HMRC is consulting until 7 September 2015 on the detail of its proposal to extend the averaging period for farmers’ profits from 2 years to 5 years with effect from April 2016. This follows the government announcing an extension of the averaging period for farmers at Budget 2015. The consultation will explore ways in which the extension could be designed and implemented. The government will take all responses into account and plan to publish draft legislation for comment in advance of introducing legislation in Finance Bill 2016. See www.bit.ly/1GhrXEQ.
HMRC is consulting until 7 September 2015 on the detail of its proposal to extend the averaging period for farmers’ profits from 2 years to 5 years with effect from April 2016. This follows the government announcing an extension of the averaging period for farmers at Budget 2015. The consultation will explore ways in which the extension could be designed and implemented. The government will take all responses into account and plan to publish draft legislation for comment in advance of introducing legislation in Finance Bill 2016. See www.bit.ly/1GhrXEQ.
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