Tax…

Ok, so occasionally I’m a bit of an idiot.  Occasionally I make a mistake and over reach or forget something.  I’d suggest that most of the time they are genuine mistakes rather than being incompetent…

But, tax always confuses me!

In this blog I’ve likely expressed the recent challenges that the farm has had, I’m not going to explain the numbers this time but can say that we’ve lost reasonable amounts of money for the last two years.  Consequently it didn’t even enter my mind that we might owe the government some money.

3 years ago we made a profit, 3 years!  But because of the way the accounting years line up we need to pay tax on that profit this month.  But, we’ve lost money for the last 2 years, consequently this news comes as an unwelcome surprise!

I have no doubt we will manage and of course we will pay all that is due but this really has taught me a lesson in planning, cashflow and ultimately accruals.  I’m hoping that this is the last nasty surprise I’ll have but have a feeling that there could be more mischievous skeletons waiting to ambush me as I meander past their closets.

Not the way I wanted to start the year… Hopefully good news arrives during the next few weeks so we can close January on a high.