I write this week with a personal victory! I have recently appealed our Council Tax band and won. We live in a farm bungalow with an Agricultural Occupancy Condition (AOC), also known as an ag tie. Our Council Tax bill has always seemed like it was a lot of money, so a couple of months ago I decided to look in to the banding of … Continue reading Your Council Tax Band could be wrong if you have an AOC (Ag tie)
Information below taken from BBC News online Taxation No changes to rates of income tax, national insurance or VAT Personal income tax allowance to be frozen at £12,570 from April 2022 to 2026 Higher rate income tax threshold to be frozen at £50,270 from 2022 to 2026 Corporation tax on company profits to rise from 19% to 25% in April 2023 Rate to be kept … Continue reading Budget 2021: Key points at-a-glance
The information below was taken directly from the Roythornes website, you can read the original article in full by clicking here. The recent case of Charnley and another v HMRC [2019] has seen the law firmly placed on the side of the farmer in this important appeal against HMRC. Ben Taylor, solicitor at Roythornes Solicitors, looks at why this is significant. Grazing licences in the context of Agricultural Property Relief … Continue reading Case rules in favour of agricultural property relief for elderly farmer
I wrote this article for the Berrys newsletter which came out today, you can read the newsletter in full by clicking here. Valuation is part of all the work that we do as professionals, but some of us specialise in what is known as Red Book, or formal valuation. The Red Book are the guidelines that we have to follow as RICS Registered Valuers. These … Continue reading Why should you get a professional valuation for Inheritance Tax?
From 6 April 2020, if you’re a UK resident and sell a residential property in the UK you’ll have 30 days to tell HMRC and pay any Capital Gains Tax owed. If you don’t tell HMRC about any Capital Gains Tax within 30 days of completion, you may be sent a penalty as well as having to pay interest on what you owe – so … Continue reading Get ready for changes to Capital Gains Tax payment for UK residential property sales
Intro Information below is taken from the gov website and you can read the full guidance here: https://www.gov.uk/guidance/how-to-check-your-rateable-value-is-correct#history There is a new business rates appeal process in England from 1 April 2017 known as check, challenge, appeal. The Valuation Office Agency (VOA) deals with checks and challenges, while the independent Valuation Tribunal for England handles appeals. If any of the factual details about your property … Continue reading Business Rates – How to Check and Challenge your Rateable Value
Since the Permitted Development (PD) rights came in for agricultural barns to residential dwellings (was Class MB now called Class Q) came in, there have been many successful applications. If you want to know more about these rights, then you can read my previous blogs here: https://blondeagadvisor.wordpress.com/?s=permitted+development This post is about the VAT treatment of conversion of non-residential buildings into dwellings under PD rights. On … Continue reading VAT treatment of PD barn conversions
My blog this week is about the Budget that was announced yesterday, not too much to report as it is a pre-election budget, but some summary points that I think will be of interest to my readers (there are obviously a lot more points than this!) are as follows… Income Tax Personal allowance has risen from £10,000 to £10,600 for the 2015/2016 year and this … Continue reading The Budget March 2015
When looking at any project or your business generally it is important to think about tax planning. I get a lot of questions about tax, mainly Inheritance Tax and Capital Gains Tax, I think I’ll write another blog about that! I think there is a lot of confusion over tax and tax planning and I suppose it isn’t helped by thresholds and changes made to … Continue reading Let’s talk about tax… Inheritance Tax…
This blog has been expanded from the Berrys LAMMA flyer (written by Will Tongue) – which is jam packed with useful machinery budgeting and finance info- which we are giving out at the show, come and see us to pick one up and to enter our competition to win a John Deer Gator- stand 7135 in Hall 7! To read more about that, click here. … Continue reading LAMMA SPECIAL: Buying Machinery: The real value of Capital Allowances?
Blonde Ag Advisor 