As a new entrant looking to get started in the agricultural industry there are often many barriers in your way. Obtaining sufficient working capital, finding land with ‘affordable’ rents and accessing a market for your produce are just a few. If you are lucky enough to get started and make a career out of farming, some years later you may well be faced with the opposite problem; succession and the best way to get out of farming.
In this, Part 2, of a series about taxation of the family I have highlighted below some Capital Gains Tax and Inheritance Tax points of which Married Couples should be aware. In forthcoming blogs I will go on to discuss more specific issues for children
Following an exceptional 18 months, during which we not only strengthened our offering in Devon but also expanded beyond the county for the first time ever, we are in the running for a prestigious business award.
In this, Part 1, of a series about taxation of the family I have highlighted below the importance of utilising allowances and the joint ownership of assets for the Married Couple. In forthcoming blogs I will go on to discuss Capital Gains Tax and Inheritance Tax issues and more specific issues for children.
This month we learn more about Okehampton based Accounting Technician, Sarah Chammings.
What is you role within Thomas Westcott?
I am an Accounting Technician in the Okehampton Office where I prepare Accounts, Tax Returns, VAT Returns, PAYE and bookkeeping. I have also just become Quickbooks Certified, which means I will be able to assist our clients who have moved onto the new cloud based Quickbooks Intuit.
For a long time now, small businesses registered for VAT have had the option to streamline the VAT return process, providing their turnover is below £150,000. By paying VAT on a percentage of gross sales they have been able to significantly simplify their quarterly bookkeeping process.
A team of Bridgwater youth footballers is ready to take on the world after we arranged for a member of England Colleges’ football team to provide some valuable coaching, followed by one of our partners presenting the team’s management with a cheque to help buy new training kit.
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