The Government will legislate in the 2015 Finance Bill to ensure that business contributions to Flood and Coastal Erosion Risk Management (FCERM) projects are tax-deductible from 1 January 2015. The Government’s aim is to encourage private sector investment in flood resilient projects via “partnership funding schemes”. The deduction will be available to both incorporated and … Continue reading Tax Relief For Expenditure On Flood Defences
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?