Farming and Grant Reminders - Dec 2008
Environmental Stewardship Scheme
If you have not already applied to this scheme I would strongly urge you to do so. Joining at the Entry Level is relatively straightforward and need not have a great impact on your daily farming operations. The scheme makes 2 payments per year to its members, the amount you receive depends on the management options you choose to take on and the amount of land they cover. In the current financial climate there are few businesses which can afford to ignore this type of scheme.
Agricultural Buildings Allowances
Are no longer available on the construction of assets which class as buildings. However, an allowance of 100% is currently available on the first £50,000/annum of expenditure on plant and machinery including tractors, implements, farm machinery and commercial vehicles such as pick-ups. It is vital therefore to ensure that where a building project is undertaken which is part plant & machinery and part building, invoices issued fully reflect the work done in order to enable us to allocate the appropriate amount to the higher allowances.
Tax Credits
If you have applied to make a protective tax credits claim for 2008/09 and you start to receive any money from the Tax Credits Office, please ensure you do not spend any of this money until we have confirmed that you are entitled to receive it. Due to the way the scheme works, you have to apply for the scheme before your income details can be calculated. Therefore, confirmation of eligibility can not be made until your 2008/09 accounts have been drafted. If you are affected by this then it is in your interest to let us have your 2008/09 accounts papers as soon as possible following your financial year end.
Fuel Scale Charges
All businesses which are applying scale charges should be using the rates provided by HM Revenue & Customs based on CO2 omissions of the vehicles and not the old rates based on engine size.
Earlier Payments Expected for Farmers and Land Owners
The window for the 2008 Single Farm payment opened on December 1st and RPA (England) is expected to make 75% of payments by the end of January and 90% by the end of March.
Business Finance
Help is available in the current economic climate to all small and medium sized Enterprises which employ less than 250 staff.
Small Loans for Business
To help individuals, small business owners and social enterprises to start up and expand. To be eligible individuals and businesses must have been unable to secure commercial finance and have a viable business plan.
Start up
Free advice to help people start a business.
Recover your Debts
Guidance is available on how to recover bad debts within the Business Link Northwest website.
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