Harris and Clarke have a vacancy for an AAT student, to deal with accounts preparation and statutory compliance (PAYE, VAT etc). An interest in farming would certainly be an advantage. If interested, please apply in writing to 7 Billing Road.
As part of the review process of the Single Farm Payment the old chestnuts of ‘capping’ and ‘working farmers’ have not unsurprisingly resurfaced. Whilst ‘capping’ is a simple limit based on acreage, care should perhaps be exercised not to do anything that might impinge or affect the ‘working farmer’ definition – whatever that might be! Hence please take advice before perhaps entering into a share farm agreement, a grazing agreement or a FBT.
Since writing I have received a copy letter from the CLA president (11.8.2011) making representation against the imposition of capping. It now appears the debate is heading in that direction.
This Saturday, August 6th sees the Harris&Clarke trailer at Blakesley show in the south of the County. Do please call in for refreshment if attending the show. We look forward to seeing you there.
Harris and Clarke have just been notified of a new grant stream aiming at equestrian businesses in Leicestershire. 50% matched funding is available from INSPIRE and if further details are required please contact the office on 01604 62274.
Harris and Clarke are pleased to announce the arrival of the next generation. Richard and Laura have had a baby boy, William Franklin, delivered May 14th, 1.37am.
HMRC have announced that from April 2012 all VAT returns will have to be submitted ‘on line’, rather than the traditional paper copy.
Most taxpayers (those with turnover over £100,000 pa) are already submitting online. This is now to be extended to all VAT registertered businesses.
Whilst there are undoubted cost savings in ‘online’ reporting as far as HMRC are concerned, it does make the collection of taxes very susceptible to ‘cyber attack’. HMRC do not have a good record in implementing new systems. Such is progress….
Being the monarchists that we are, the office will be closed on April 29th and will re-open on May 3rd at 9.00am.
From the 2010 starting point of £1,000,000 the 2011 budget has increased the lifetime limit for Capital Gains Tax Entrepreneurs Relief to £10,000,000.
Given the increasing age of Farmers / Landowners this relief can materially reduce the impact of taxation, for instance, on a retirement sale or gift to the next generation. However Entrepreneurs Relief can be a tricky relief to apply (we need to demonstrate a complete disposal of a business) and there is little case law at present on its application. Nevertheless, this is indeed a worthwhile increase in its parameters that may make the decision to sell that much easier?
The offices will be closed on Friday 22nd April, Monday 25th and Tuesday 26th April.
We will reopen on Wednesday 27th April @ 9.00am.
2011budget_complete Chancellor George Osbourne has just delivered his 2011 Budget. For full details please follow the link above.
