The recent report carried out on Modern Working Practices has seen the Hospitality sector identified as one where a significant proportion of the workforce are on, or close to, the minimum wage.
It is all too easy to inadvertently fall foul of the National Minimum Wage (NMW) and National Living Wage (NLW) rates and with the repercussions for doing so quite severe, including naming and shaming, it is important to review this on a regular basis.
Land, of any sort, is difficult to value. As accountants we are often required to value assets of one sort or another, and various tools have been developed to do so. However, none of these tools is particularly helpful when we look at agricultural land. Rental yield, when you take out some management costs, is miniscule, and there are many uncertainties, of which Brexit is only one.
We have seen some unusual political times over the last few years and these have produced uncertainties for the many small businesses that are the lifeblood of the UK economy. I have written recently about Making Tax Digital (MTD) and how this would have a significant impact for these small businesses, including those with rented properties.