Diversified enterprises bring new challenges for landowners as they are often outside their experience.
The proprietor will often look for external guidance to answer their many questions. Our experience with such business ventures can help you with all the key decisions.
Typical areas of uncertainty include:
- Should the enterprise be within an existing business structure or separate?
- What is the VAT status of the activity?
- How should the project be funded?
- Will the new venture negatively impact on the owner’s inheritance tax position?
Services to rural businesses looking to diversify
Our extensive landed estate and rural business practice provides much more than just a service of annual accounts and tax compliance throughout the UK. We are familiar with the challenges you face and provide clients with objective input into their business. Services include:
- Preparation of business plans
- Benchmark setting
- Analysis of key profit margins
- Annual feedback and monitoring of financial performance against Key Performance Indicators
- Cash flow forecasting
We have substantial experience working in complex areas of tax with rural business owners to help them mitigate this financial burden. Our advisory work regularly covers all aspects of taxation from VAT to income or corporation tax, as well as the capital taxes such as capital gains tax and inheritance tax. Services include:
- VAT advice to obtain overall VAT efficiency, including work on building projects.
- Claiming tax relief for capital expenditure and business start ups
- PAYE health checks and advice on aspects of benefits in kind, such as living accommodation.
- HM Revenue & Customs tax enquiries, avoiding them and when necessary dealing with them.
Whether you run holiday lets, equine activities, farm or estate tourism, we can help your business. Please contact one of our landed estates and rural business team.
