If you run a business involving horses, you’re not alone. Across the UK, there are around 8,000 equine enterprises, directly and indirectly employing an estimated 250,000 people.
But even though you are part of a vibrant, multi-billion pound industry, is it hard to find the professional advice you need, from people who understand the way your business works?
Fawcetts are different. We’ve been looking after the financial interests of rural and equine enterprises for many years, so the tax and business advice we offer is based on years of experience in helping businesses like yours to achieve their maximum potential.
We understand the particular pressures facing equine businesses, and can advise you on the most appropriate steps to meet these challenges.
Our team will take time to get to know and understand you and your business and advise you on all the financial implications of running an equine business, including:
- business start-ups
- choosing the right business structure
- business acquisitions
- tax-efficient operations
- tax allowances and reliefs
- specialist VAT advice
- succession planning.
By working with you to establish where you are now, and where you want to be in the future, we can help you develop strategies to develop, diversify or expand to achieve your goals. We can also help your business to run more smoothly with support services including payroll and accounts.
Whether you work in equine tourism, run a livery stables, stud farm or riding school or work as a trainer, we will tailor our advice and services to meet your needs.
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Millions of people from across the UK could be paying more tax than they need to, it has emerged, after figures from HM Revenue & Customs (HMRC) showed that more than 15 million individuals have not checked their Personal Tax Accounts.
The figure means that less than half of taxpayers have accessed their accounts, risking errors in the amount they pay.
Personal Tax Accounts were introduced by the Revenue in 2015 and include details of income, state pension records and National Insurance contributions.
They were intended to make taxpayers responsible for ensuring they are on the correct tax code.
Personal Tax Accounts can be accessed at gov.uk/personal-tax-account. Registration requires your name, an email address and a password. This will generate a 12-digit Government Gateway ID which will be needed in future when you log in.
You will also need to enter a phone number to generate a separate access code, which will be sent by text or automated call.
To access your account, you will be asked to enter information from a passport, payslip or P60 as well as to answer some security questions.
Under the income section, you will find information on your tax code, including deductions made by HMRC.
It is worth checking your Personal Tax Account as soon as possible. Figures show that 6.7 million people paid the wrong amount of tax last year because their tax code was wrong.