Agriculture
As accountants based in the heart of the fertile East Anglian region, agriculture remains our biggest client group, requiring a wide range of specialist accounting and tax services.
We have developed a wealth of accounting/tax experience and insights into acting for agricultural clients, who typically require a mix of our services such as:
Advisory Services
- Inheritance Tax exposure minimisation
- Succession planning for the next generation
- Exit planning on the sale of the farm and other Capital Gains Tax planning e.g. on development land sales
- Structuring your affairs to protect wealth. Options on land ownership (business, personal, SPV (Special Purpose Vehicle)) and structure tenancies
- Income tax planning, farmers averaging, making pension contributions, maximising capital allowances claims and general tax planning
- Consideration of whether to trade as an unincorporated or a limited company entity
- Maximising VAT recovery on property and other non core expenses (including consideration of property options to tax)
- Helping you source and apply for grant finance
- Helping you to understand your performance and Bench-marking your turnover growth
- Pensions and investments wealth management
- Pre-5th April Tax Planning Opportunities
Outsourcing Services
- Bookkeeping
- Company secretarial duties including maintaining your statutory registers and minutes, together with annual Companies House submissions
- Payroll
Compliance Services
- Assisting you to make your book-keeping system Making Tax Digital compliant
- Preparation of annual statutory accounts, including stock valuation in accordance with HMRC rules
- Completion and submission to HMRC of business tax returns (company tax return, ATED & P11ds), ensuring in compliance with HMRC industry specific tax rules
- Completion and submission to HMRC of the directors personal self-assessment tax returns
- Before submitting these tax returns to HMRC, taking out our Tax Fee Protection Service to mitigate the potential extra professional fees that would arise if HMRC open a tax enquiry into one of your tax returns
Key risk areas for such an enquiry in this sector:
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- Benefits in kind
- VAT recovery on property costs
- Capital allowance claims
- Land disposals
- Ongoing losses/profit motive
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. This group also develops half-yearly agricultural newsletters which offer discussion on current subjects within the industry.
Newsletter edition:
26 | 25 | 24 | 23 | 22 | 21 | 20 | 19 | 18 | 17 | 16 | 15 | 14 | 13 | 12 | 11 | 10 | 9 | 8 | 7 | 6 | 5 | 4 | 3 | 2 | 1
Our Tax Group Brief Guides:
Pension Funds – Tax Treatment on Death
Property Investment – Tax Aspects
Property Investment – Buy to Let
Annual Tax on Enveloped Dwellings (ATED)
Get In Touch
Get in touch with your local office and speak to one of our specialist agriculture accountants, to see how we can add value to your business. We also offer a free initial consultation to potential new clients.
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.
