Tax News

The NFU has responded to both tranches of the Business Rates Review call for evidence which was published in July 2020. The review was wide reaching and addressed all areas of the current system. Log in to read our submissions in full.

The NFU has arranged a meeting for farmers with the Office of Tax Simplification to discuss their Capital Gains Tax Review. Express your interest in joining this online meeting.

COVID-19: NFU President Minette Batters is hopeful that members will benefit from the initiatives announced in the Chancellor's plan, and that further support for the self-employed will succeed in supporting cash flow during this difficult time.

Read the NFU's submission to the government's consultation on plastic packaging tax.

The second phase of grants for self-employed individuals adversely affected by COVID-19 is now open for applications. See who can claim and how much you may be entitled to.

The NFU is encouraging members to respond to the Office of Tax Simplification survey to help shape the review of the principles of Capital Gains Tax. Find out how you can share your views with government.

NFU President Minette Batters says the government must deliver on its manifesto commitment to boost rural digital infrastructure so that rural businesses can first cope and then take advantage of digital reporting.

Hear from NFU President Minette Batters after Chancellor Rishi Sunak announced government plans to help the UK recover from the economic harm done by coronavirus.

Each month the NFU's policy, food and farming and business services teams provide a snapshot of all the activity across the NFU. Find out how we're helping members right now.

The NFU is seeking clarity from government on grants and business rates holidays in relation to a range of members' diversifications. This article sets out ways you can provide us with evidence to assist us in this work.

The NFU's economics and tax experts provide an easy to access breakdown of the Budget announcement, identifying the key relevant areas affecting farming and the wider economy. NFU members - log in to read.

NFU President Minette Batters has responded to the Budget, emphasising that the tax relief retained on red diesel for farmers is incredibly important to keep businesses producing the nation's high quality and affordable food.

The NFU would like to hear members' views on a call for evidence from HM Revenue and Customs on VAT partial exemption rules. Farmers may have exempt lettings income and any proposed changes could be important to them

The NFU is aware that some members have been targeted by phishing emails and bogus calls from individuals posing as HMRC. Find out what to do if you've been affected.

With the deadline for the first statutory monthly Making Tax Digital return fast approaching, the NFU is keen to ensure that if any systematic issues arise they are addressed and resolved by HMRC as quickly and effectively as possible.

The NFU has continued to engage with HMRC on Making Tax Digital for VAT on various issues, here's an update.

The NFU has put together a helpful Frequently Asked Questions Guide on Making Tax Digital (MTD) and a link to how its helping members comply

HMRC opened up the Making Tax Digital (MTD) VAT pilot to partnerships just before Christmas. This week there has been a further announcement that the pilot is now open to all businesses that will be mandated to use the MTD service from April.

The 2018 Autumn Budget announced a temporary increase in the Annual Investment Allowance (AIA) from £200,000 to £1 million. It is however important to understand the way in which the increase will operate and traps for the unwary.

Making Tax Digital for VAT is due to be mandated with effect from April 2019 for businesses with a VAT turnover exceeding £85,000. Read how the NFU and NFU Cymru are working with NFU Scotland and the Ulster Farmers Union on the mandatory approach.

The NFU's economics experts have prepared a detailed briefing document identifying the key areas affecting farmers in Chancellor Philip Hammond's pre-Brexit Budget.

NFU President Minette Batters responded to yesterday's (29 October) Budget statement asking for policies that support sustainable farm businesses.

With less than a week until the Budget, the NFU is calling for measures that ensure British farm businesses are in the best position to be productive, profitable and progressive as they face the challenges of Brexit.

Plans which require farm businesses to keep digital records and report for VAT from their software will come into force in April 2019. Here's the latest.

The Office of Tax Simplification (OTS) has published a report on Simplifying tax relief for tangible fixed assets. This project has been of considerable interest to the NFU, particularly given the capital intensive nature of farm businesses.

The Government Gateway service is undergoing some changes. NFU members can take part in this short survey to help improve the service.

NFU win: Owners of plant nurseries will continue to benefit from a business rates exemption thanks to government legislation.

Intense campaigning by the NFU has led to a Government decision that ensures nursery growers are treated equally to other agricultural businesses regarding business rates, in a success for the industry.

Business rates multipliers in England will change on 1 April, affecting how much businesses pay in rates. Find out what this means.

A new small business rates relief scheme will be introduced on 1 April. The scheme will provide 100% relief to properties with a rateable value of £6,000 or less with tapered relief available for properties with rateable values from £6,001-£12,000.

An initial briefing from the NFU's economics and tax experts on the key announcements which may impact on members' businesses.

The Government's plans for Making Tax Digital have changed focus from Income Tax to VAT. The NFU have responded to an overview published by HMRC.

NFU President calls on all departments across government to prioritise the need for the nation's ability to produce food and care for the countryside.

TODAY'S BUDGET: NFU highlights the importance of British farming and the fiscal measures required to ensure it has a productive, resilient and sustainable future.

Substantial changes to the proposed Making Tax Digital regime have been announced, following a concerted lobbying effort by the NFU.

A number of amendments have been proposed ahead of today's Finance Bill debate.

In the spring budget the Government announced a call for evidence on the use of rebated gas oil which is more commonly known as red diesel.

The UK's four farming unions are calling on government to delay the new Making Tax Digital scheme for farm businesses.

Here's our initial response to the Spring Budget, and a briefing for members looking at the key announcements.

The NFU has set out its key asks from Chancellor Philip Hammond's Budget - and outlined some measures which we expect to feature.

The Chancellor of the Exchequer will deliver his first Budget on 8 March 2017. Here's what we will be looking for.

Our latest briefing looks at how to claim Small Business Rate relief - including information on eligibility and backdated claims.

An NFU expert gave evidence to a House of Lords committee this week to express concerns with HMRC's 'making tax digital' proposals

New 'check, challenge, appeal' system places a much higher burden on the ratepayer. Members can read our guidance here.

If you can't pay all of your tax by the 31 January 2017 due date there are a number of things to consider, including contacting HMRC's time to pay team before the payment becomes due.

The NFU has laid out the need for investment on farms and urged banks to collaboratively demonstrate support to UK farming in a meeting today.

The NFU responds to the government's 'radical, far reaching and ambitious' plans for Making Tax Digital.

An NFU member guide to the announcements that matter most to farming.

The NFU has responded to today's Autumn Statement by the Chancellor of the Exchequer, Philip Hammond.

The Chancellor of the Exchequer will deliver his Autumn Statement tomorrow. Here's our submission.

We've become aware of a change in approach to rating businesses which grow crops in buildings or glasshouses, but do not bring these crops on to maturity.

With a new list for business rates coming into effect from 1 April 2017, time is running out for micro-generation renewable energy projects installed after 2010 to qualify for an exemption.

New rules could make it mandatory for the self-employed to keep records digitally, and to report more frequently, from 2018. We want to hear from you.

The Valuations Office Agency is due to publish its 2017 draft ratings list on 30 September, which could affect NFU members with non-agricultural diversifications.

HMRC is holding a series of Making Tax Digital consultation ?events around the UK during September and October. Find out what they are proposing, how it might affect you and your business, and give HMRC your views.

Our expert advisers look at what today's vote means for future farm policy.

The government has published a discussion paper examining the possibility of more frequent revaluations for business rate payers.

A fairer tax system for farmers comes into effect on 6 April 2016. Read all about the new rules here...

Increased VAT on solar panels for household electricity and heat, as well as any domestic wind and water turbines, was proposed to be introduced on 1st August.

With forthcoming changes to the tax treatment of employee expenses the NFU has contacted HMRC to seek clarification over dog allowances paid to employees who keep a dog for work purposes.

Read guidance on the 2016 Budget announcements concerning Small Business Rate Relief.

What did yesterday's Budget mean for food and farming? Our members can read an initial analysis here.

NFU responds on changes to corporation tax, flood defence, small business rate relief, stamp duty and the proposed levy on sugary drinks.

We have outlined the extremely difficult economic environment currently being experienced by farmers and set out ways in which this could be alleviated through the forthcoming 25 year Food and Farming Plan and a coherent fiscal strategy.

HMRC are currently running a series of live webinars aimed at people still completing their own self assessment tax return.These will run throughout January and it will be possible to ask questions if you are having difficulty.

A DECC Call for Evidence seeks views on the content and usefulness of the technology list which supports Enhanced Capital Allowances.

The government has issued a call for evidence on the current tax treatment of employer provided living accommodation. The NFU would like to hear from members to help inform our response.

We've looked in more depth at yesterday's Autumn Statement and Spending Review announcements.

Our thoughts on today's Autumn Statement.

What measures will farmers be listening out for?

There is some confusion about the treatment of seasonal workers accommodation for local taxation purposes. Some units of accommodation are assessed to Council Tax and some to Business Rates

The NFU has argued for further fiscal measures to help farmers manage the impact of volatility, including enhancing farmers averaging. We have now submitted our formal response to HMRC's consultation on extending the averaging period to 5 years.

'When it comes to investment the Chancellor has once again listened to British farmers and the NFU,' says Anand Dossa.

George Osborne's Summer Budget included a commitment to set the Annual Investment Allowance at £200,000 permanently - echoing NFU lobbying.

We wrote to the Chancellor ahead of tomorrow's Summer Budget (Wednesday 8 July).

The government has launched a wide-ranging review of the business rates system. We want your thoughts

Last Wednesday, the Chancellor of the Exchequer delivered his last Budget before May's General Election. The Budget contained a number of announcements which will have a specific impact on farming.

The NFU's head of taxation, Michael Parker, discusses George Osborne's budget and the impact it could have on farmers.

The NFU has written to the Chancellor of the Exchequer ahead of this year's Budget on Wednesday 18 March 2015. Find out what we are calling for on managing volatility, encouraging investment, and securing knowledge and technology for the future.

The Wine & Spirit Trade Association (WSTA) are currently running a campaign calling for a 2% cut in duty on all alcohol products in the 2015 Budget. They suggest this could bring real benefits to the economy and to stakeholders such as farmers.

Briefing note for NFU members affected by the dairy price cuts on the steps they can take to try to reduce their January tax payment and arrange instalment payments.

Contributions by a business towards a flood defence project, which has been allocated some Government funding, will be deductible from the profits of the business for corporation tax or income tax purposes from 1 January 2015.

The NFU has written to the Chancellor of the Exchequer ahead of the Autumn Statement. In our submission we have outlined areas to promote investment and prioritise and deliver returns on government spending in relation to the agricultural industry.

H M Treasury has published a consultation on whether entitlement to UK Personal Allowances should be restricted for migrant workers and other non-UK residents.

HMRC have announced that the new penalty for the late submission of an RTI PAYE return will now be phased in.

Following the Budget announcement that ATED will be extended to residential properties worth more than £500k, HMRC have issued a consultation on reducing the reporting burden for those owning property attracting reliefs,such as farmhouses.

The National Farmers Union has been seeking clarification from HM Revenue and Customs on the use of the DIY self-build scheme for conversions of farm buildings to residential use within new permitted development rights.

HMRC has clarified how the micro employer relaxation for RTI reporting interacts with the RTI reporting of harvest workers.

We've been talking to the DWP about arrangements for National Insurance number interviews, following the abolition of the Seasonal Agricultural Workers Scheme.

The new Employment Allowance starts from 6 April 2014 and provides employers with up to £2,000 off their employer's national insurance liability. H M Treasury have calculated that up to 32,000 farming businesses could benefit.

Last weeks budget caused plenty of discussion, with some welcome news for agriculture and others areas lacking. Read the NFU member briefing to find out what it really means for agriculture.

A new 'real time tax' reporting relaxation aimed at micro employers will help many farm businesses struggling to report on, or before, paying employees.

The Chancellor's announcement to double the rate of the Annual Investment Allowance is welcome news for agriculture but it would have been better if George Osborne had made it a permanent fixture.

What areas would we like to see addressed in the Budget this week?

Having listened to customer feedback, HMRC has decided to stagger the start of the new in-year late filing and payment penalties to give employers more time to adapt to reporting in real time.

HMRC have launched a new tax helpline to support people affected by flooding. The helpline will enable anyone affected to get fast, practical help and advice on a wide range of tax problems they may be facing.

HMRC are running a self assessment tax return webinar for NFU members on 13 January 2014. The aim is to help you complete your tax return, if you have not already done so.

Help shape the design of a new online 'one stop shop' tax service for small and medium businesses.

HMRC have announced that existing small employers with fewer than nine employees, who need more time to adapt, will be able to report PAYE information on or before the last payday in the tax month until April 2016.

What would we like to see when the Chancellor delivers his Autumn Statement on December 5?