Rural businesses snubbed in UK budget says valuer

Farming UK reports on claims from the Central Association of Agricultural Valuers that the exclusion of a huge proportion of the rural economy from the new super deduction capital allowance is ‘perverse and discriminatory’

The campaign group maintains that the 130 per cent super deduction capital allowance announced in the Spring Budget is limited to companies and therefore excludes a substantial part of the economy.

The association warns: ‘At a time when the economy needs more support to invest than ever before, the exclusion of partnerships and sole traders from the super deduction relief is limiting productivity in the rural and agricultural sectors in which these business structures dominate’.

The report outlines how the exclusion is perceived as a direct and conscious discrimination against all unincorporated businesses by the Government – hindering investment and productivity.

This has been exacerbated by the Help to Grow Digital scheme which was also announced in the Budget, which requires a company registration number for a business to express an interest.

This limits the potential for rural businesses, which can often be family-run and therefore very few are incorporated.

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Farming UK - Rural economy 'snubbed' by 'super deduction' plan