Sep 14 2017 Farm finance health check Categories: Agriculture It is now over a year since the Bank of England cut the bank lending base rate to just 0.25% in the wake of the EU referendum result. We are now seeing reduced finance costs on many of the accounts we are currently preparing as a consequence, helping to boost profitability for those businesses heavily more
Aug 31 2017 Tax free gains on sale of land? Categories: Agriculture We often have clients who sell off small pockets of land, with the land normally being acquired by someone wishing to expand their garden or improve access to their property for example. We often have clients who sell off small pockets of land, with the land normally being acquired by someone wishing to expand their more
May 7 2017 Losses are not forever Categories: Agriculture A recent tax case heard before the Upper Tribunal has confirmed that sideways loss relief cannot be claimed by farmers in the sixth year of loss making, even for commercial trades carried out full time. This ruling reinforces legislation often referred to as the “hobby farming” rules. Sideways loss relief is useful to taxpayers who more
Feb 7 2017 Farming Scotland Conference provides inspirational business insight Categories: Agriculture Business improvement, growth and diversification were very much the focus of this year’s Farming Scotland Conference, with just a sprinkling of Brexit politics thrown in. The conference, which is now in its 14th year, once again took place in Carnoustie and was officially opened by the Provost of Angus, Cllr Alex King. As is befitting more
May 31 2016 EQ take part in the RSABI Great Glen Challenge Categories: Agriculture The RSABI Great Glen Challenge is in its 5th year, and 2016 will be the first year in which EQ has entered a team. This year’s event is taking place on Friday 26 August 2016 with a route spanning from Fort Augustus to Fort William while raising money for RSABI. Each member of the team more
May 31 2016 Farms and the Additional Dwellings Supplement Categories: Agriculture Land and Buildings Transaction Tax (LBTT) replaced Stamp Duty Land Tax (SDLT) in Scotland from April 2015 and careful consideration needs to be given when purchasing a farm which includes residential properties due to the recent introduction of the Additional Dwellings Supplement (ADS) on second properties. When calculating LBTT on the purchase of a farm more