The National Farmer’s Union Scotland has called for tax breaks to encourage new agricultural businesses to rent land from landowners. In the Budget submission to the Chancellor, George Osborne, the NFU Scotland provided proposals for a scheme which would give an allowance to landowners that would be deductible from their rental income, minimising tax bills.

Other matters have also been raised, including reducing fuel duty, annual investment allowances, online filing now being mandatory and allowances for agricultural buildings. John Picken, the vice-president of NFUS, stated that the government would have to create balance between public sector cuts, industry taxation and encouraging growth. He said:

“Agriculture and food are two of the economy’s most promising areas of industry, with production on a strong footing and exports growing steadily. Ironically, however, while opportunities abound, it is difficult for new entrants to get started.”

He further stated that new businesses found it difficult to gain access to tenancies and land, especially when in competition against businesses which are already established. Tax breaks to encourage landowners to lease to new businesses would be effective while costing little, as the cases involved would be minimal.

Transport and the cost of fuel is an issue for all the UK, with Scottish farmers relying on transport to move goods to various areas, many of them remote.

Tax breaks can make a huge difference to any business, with a small business accountant having up to date information of relevant tax schemes and allowances, minimising your tax bill.

The Accountancy Partnership

We are a national firm of accountants that specialise in small and medium sized businesses. We have been trading since 2006 and have more than 1,000 clients across many different industries and areas of the UK.

Our staff has a wealth of experience and qualifications from the major accountancy and tax associations such as ACCA, AAT, ICPA, IFA, FTA.

Our clients receive many benefits including:

• Unlimited help and advice throughout the year — We offer our clients unlimited ongoing support for their business. We often find that new clients have lots of questions about running a business and about how the tax system works. We have heard every possible question many times before and therefore can offer new clients the very best advice.
• Free representation in the event of a HMRC investigation — If one of our clients is selected for a HMRC investigation then we will offer representation at no additional cost. We fight our client’s corner and ensure that our clients do not pay a penny more than necessary on the conclusion of the investigation.
• Dedicated Accountant — Our clients have their own dedicated accountant in which they can contact anytime. We feel this is important because it means our accountants can get to know their clients and build good relationships. All our accountants work from our main office and we never outsource work.
• Recommendations — With every piece of work we carry out for clients we look for recommendations that can be made. These recommendations can be anything from structuring the business in the most tax efficient way to recommending an insurance quote to reduce costs for clients.
• Free business guides — When a new client joins us we send them a free business guide. These guides outline in simple terms how the tax system works along with key dates and deadlines. Most clients find the guides to be extremely useful.
• Financial advice — We have a very reputable financial advisor who helps our clients to structure their finances in a way that best suits their needs. We always look out for circumstances where we think clients can benefit from financial advice and add it to their recommendations.

Please click here for a quotation for your business. Please also feel free to contact us if you have any questions or would like further information; 0800 0430 007, info@theaccountancy.co.uk.

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Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.