Natural Resources Wales (NRW) is reminding farmers to register for or renew their waste exemptions. All farmers who manage waste need to be registered with NRW. The majority, who last registered in late 2016, will now need to renew their exemptions, as registration is valid only for three years. Those farmers carrying out waste operations … Continue reading Farmers Reminded to Register for Waste Exemptions
The Welsh Government announced on Monday that its new system of support payments for Welsh farmers will be postponed until 2022. The Basic Payment Scheme (BPS) was due to be transitioned to a new Land Management Program, but has been consistently delayed as a direct result, say the Government, of the UK’s delayed exit from … Continue reading More Delays For Welsh Farmers Support Scheme
A Scottish farm business has won its battle against HMRC, enabling it to reclaim VAT payments worth more than £1m. The UK Supreme Court ruled in favour of Frank A Smart & Son Ltd after HMRC initially refused to let the company reclaim VAT incurred on the purchase of over 34,000 units of Single Farm … Continue reading HMRC Lose VAT Battle as Farmers Dodge a Bullet
The Welsh Government has released their latest proposals for a post-Brexit farm support system. The document, ‘Sustainable Farming and Our Land’, proposes paying farmers through a single scheme, instead of their previously suggested two-tiers. Payments would be based on achieving results such as improving air and water quality, which would come from producing food in … Continue reading Welsh Government Unveils New Vision
Interest free government loans will now be available to all Welsh Farmers if their Basic Payment Scheme (BPS) payments are late. Farmers who do not receive their BPS funds on 2 December – day 1 of the payments window – can receive loans under the BPS 2019 Support Scheme, which will be worth up to … Continue reading Interest Free Loans to Cover Late BPS Payments
Farmers in Sweden supplying Arla are making the most of their cows’ manure by using it to power up milk lorries. Currently 81 farmers are involved in the biogas initiative, delivering their manure to biogas plants. The Swedish initiative is helping contribute to a fossil-free fuel future by turning the manure into biogas, which in … Continue reading Swedish Farmers at Forefront of Manure Powered Future
Many farming businesses which trade as Limited Companies are thought to be missing out on valuable Research & Development tax credits. Corporation Tax credits have been available for many years but are being overlooked in the field of agriculture, the main issues being that many do not even know they exist. Under the small and … Continue reading Can You Claim Research & Development Tax Credits?
As part of the Farmers’ Union of Wales (FUW) campaign ‘Your Dog, Your Responsibility’, free gate post warning signs will be handed out at the Royal Welsh Show next week. Dog attacks on livestock in the country are still a major concern for farmers across Wales, and the campaign aims to raise awareness of the … Continue reading Dog Attacks Still a Major Concern for Welsh Farmers Union
Powys based bioresearch company, Agroceutical Products is using Wales’ national flower in the fight against Alzheimer’s. Established in 2012, Agroceutical Products is owned by former sheep farmer Kevin Stephens and grow its daffodils in the Black Mountains of Powys. Daffodils contain galantamine – a compound known to slow the progression of Alzheimer’s symptoms; and being … Continue reading Welsh National Emblem at Forefront of Fight Against Alzheimer’s
If you are planning on restructuring your family business, it’s likely you’ve considered the tax and VAT positions. It’s important however not to neglect Land Transaction Tax (LTT), or Stamp Duty Land Tax (SDLT) if in England. Often overlooked, LTT can arise when an interest in land is transferred. If you are a sole trader … Continue reading Land Transaction Tax on Business Restructure
