According to farming minister George Eustice DEFRA have requested that HMRC take a “sympathetic stance” with dairy farmers and consider the individual circumstances of each business in the wake of the dairy crisis. It has been requested that tax payments be deferred for the hardest hit or payment plans be considered so that liabilities can be paid in instalments.
This and other action points were outlined at a recent meeting of dairy industry representatives hosted by DEFRA, where it was also decided that a new industry-led group would be set up to investigate the dairy supply chain and the development potential of a futures market.
DEFRA has asked the Rural Payments Agency to prioritise dairy farmers when administering farm payments and UK banks were also in attendance at the meeting, outlining the ways they can offer support to dairy farmers.
Hopefully we will see these plans executed in the near future.
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Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.
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