VAT and Furnished Holiday Lets

With the seemingly punitive changes to the taxation of residential property income introduced in recent years, you may have questioned whether letting out your farm or estate cottages on a residential basis remains worthwhile. Instead you may have considered letting these properties on a short term basis as a furnished holiday let (FHL). From an […]

How can I reduce monthly repayments without reducing the bank debt?

Often farming businesses face cash flow issues, typically for two main reasons – it is not generating enough cash from its trading operations or it has too much bank debt. However, we often see that when you breakdown the cash flow that the business is generating a positive cash flow from its trade (after paying […]

VAT – Partial Exemption

More and more farming operations are experiencing the impact of partial exemption on their VAT accounting as they diversify away from farming activities and move into areas where they let cottages, land and buildings. Although in most cases these rentals will be VAT exempt i.e. no VAT is chargeable on the income received, the activities […]

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