The Royal Institute of Chartered Surveyors (RICS) has recently announced that the price of Welsh farmland has increased by around 13% in the last 12 months. Although Welsh land is not as expensive as that of our English neighbours, the cost of an acre of Welsh farmland averaged out at £7,500 for 2014. A spokesman … Continue reading Thinking of Selling Your Welsh Land?
If you have made a Capital Gain selling assets it is important to check whether you can save tax by using the Capital Losses from purchased Milk Quota. All Milk Quota will cease to exist on 31 March 2015. This means that the cost of purchasing Milk Quota will be a Capital Loss which is … Continue reading Capital Losses On Milk Quota
When carrying out extensive repairs to maintain their premises a farmer may assume that, without question, these repairs will be offset against the business income received thus reducing the tax bill for the applicable accounting period. HM Revenue and Customs however, may adopt an entirely different view. Repairs are tax deductible and can be claimed … Continue reading Are Your Farm Repairs Tax Deductible?
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