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Kathryn Williams:-

Time running out to apply for BPS support scheme

Farmers in Wales are reminded they have a short time to apply for the BPS Support Scheme before the November 29 deadline, to ensure they receive the majority of BPS claim value when the payment window opens on December 1.

Wales' Rural Affairs Minister, Lesley Griffiths Lesley Griffiths sad that over 75 per cent of farmers (almost 12,000) will receive their full BPS 2019 payment on Day 1 while businesses that do not receive their full payment, and have applied for the BPS Support scheme, will receive up to 90 per cent of their BPS 2019 claim value.

The Welsh Government will be unable to deliver the same level of full BPS day 1 payments as achieved in previous years but as long as farmers have applied for the Support Scheme, they will receive the majority of their BPS payment claim value from December 9,

This is an opt in scheme and farmers need to apply for a support scheme payment by November 29 using their RPW Online account.

For help contact Kathryn Williams at Davis meade Property Consultants on 07971 583638, Email: kathrynwilliams@dmpcuk.com

 

Grants available to boost small businesses

Small rural businesses in England looking to start a new business or expand an existing one are eligible to apply for grant funding from the RDPE Growth Programme

To help rural businesses grow and create more jobs, the Business Development Grant is offering grants from £20,000 up to a maximum of £175,000 to cover up to up to 40 per cent of total eligible costs.

Applicants could be farmers or members of the farm household who want to diversify into non- agricultural activity and grant funding can help pay for constructing or improving buildings or buying new equipment and machinery.

“These grants are aimed at projects that will boost jobs, grow a business, improve productivity and open new product markets or export opportunities,” said Kathryn Williams of Davis Meade Property Consultants .

“There are two stages to the application. First, you must submit an ‘expression of interest’ (EOI) form. If this is successful you will be invited to submit a full application.”

In the Marches Local Enterprise Partnership area, priority will be given to projects that:

• enable farming business to diversify into non-agricultural activities, including rural workspace, workshops and on-farm retail

• support rural businesses to grow and expand

• help businesses to implement new technologies, processes or equipment to improve productivity

For more information contact Kathryn Williams at DMPC on 07971 583638 or email kathrynwilliams@dmpcuk.com

 

Grants to boost food processing

Food and drink businesses that process agricultural and horticultural products can apply for grant funding under the RDPE Growth fund.

Food processing grants offer funding from £20,000 to £175,000 for projects that create jobs, grow the business, benefit the supply chair, access now markets or improve productivity through innovation.

Eligible businesses might be meat processors, milk processors or fruit processors that fit the national local priorities for funding.

There are two stages to the application. First, you must submit an ‘expression of interest’ (EOI) form. If this is successful you will be invited to submit a full application. Up to 40 per cent of eligible costs can be claimed.

For more information contact Kathryn Williams at DMPC on 07971 583638 or email kathrynwilliams@dmpcuk.com

 

Grant funding for tourism projects

Grants for rural tourism are now available in England through the RDPE Rural Growth Programme.

The Rural Tourism Infrastructure Grant offers funding up to £175,000 to fund the costs of capital expenditure on tourism infrastructure to support projects that will encourage more tourists to come, to stay longer and to spend more money in rural areas.

Examples of eligible projects might be a local council path development programme, extending a museum, investment into visitor attractions.

The grant is open to commercial businesses, non-profit organisations and community projects.

Commercial, profit-making projects (such as a tourist attraction) can claim up to 40 per cent eligble costs, an organisation that makes some income to offset costs but is not intended to make a profit (such as small buildings for tourist information) can claim up to up to 80 per cent while non-profit projects such as a cycle path can claim up to 100 per cent.

Kathryn Williams of Davis Meade Property Consultants at Oswestry said; “There are two stages to the application. First, you must submit an ‘expression of interest’ (EOI) form. If this is successful you will be invited to submit a full application. The EOI must be submitted before February 16, 2020.

For more information contact Kathryn Williams at DMPC on 07971 583638 or email kathrynwilliams@dmpcuk.com

 

Eifion Bibby:-

Stay in control to get tax relief on farm

Farming estates and farmers looking to reduce the burden of Inheritance Tax on agricultural property can take heart from a recent tribunal which ruled in favour of a deceased farmer over HMRC.

In the case Charnley and another v HMRC [2019], which went to the First Tier Tribunal in July, a farmer (deceased) succeeded in getting Agricultural Property Relief (APR) and Business Property Relief (BPR) on grazing land which he licensed out and his farmhouse.

The farmer in the case, who died in 2013, in his later years allowed other farmers to graze much of his land under annual grazing licences. After his death his estate claimed APR and BPR but the relief was refused by HMRC over the house, barn and buildings.

Commenting on the case, Eifion Bibby, a land agent with Davis Meade Property Consultants, said that whilst HMRC may appeal the significant fact for the Taxpayer was the level of active husbandry undertaken in respect of the land, the grass and others’ livestock allowed on under grazing licences to maintain his “working farmer status “ in the years prior to death .

“He spent a lot of time tending the land and the grazier's cattle, inspecting them at least once a day, more when necessary, very actively managing grass, boundaries, water etc and making silage for which he had a good range of machinery, much of it old but apparently very serviceable,” explained Eifion.

“This meant that the estate could show that the farmer was in control of the land even though he let it out.”

Charles Cowap, a rural tax specialist and visiting professor at Harper Adams University, said that the issue of actual APR should not be a problem in this case as this relief is available on agricultural land no matter whom is doing the actual work provided it has been owned long enough.

The real challenge is for BPR on any excess of market value over agricultural value, and for APR on the farmhouse itself.

Since the deceased was considered an active farmer managing the farm from his home, it followed that the farmhouse should qualify for relief. The buildings were used for housing stock and machinery so could also be included for APR and BPR.

The key is that the more farmers can prove that they do a genuine job of managing the grass crop the better their chances of claiming tax relief on death.

“It is important that farmers keep a careful record of all the work they do on their farm even though their land is licensed out,” said Eifion.

“HMRC seemed to make something of the fact that the farmer did this work voluntarily so it may be worth considering setting up a stock supervision agreement as part of, or alongside, a grazing licence in the future.”

For more details go to http://www.bailii.org/uk/cases/UKFTT/TC/2019/TC07425.html or for advice contact Eifion Bibby at DMPC on 01492 510360, email eifionbibby@dmpcuk.com

Note to editors. Although the hearing was back in July the decision was not issued until October 28.

 

 

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Oswestry Office, 103 Beatrice Street, Oswestry, Shropshire. SY11 1HL
01691 659658

Colwyn Bay Office, Plas Eirias Business Centre, Abergele Road, Colwyn Bay, Conwy. LL29 8BF
01492 510360

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