Agriculture

With our 11 offices located in the heart of East Anglia, we are surrounded by some of the most fertile soil in the country. Agriculture makes up one of our largest client groups. We have identified this as a sector requiring specialist advice and we have created a specialist farming group to provide these services to clients.

Areas that farmers typically require specialist assistance from us include:

Compliance Services

  • Preparation and submission of annual accounts and tax returns.
  • Stock valuation (in accordance with HMRC guidance),
  • Accounting and taxation of Government subsidies and quotas,

Outsourced Services

Advisory Services

  • Capital gains tax advice in relation to land sales and succession planning,
  • Using capital purchases and employer pension contributions, pre year end, to minimise corporation tax exposure,
  • Advice on the relative tax merits of contract farming and farm business tenancies,
  • Protecting the family business from the possibility of next generation failed marriages (via use of trusts)
  • Inheritance tax reviews.

Agriculture is a sector with unique accountancy requirements. Instruct us to act for you, and rest assured that we will understand your business and look after your best interests.

Whiting & Partners Farming Group Newsletters:

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
30th October 2017 Changes for Farmers in VAT flat rate scheme

  The decision has recently been published in a European Court of Justice case, Shields and Sons Partnership v the Commissioners for HM Revenue & Customs. The case revolved around the authority of HMRC to remove the partnership from the VAT flat rate scheme for farmers. It is reported that the partnership had benefited over…

Read More »

Richard Carr
27th October 2017 Active Farmers Accountant Certificates: Recent announcement

  We have recently become aware of an announcement in October 2017 by the Rural Payments Agency regarding Active Farmers Accountant Certificates. This concerns farmers who are in receipt of payments from the Basic Payment Scheme (BPS) 2017 and follows a European Union audit requiring the Rural Payments Agency to check the active farmer status…

Read More »

Andrew Band
2nd May 2017 Anderson’s present Farming Seminar in Ely

Once again we held our annual Farming Seminar, on the morning of Wednesday 26th April at the Maltings in Ely. Graham Redman and Michael Haverty of The Andersons Centre once again updated us on the state of UK agriculture. Graham and Michael provided some interesting DEFRA statistics with an overview of how each segment of the agricultural…

Read More »

Andrew Band
27th March 2017 Whitings’ Annual Farming Seminar

Invitation: Prospects for UK Agriculture. Once again agriculture is facing many changes and challenges. In order for us all to try and understand the many factors affecting us we have again engaged Andersons, the Farm Business Consultants, to present to us their “Prospects for UK Agriculture” Seminar, on Wednesday 26 April 2017. We are pleased,…

Read More »

James Cater
23rd February 2017 Digital Carrot or Stick?

Making Tax Digital: Looking at cloud solutions. The Cultural Revolution, according to Wikipedia, was a socio-political movement, which took place in China from 1966 until 1976. Half a century later ….. Full article in Farmer & Growers publication (March 2017 edition)   Blog entry by: James Cater.

Read More »

James Cater
1st January 2017 Agricultural Update

Farming Group Newsletter: Spring 2017. In this edition Whitings farming group look at Brexit, our annual farming seminar, development land, trusts, divorce, machinery leasing, double taxation and tenancies.   Full Newsletter   Blog entry by James Cater.

Read More »