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    Landowners and waste management companies make small wins from Budget

    By Travis Benn – (3 min read)

    Philip Hammond’s budget announcement last week could be described as underwhelming and non-eventful, but with the impending uncertainty of Brexit, he is clearly trying to leave himself some space to tackle whatever changes our EU departure will bring next year. There were some positives which will leave landowners with a few extra pennies in their bank, and a new tax that has been well received by waste management companies.

    Tax

    While there were no changes to the rate of tax, Hammond is fulfilling the Conservative manifesto to raise the personal allowance to £12,500 and the higher taxpayers’ threshold to £50,000 (currently £46,351) in April 2019,  which is one year earlier than planned. This is good news for self-employed farmers as their allowance will increase by £650 which is nearly double the increase we saw at the beginning of this tax year, which we outlined here.

    Landowners will also be able to deduct two per cent of the cost of any new non-residential structures and buildings off their profits before tax.

     

    Staffing

    Landowners with small farms who employ apprentices will see some relief as Hammond promises to halve the apprenticeship levy contributions for smaller businesses from 10 per cent to five per cent.

    On the other hand the National Minimum Wage will increase by five per cent to £8.21 (currently £7.83), which has been described as ‘more than the sector expected’ by the NFU.

    Plastic Packaging Tax

    We have written about developments in plastic reform, and targets that have been set by the Circular Economy Package, and under the Plastic Pact managed by WRAP, and it seems the government is listening to the advice. Hammond says that producers of plastics will be taxed if packaging contains less than 30 per cent of recycled plastics.

    This has received a mixed response in the waste management community, but overall it is seen as a step in the right direction, with the Environmental Services Association’s (ESA) Executive Director, Jacob Hayler, saying it is the ‘most effective way’ to ensure the right incentives are in place for recycling, rather than to penalise Energy from Waste.

    On the waste front Hammond also committed to give £10m to dumped waste, and made a commitment to reform the Packaging Producer Responsibility.

    These commitments have been made against the backdrop of ‘austerity coming to an end’,  which is a step in the right direction, but it is caged in ambiguous and cautious tones. Until there is clarity on what sort of Brexit deal we will get, all of this is subject to change, and if for example we are left with a no-deal EU exit, we could be discussing the terms of a completely new budget next spring.

    For further information, please contact:

    Travis Benn

    Co-Founder

    0203 375 6144

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    • “In every instance Accounting for Energy have identified and recovered shortfalls in rent for my clients. Not only do the landowners receive back payments but they are also keen to show developers that they are being held to account.”

       

      Chris Thyer MRICS FAAV

      Land Agent, GSC Grays

    • “We don’t have comparable leases in renewable energy meaning there are few examples to draw from, so it’s always good to have checks and balances in place. We would recommend Accounting for Energy for their diligence.”

       

      Ali Walker

      Property Co-ordinator, Bath and Wells Diocese, Church of England

    • “The information provided by the turbine owner seemed to be comprehensive. The issue comes with knowing if all the data is complete and the audit was able to identify areas that we should have been receiving royalties on.”

       

      Ben Ardern

      Financial Controller, Dewlay Cheesemakers

    • “I worked with Travis on a set of arbitral proceedings to recover unpaid royalties on behalf of the landowners of a large renewable energy site. I was very inspired by his passion for his industry and his tireless commitment to getting the best results.”

       

      Sarah Bishop,

      Commercial Disputes Solicitor

    • “Travis is the go-to person for renewable energy landowner royalty payments. He gets into the details of a case, and is very tenacious in identifying and recovering any monies owed to landowners.”

       

      Grant Jones,

      Chartered accountant, solicitor and practising arbitrator

    • ““I would recommend Accounting for Energy because they are clearly experts in this area, and they were good to work with. It was an easy
      decision to get them on board because we really didn’t have the expertise or the time to be trawling through the lease and power purchase agreement.”

       

      Nick Kenyon,

      CEO, Dewlay Cheesemakers


  • Testimonial with bg

    • “We found your report informative and easy to read, it was good to see how the wind farm is performing and we were pleased with the results of the audit”

       

      Mark Charles, Exeter

      Share
    • Sara James, Durham

      Share
    • Martin Roberts, Peterborough

      Share
    • Tracy Maria, Cumbria

      Share
    • David Terrence, Devon

      Share
    • “In every instance Accounting for Energy have identified and recovered shortfalls in rent for my clients. Not only do the landowners receive back payments but they are also keen to show developers that they are being held to account.”

       

      Chris Thyer MRICS FAAV Land Agent, GSC Grays

      Share
    • “We don’t have comparable leases in renewable energy meaning there are few examples to draw from, so it’s always good to have checks and balances in place. We would recommend Accounting for Energy for their diligence.”

       

      Ali Walker Property Co-ordinator, Bath and Wells Diocese, Church of England

      Share
    • “The information provided by the turbine owner seemed to be comprehensive. The issue comes with knowing if all the data is complete and the audit was able to identify areas that we should have been receiving royalties on.”

       

      Ben Ardern Financial Controller, Dewlay Cheesemakers

      Share
    • “I worked with Travis on a set of arbitral proceedings to recover unpaid royalties on behalf of the landowners of a large renewable energy site. I was very inspired by his passion for his industry and his tireless commitment to getting the best results.”

       

      Sarah Bishop, Commercial Disputes Solicitor

      Share
    • “Travis is the go-to person for renewable energy landowner royalty payments. He gets into the details of a case, and is very tenacious in identifying and recovering any monies owed to landowners.”

       

      Grant Jones, Chartered accountant, solicitor and practicing arbitrator

      Share
    • “I would recommend Accounting for Energy because they are clearly experts in this area, and they were good to work with. It was an easy decision to get them on board because we really didn’t have the expertise or the time to be trawling through the lease and power purchase agreement.”

       

      Nick Kenyon, CEO, Dewlay Cheesemakers

      Share

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