There is a new source of grant funding available across the South West to businesses operating in rural areas. This is European Agricultural Fund for Rural Development (EAFRD) funding and it is now available to support projects that increase rural jobs, growth and productivity in rural areas.
What action can individual businesses take to survive?
Family farms have always been part of our countryside, but numbers have been declining as the pressure on farming increases, and through lack of succession, as the next generation choose to move away from the farm.
The financial reporting environment is going through considerable changes caused by changing government legislation and the most significant change to accounting standards in many years. The impact of this needs careful consideration to ensure that organisations take the right actions.
Despite the looming prospect of Brexit the overwhelming majority of businesses in the South West looking to export are eyeing Europe as part of their 2017 expansion plans.
That’s one of the headline findings of a far-reaching survey into South West businesses’ growth plans we recently carried out.
Many people in the past have been reluctant to use tax planning involving a trust, especially a Discretionary Trust, as they see it as complicated, over-burdening and expensive. However in all reality this is not the case.
There are other types of Trust that can exist, with different legal and tax consequences, but I am concentrating on a Discretionary Trust. This is a Trust where no beneficiary has an entitlement to the income or capital, instead the Trustees choose how much income in the Trust should be distributed to whichever beneficiary they choose.
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