average

  • Extended tax averaging for farmers

    Under new rules that come into force today (6th April 2016), farmers will be able to average their profits for Income Tax purposes from two years to five years. The move is aimed at helping farmers with fluctuating profits manage risk and the impact of global volatility, now an inherent feature of the agricultural industry. Chancellor of the Exchequer, George Osborne, comments: “Today’s reforms will ...

    Posted at April 6, 2016 | By : | Categories : News | Comments Off on Extended tax averaging for farmers