The Budget (18 March 2015) – Farmers
The 2015 budget brought a welcome change for farmers to help protect against income volatility. British Farmers will now be allowed to average their income over five years, rather than two, for income tax purposes.
The new measure follows extensive lobbying by the NFU, and comes into effect from April 2016.
To such end we are already making preparations to meet with all our clients from the Agricultural sector to discuss the changes and what it means for your business going forward.