There are numerous other rural based businesses who have diversified to enhance, maximise or replace income.
Just some of these may include:
- Renewable energy production – we can advise on the tariffs and tax reliefs available and how this interacts with your overall tax position;
- Rental of space – this could be subletting part of your land or property, renting a second home or part of your existing one. We will advise you of all of the tax and commercial issues that you need to consider when doing this.
- Consideration of the impact on VAT and the wider business implications.
There are many and varied other ways of diversification and we have vast experience in numerous areas. Our experienced team can offer you the advice and support you need.
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Developed by our team of experts, the Moore Scarrott Rural newsletter keeps you informed with the latest news and insights impacting the financial landscape of the Agriculture and Rural sector.