SFP sales will be VAT rated

Shirley, Andrew
March 2008
Farmers Weekly;3/7/2008, p19
Trade Publication
This article reports that all sales of single farm payment entitlements will be value added tax (VAT)-rated, according to the British Her Majesty's Revenue & Customs. Previously, VAT was only charged on stand-alone entitlement sales, but now the tax will also be levied on entitlements attached to land sales. Carlton Collister of accountant Grant Thornton said the change would have little impact on farmers buying land because they could reclaim the VAT, although it would affect cash flows, he said.


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