North East farmers urged to protect tax status after changes to CAP

Will the CAP process affect you when it comes to your tax planning and should you be taking steps now to ensure your position is protected?

A rural farming scene
A rural farming scene

Will the CAP process affect you when it comes to your tax planning and should you be taking steps now to ensure your position is protected?

There are some legislative changes in the farming sector and tax issues that need to be considered and it is more important than ever to ensure that you are aware of these issues.

Rowlands Accountants, who have offices across the North East, have teamed up with Durham-based H&H Land and Property to update farmers with the latest policies on the CAP Reform and topical tax issues at a free seminar.

Andrew Jamieson, agricultural adviser for H&H Land and Property, will cover issues relating to the CAP Reform and the many changes happening in the agricultural industry. Emma Glover, partner for Rowlands Accountants, will address the tax issues and give some important timely and topical advice.

Andrew will focus on both the interim period and with the new scheme coming into place on January1, 2015. He will update on the potential contents of the new scheme from both a practical and financial level.

Emma will be presenting topical tax tips for farmers, also covering the non-pure farming areas of their businesses that can be expanded upon. One of the key areas she will cover is agricultural property relief.

She said: “Many farmers are not aware that they need to ensure that they maximise their potential agricultural property relief. Examples of such are holiday lets, long lets, wind farms and other diversification projects.”

H&H Land and Property, with offices in both Carlisle and Durham operate across the North of England. In addition to the above they offer other professional services including AMC, estate management, landlord & tenant, site acquisition and development, common land and conservation, renewables and woodland management.

This event is being held at Durham County Cricket Club, Chester-le-Street at 6pm on Thursday, December 5.

Light refreshments will be available at the seminar and it is advisable to register interest for catering purposes. For more information contact 0191 3708 530 or email carol.crampton@hhland.co.uk

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