Our blog on the latest rural and agricultural issues.
Hot topics from Cereals 2018
June 18, 2018
We were proud to sponsor the CLA’s barbecue lunch event at Cereals on Wednesday 13 June, where the weather proved to be perfect for taking in all that the new format Cereals had to offer; the focus on innovation and technology shows what exciting opportunities lay ahead.
Borrowing on the rise with a 2% increase by agricultural sector in 12 months
May 21, 2018
This is up by £420m on the previous year and at first sight appears to be a negative statement. If the increased borrowing is short term and a means to cover poor profitability and therefore negative cash flows, then this is not a good sign, but if this is not the case; is this necessarily a bad thing?
Visit us at Cereals 2018!
May 9, 2018
We are proud to be sponsoring the CLA barbecue lunch and drinks event at Cereals 2018, on Wednesday 13 June between 12 noon and 3pm, and hope that you will join us there.
The ‘nuts and bolts’ of machinery purchasing
March 5, 2018
With seemingly ever-increasing farm machinery costs and pressure from the government for farmers to become more efficient food producers, farmers face an even tougher decision now on whether to expand or replace machinery pools.
Planning for the taxman – what should farmers be doing?
February 28, 2018
For a lot of our farming clients who have a 31 March year end, the next month or so is a good time to consider and finalise Income Tax planning for the 2017/18 tax year.
OTS indicate the scope of review for Inheritance Tax
February 23, 2018
Following on from our blog of 5 February on the request from the Chancellor that the Office of Tax Simplification (OTS) carry out a review of aspects of Inheritance Tax (IHT), this recent letter from the OTS gives an indication on the scope of the review.
Overhaul of Inheritance Tax – what might it mean for farmers?
February 5, 2018
Philip Hammond has written to the Office of Tax Simplification (OTS) asking for a review, describing the present Inheritance Tax (IHT) regime as ‘particularly complex’. It is unknown as to whether his plans for IHT reform will be an overhaul, upheaval, simplification, update or just a simple review.
HMRC outsmarted on VAT-able farming activities
January 22, 2018
Can VAT charged on an asset that gives rise to non-VAT-able income be reclaimed by the purchaser? This point was argued recently in the Scottish Court of Session between HMRC and farming company Frank A Smart & Sons Ltd, with HMRC losing its case.
What’s happening to farming subsidies post-Brexit?
August 11, 2017
The secretary of state for environment, food and rural affairs, Michael Gove, has stepped into this mire with his comments on subsidies that are designed to stabilise the rural and agricultural sector; but have they done that?