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Young farmers payment accounts

bosallagh88 · 2018-06-27 19:33:41

Folks I recently received payment for 2017 young farmers payment apparently they request the business accounts for the first year you are head of holding to show that you get 51% of the profit would this be an issue with a joint account?

27-06-2018 7:33pm

#1

bosallagh88

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Join Date: April 2017

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Folks I recently received payment for 2017 young farmers payment apparently they request the business accounts for the first year you are head of holding to show that you get 51% of the profit would this be an issue with a joint account?

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#2 06-07-2018 10:10pm

Aravo

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Is it not that they want confirmation that there is a joint bank a/c in place. Also the percentage split is min 20% to the young farmer. Some are doing this especially if the young farmer has off farm income so you don't get screwed with tax after all your hard work. Best to speak with an accountant to advise.

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