Latest News

The Agriculture Bill - What we know so far

Agriculture Bill 2020 summary from Andrew Robinson, Head of Agriculture.

What’s ahead for farm tax in 2020?

Upcoming tax changes announced for the year impacting farming businesses

Understand your accounts and Cashflow

Lack of cash is usually the number one factor affecting a farming business not lack of profit.

VAT Pitfalls For Your Farming Business

When VAT was introduced in the 1970s it was described as a “simple tax”. For many farming businesses this may be the case, as all income is zero rated sales of crops and animals, which entitles all the VAT on related costs to be reclaimed.

However there are many instances where modern diversified businesses have VAT issues – either having to pay over VAT on some of their income or not being able to reclaim VAT on all their expenses.

Managing your Agricultural Business in a Changing Environment

Managing your Agricultural Business in a Changing Environment with guest speakers Robert Craig of Peepy Farm Northumberland and Adam Day, Managing Director of The Farmer Network.

Beware of these Inheritance Tax pitfalls

There are many cases where HM Revenue and Customs (HMRC) have argued that part of a farming business is chargeable to Inheritance Tax (IHT). It is dangerous to assume that 100% Agricultural Property Relief (APR) or Business Property Relief (BPR) will apply to every asset in a modern farming business.

The key here is to look at the differences between APR and BPR:

Autumn AgriMatters 2019 out now!

Welcome to our quarterly AgriMatters newsletter covering topical issues affecting farmers and the agriculture sector.

Included in this Autumn 201i9 issue is a guest article from Neil Wilson, former Head of Agriculture at HSBC with tips on how to deal with lenders in these challenging times, articles on the potential Inheritance tax changes and tax issues to be aware of if land is subject to Compulsory Purchase; plus guidance on how to understand your cashflow.

Inheritance tax – are you a farmer?

I am regularly asked how closely HM Revenue & Customs look at farming businesses when claims for Agricultural Property Relief (APR) or Business Property Relief (BPR) are made. A recent case heard by the First Tier Tax Tribunal involving a farmer in Lancashire gives the answer.

Thomas Gill had been a farmer all his life until he died in 2013 at the age of 79. The first point to note is that it has taken six years for Mr Gill’s Executors to sort out the amount of IHT, and it is possible that the case may still be appealed to a higher court.

UK Agriculture Industry - Planning for the Unknown

UK Agriculture businesses need to understand their business in preparation for the impact following Brexit 

Understanding your Cash Flow and Tax Payments

What is cash flow and tax planning, and why is it important for farming businesses to understand?