should also be given to VAT. It is probably best to start by explaining the default position. Normally sales of more