TaxAdministrationTax man eyes up farm B&Bs

Tax man eyes up farm B&Bs

HMRC could be checking the 'separateness' of farms and B&Bs

HM Revenue & Customs are cracking down on farmers that account for their
Bed & Breakfast arms separately to their farms.

Farmers’ books are being looked at by the taxman and whether or not the
accounting should be consolidated to show one company rather than two separate
ones,
the
Western Telegraph reported
.

Joining the B&B and farm would mean the turnovers would more than likely
top the £67,000 threshold, incurring a VAT charge.

It is also thought that the HMRC may pursue VAT from previous years from the
farmers, which critics believe is ‘heavy-handed’ given the state of the economic
climate.

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