Farms and Landed Estates

Kelly gives a run through of the announcements made recently on Stewardship and Environmental land management schemes (ELMS) developments.

Steve discusses the latest draft guidance for the Basic Payment Scheme (BPS) outgoers scheme for farmers considering retirement.

William reviews the changes that Making Tax Digital will make to the self-employed and landlords who currently complete an income tax self-assessment return.

The ‘Farming Investment Fund’ is due to be launched officially this autumn. Ashley discusses how the fund works and summarises the key points of interest to farmers and landowners.

Laurie Hill discusses The Future Farming Resilience Fund launched earlier in 2021 to support the transition within agriculture. 

Laura Howes discusses tax relief on farming and agricultural buildings and the recent case lost by HMRC.

Alison Smith discusses the most recent announcement about the transition towards Making Tax Digital (MTD) and the likely additional complications (and extra tax charges) on the horizon for many farming businesses.

The latest report from the Office of Tax Simplification (OTS) on Capital Gains Tax (CGT) looks at areas where the tax could be made simpler, fairer and easier to understand and where specific anomalies could be removed.

On 19 May 2021, the Government published a consultation document on the design of execution of the lump sum exit scheme, which would enable eligible retirees from the farming industry to take some of their remaining subsidy payments by way of a single lump sum in 2022. 

Partner and farms and landed estates specialist, Steve Rudd, highlights the latest details about the Sustainable Farming Incentive.