- The farmers flat rate VAT scheme is being reduced from 5.5% to 5.0% with effect from January 2023.
- The Young Trained Farmer (Stamp Duty) relief, Farm Consolidating (Stamp Duty) relief and Farm Restructuring (Capital Gains Tax) relief are to be extended to 31 December 2025.
- Stock relief application to young, trained farmers and registered farm partnerships has been extended to 31 December 2024.
- A time-limited scheme of accelerated capital allowance for farmers for the construction of modern slurry storage facilities is being introduced so that 50% of expenditure is claimed over 2 years.
Would you like to download our mobile app from the App Store?Download