4th July ……. Independence Day “across the pond”! For us back home, it ended up being a changing of the guard in Westminster, Blue to Red, with a hint of Yellow. From a farming perspective, blue sky to red, shepherds delight or shepherds warning – only time will tell. Will the green turn brown when…
Author Archives: William Robinson
A recent HMRC tribunal has seen the Court of Appeal side with HMRC’s Upper Tribunal in relation to an organic farming business that had continued to incur annual losses. For around 17 years, the farm business didn’t show a profit, despite increases in land farmed and changes to the running of the business. The case…
10
Feb
Feb
Defra have at last put some meat on the bones of the guidance for applying to claim the English Lump Sum Exit Scheme – unfortunately the guidance is still lean in some areas. Full current guidance is at https://www.gov.uk/government/publications/lump-sum-payments-for-farmers-who-leave-or-retire-from-farming-and-delinked-payments/lump-sum-exit-scheme-and-delinked-payments-how-the-payments-will-work If you claim the Lump Sum, you would not be able to claim BPS going forward…
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Oct
Oct
We often get asked when reviewing accounts what certain things mean, so we thought it might be worth running through a few common terms with a brief explanation, although there are some less common things for the less popular letters, so here we go – A – Accruals – charges for work done or goods…
Your farming business is incredibly important to you – not just because of your connection to the land and your passion for your community, but because it’s how you support yourself and your family. There are so many elements of business you’re considering, and a very important one is your finances. By being aware of…
One thing that VAT registered businesses sometimes over look is the payment of fuel scale charges. There isn’t a one size fits all option on these, and so each business and vehicle within a business will need considered. You can reclaim all the VAT on fuel if your vehicle is only used for business use…
As accountants, we often get asked if a vehicle is a commercial vehicle (van) or a car for VAT purposes. So when is a van a van? Generally speaking, for a vehicle to be treated as a van for VAT purposes, it needs to be constructed with the primary purpose of the conveyance of goods/burden…
If you are involved with imports, you may have heard the term Postponed VAT Accounting. If you want to know more about it, what it is and when it may be of benefit to your business, please read on. What is Postponed VAT Accounting? If your business is VAT registered in the UK and you…
Understanding VAT treatment never seems to get easier, and that’s why Saint & Co are here to help. We can translate the HMRC guidance into specific advice to your own circumstances – often the HMRC guidance is exactly that, just a guide where you are then left to make your own decision on whether to…
VAT has always been a complicated tax, and from 1 January 2021, for your business, you may think it has got even more complicated. So when should you add VAT to your product sales? If you are selling goods internationally, if the goods are physically crossing an international border on a permanent basis, then the…
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