Agriculture

Based in the heart of the Eastern Regions for 90 years, Agriculture remains our biggest client group with a wide range of specialist accounting requirements.

As experts in the industry we offer support with aspects including:

  • Stock Valuation
  • Preparation and submission of annual accounts and tax returns
  • Payroll
  • Capital Gains Tax (CGT) Advisory Services
  • Inheritance Tax and Succession Planning

We can also help answer questions such as

  • How can I minimise my tax liability?
  • What do I need to consider when developing a succession plan?
  • How do I manage my business tenancies?

Our Farming Group meet regularly throughout the year, with representatives from across the firm discussing current affairs impacting the sector as well as ensuring the team are up to date with recent legislative changes.

The group also develops half-yearly Agricultural Newsletters which offer discussion on current subjects within the industry.

Discover the latest edition of our Agricultural Newsletter

 

Get in touch with your local office and speak to one of our specialist Agricultural advisers.

Client Review

In the years that you and your colleagues have acted as my accountants, a professional service has developed into a valued friendship and source of financial advice and guidance. In both service and professional terms, you have really gone the extra mile.



 
Latest Blogs in Agriculture
 
James Cater
27th May 2021 DEFRA’s Lump Sum Exit Scheme

DEFRA have now issued the consultation document regarding the lump sum payment for exiting agriculture. Having listened to the NFU webinar concerning this it seems to me that the lump sum, whilst being attractive from a cash flow perspective, has little else too recommend it. Clearly we have a lot more to learn and in…

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Ben Kilby
25th March 2021 I hear a rumour…

I hear a rumour that Lloyds Agricultural banking team based in Edinburgh has been disbanded and merged within other teams around the country. Although some within the new regional teams may have some knowledge of agriculture it has been suggested that customers felt that this was not important. It seems that the agricultural specialism within…

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Louise Bassett
11th March 2021 Don’t miss the deadline for applying for Countryside Stewardship Schemes

With the reduction of the Basic Payment Scheme (BPS) starting in 2021, many farmers may be looking to other income streams to bolster their finances.   If this is you, then don’t delay looking into and applying for Countryside Stewardship Schemes (CSS). The window is open now for applications for schemes beginning on 1 January…

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Ian Piper
8th March 2021 Budget 2021: Super Capital Allowances

In what was seen my many as a Budget lacking in ideas to kick start the economy back into life, Rishi Sunak’s announcement of a notional 30% uplift to eligible capital allowances headlined as the proverbial ‘rabbit out of the hat’. The tweaked allowances will give businesses purchasing brand new plant and machinery more tax…

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James Cater
7th December 2020 Farming Update: Winter Newsletter

Whitings Farming Group publish their half yearly commentary on what’s topical in the agriculture sector: Click Here (for edition 17) Blog Entry by: James Cater

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James Cater
4th December 2020 Agriculture Act 2020 – Changes to subsidies for agriculture

Following the publication of the Agriculture Act 2020 it is now clearer how subsidies to agriculture are going to change, with the first predominant feature being the running down of the Single Farm Payment regime. For farmers in parts of Norfolk and Suffolk there is opportunity to tender to participate in a £320,000 project to…

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Ben Kilby
1st December 2020 New Version: KEYPrime Version 9.5

If you use the rural business software KEYPrime from Landmark Systems, look out for the new version of the software 9.5. What are some of the new features?   Batch Entry – A faster way to enter data New and improved – Diary function Store Web links to documentation (View documents saved to Auto-entry, Receipt…

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Philip Peters
16th November 2020 Planned Large CapEx? HMRC extend Annual Investment Allowance

Those businesses that have large capital expenditure spends each year, such as manufacturers and farmers, will be aware that there has been a very generous capital allowances tax regime in recent years, currently allowing year 1 tax relief on eligible purchases up to £1m pa. This generosity was scheduled to be reduced wef 1 January…

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Ben Beech
2nd November 2020 Annual Investment Allowance (AIA) Decrease

The annual investment allowance (AIA) limit is currently due to decrease from £1 million to £200,000 from 1 January 2021. Many businesses will have deferred decisions about purchasing capital equipment this year as a result of the COVID-19 pandemic, leading to a number of professional bodies urging the Chancellor to postpone this decrease. However, it…

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Jeannette Hume
20th October 2020 Indexation Relief: Bank it

The Office of Tax Simplification (OTS) has been in consultation with individuals, businesses as well as professional advisers – including accountancy bodies – to review the capital gains tax system and see whether there is any scope to simplify the current tax system. The consultation process closes on 9th November 2020.   Speculation has been…

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