The industry is still struggling with the fallout from previous reforms of the CAP, but attention is now switching to what might come next.

It seems that the 2005-06 milk year will see a record shortfall of wholesale UK production against quota. The RPA has not yet confirmed the figures, but the final position could see production levels at more than 300m litres below quota.

Earlier in the year, UK residents with Swiss bank accounts were given the choice between subjecting their Swiss assets to a one-off tax payment or authorising their bank to provide details of their Swiss assets to HMRC.

"Winners are first time buyers, small businesses, and successful entrepreneurs. The losers are essentially the evaders and avoiders, the wealthy and of course cider drinkers.

HMRC has recently issued more details of the annual ‘employment allowance’ of £2,000 to be set-off against employers’ NIC bills from April 2014 which make it clear that this will apply for all businesses, charities and Community Association Sports Clubs.

The FCA published consultation paper CP13/5 in July, proposing material changes to the client money, custody assets and mandate rules in relation to investment business.

The Chancellor announced his Pre-Budget Report (PBR) on 9 December. Focusing on the positives, farmers and landowners can breathe easily again; for a while, at least.

Number of companies trading on AIM as at 30 September 2013 1,090

Leaders from some of the South West’s biggest and most successful industries have come together to draw a road map to the region becoming Britain’s agri-food sector ‘centre of excellence’.

The CGT reinvestment relief of qualifying SEIS investments has been extended.

Pamela Sayers looks at a recent case concerning whether a partner had employment or partner status for tax purposes.

The economy continues to bump along with little growth.

Smith & Williamson will offer a Junior ISA, the new tax-efficient savings account for children, from 1 November 2011.

The Pensions Regulator recently published a statement on financial support directions and insolvency.

The introduction of a new Groceries Code adjudicator took an important step forward when the Bill was introduced into Parliament in May.

Defra has released updated farm business income figures for England, which show an increase in profitability for most sectors.

Businesses can claim first year allowances (FYAs) on certain types of plant and machinery. FYAs allow the business to claim up to 100% of the expenditure incurred.

Taxpayers who are more than three months late in filing their self-assessment tax return become subject to a late filing penalty of £10 per day.

The HMRC has established a task force specifically to look at irregularities with the tax affairs of solicitors and barristers in the London area.

By 2016 HMRC will have full details of UK resident beneficial owners of bank accounts, companies and trusts which are located in Jersey, Guernsey and the Isle of Man.