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Shrewsbury & Atcham Liberal Democrats

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“Local farmers will save £950 every year” says Christine Tinker

March 26, 2015 1:30 PM
By Christine Tinker

Christine Tinker has welcomed the announcement that self-employed local farmers can average their profits for income tax purposes from 2 years to 5 years to make it easier to plan and invest for the future.

Farmers typically have volatile profits, often due to uncontrollable factors such as the weather, disease outbreaks or fluctuating product prices. This volatility makes it difficult for farmers to plan and invest for the future.

Over 29,000 self-employed farmers nationwide could benefit from the extension to the averaging period. The average individual gain is expected to be around £950 annually.

Following the announcement local campaigner Christine Tinker said:

"Increasing the period over which farmers in Shropshire can average their profits will create a fairer system for hard working local farmers.

"This announcement will be a huge benefit to local farmers, creating a stronger local economy from the ground up.

"This Budget shows that the Liberal Democrats are building a stronger economy and a fairer society to create opportunity for everyone."