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
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.

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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.

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Ben Kilby
4th November 2016 Farm Accounting

Farm Accounts: Reached the Cloud? As technology has advanced in Agriculture and more bespoke equipment is being used day in day out, is it time for farmers to reach for the cloud? Can farm accounts software meet this challenge…..Yes they can! Over the past few months we have been working closely with Quickbooks Online to…

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James Cater
4th November 2016 Agricultural Income

Farm Diversification: Proceed with caution ! As farmers innovate and squeeze more income streams from their land, care should be exercised to avoid potential capital taxers and VAT traps:

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James Cater
4th November 2016 Farming Opportunities

Farming: Summer Update Whitings’ Farming Group looks at BREXIT, Energy Barns, New farm income streams, Entrepreneurs relief, Averaging, Permitted developments, Probate and FRS102.

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James Cater
4th November 2016 Farmers

The options for cloud accounting available to farmers are increasing. Already QuickBooks Online have developed a nominal ledger format and reporting routines for their cloud-based system which facilitate the compilation of gross margin accounts and harvest year results.

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