This scheme has been in existence since 1st January 1993, and is an alternative to VAT registration for farmers and certain other people involved in agricultural production activities or similar, as defined by HMRC. The trader should charge a “Flat Rate Addition”...
I always think that acting for the modern farming family is akin to being the accountant of a commercial industrial trading group in terms of the complexity and challenges. With a farming business, one is likely to encounter: At least one Limited Company but quite...
I sometimes think that we can miss a trick when presenting the balance sheets of farming companies and indeed farming partnerships as part of an application for finance. Very often the business will farmland under the tenancy, ie under an old-style Agricultural...