Ejected Farmers Could Be Entitled To Compensation

Farmers who HMRC have ejected from the Agricultural Flat-Rate Scheme (AFRS) may be entitled to a repayment or compensation. An opinion from the advocate general to the European Court of Justice has led to the belief that many who feel they have been unfairly removed from the VAT simplification scheme may be able to make … Continue reading Ejected Farmers Could Be Entitled To Compensation

HMRC Not So Merry With Wedding Venues

Farmers hiring out land and buildings for wedding ceremonies may have to pay back thousands in back tax following a failed VAT appeal earlier this year. Blue Chip Hotels failed in their appeal to overturn more than £50,000 in VAT. The company argued that, as it didn’t offer room hire for civil wedding ceremonies as … Continue reading HMRC Not So Merry With Wedding Venues

VAT Payable On Full Cost Of Temps

Farms and rural businesses who hire temporary staff through an agency must continue to pay VAT on the wages of those workers, and not just on any commission that is due. A tribunal has ruled that VAT at the standard rate is due on all amounts charged to a client for the supply of temporary … Continue reading VAT Payable On Full Cost Of Temps

Accounting For VAT On Contras

Transactions paid by contra can be confusing, but it is important that you treat them correctly in your records, particularly as you need to ensure you treat the VAT element correctly. Some common errors are listed below: Whenever you sell at auction – be it livestock, machinery or produce – commission and levies will be … Continue reading Accounting For VAT On Contras

Happy Holidays From Green & Co

As we take our Christmas break at the end of another productive year, we would like to take this opportunity to thank you, our loyal blog readers! Whether you are already a client, a prospective client, or just like to read our informative articles each week, it is you who keeps this blog going. Working … Continue reading Happy Holidays From Green & Co

Farmers Targeted In Latest VAT Scam

Welsh farmers are being warned to be extra vigilant and not to respond to communications supposedly coming from “UK Data Control” asking for details of missing VAT numbers and other business details. The letters look official enough, but by signing and returning the form, the signatory agrees to pay an amount of £790 for the … Continue reading Farmers Targeted In Latest VAT Scam

Road Fuel Scale Charges From 1st May

The VAT Road Fuel Scale Charges have been amended with effect from 1st May 2015. The new rates can be found here. If a business is VAT registered and purchases road fuel for business use, but there is also private use of a vehicle, then an adjustment needs to be made to ensure that VAT … Continue reading Road Fuel Scale Charges From 1st May

The Dairy Farming Crisis

Milk producers in Britain have been dealt a number of blows over the last year. Like oil, world milk prices have come down in response to an imbalance of supply and demand attributed largely to economic slowdown in China and Russia’s ban on EU dairy products in response to sanctions against them. These two countries … Continue reading The Dairy Farming Crisis

Catch Up With Returns Before HMRC Catches Up With You!

The question is, should Farmers submit VAT Returns on time? As most farmers have repayment VAT returns, it is usual practice, especially when busy with planting, harvesting, lambing etc, to wait until they have a few quarters-worth of VAT to submit. However, be aware! Prior to the new penalty arrangements in 2012, late repayment returns did … Continue reading Catch Up With Returns Before HMRC Catches Up With You!

Barn Conversions And Tax Planning

  There has been much publicity about the current Housing Crisis, and the Government has recognised the need to encourage new housing development. In England ‘permitted development rights’ have been extended to allow more development of farm buildings for residential use. This is a positive move for house buyers, the rural economy and land owners. … Continue reading Barn Conversions And Tax Planning