Latest Agriculture

Have you considered SME succession post-Budget?   For many business owners, their preferred exit from the family business is to pass it on to their children, for nil consideration. Particularly if the children work in the business. The recent Budget, however, signalled the Government’s intention to change the Business Relief Inheritance Tax rules w.e.f 6…

Do you know how Inheritance Tax on classic cars works?   To many a car enthusiast, a classic car is priceless and for tax purposes there are some useful exemptions for Capital Gains Tax (CGT) purposes where the car involved is considered to be a wasting asset.   H M Revenue & Customs have confirmed…

We share a behind the scenes glimpse into what we discussed at our recent Lunch & Learn with our tax experts!   Training is not only attending events or watching webinars. We make our training practical and share our experiences around the firm through our Lunch and Learn sessions.   Our most recent session starred…

Double Cab Pick Up Trucks Are To Be Treated As Cars The 2024 Autumn Budget has introduced a significant change for Double Cab Pick Up trucks (DCPUs).   Starting from April 2025, DCPUs with a payload of one tonne or more will be treated as company cars for tax purposes. This change will impact both…

In her first Budget, Rachel Reeves moved quickly over two key capital taxes for farmers. Although, I’m sure it won’t have escaped their attention.   Capital Gains Tax (CGT) The rate of CGT paid on the disposal of assets rises from 10% and 20% for basic and higher rate tax payers respectively, to 18% and…

The Autumn 2024 Budget has been a tough Budget for businesses, but it perhaps hasn’t provided too many surprises given the recent press announcements. Below we share our key takeaways for businesses…   Corporation Tax For those Limited Companies, there is confirmation of the main rate of Corporation Tax remaining at 25% for the duration…

The Fenland Rural England Prosperity Fund (REPF) is here to help business owners in Fenland looking to invest in a capital project.   How Does It Work? Eligible businesses can apply for a grant of up to £10,000 to support projects such as farm diversification, building projects, new equipment, and more. This initiative, funded by…

As accountants, we may not be the first people you think about on this Back British Farming Day 2024, but as a local, market town firm in East Anglia we serve a range of farming clients from small tenant farmers to landowners of upwards of 1,000 acres.   Despite the range of farms and variances…

Extended support for Farmers is available through incentives and changes to planning laws.   The government has today published details of the expanded SFI offering for 2024. As expected, the offering now includes actions for precision farming and agroforestry and support for upland farmers, short term tenant Farmers and new entrants. There are now 102…

More water management funding for farmers has been introduced. Last month the government announced The Farming Recovery Fund to support farmers affected by winter and spring flooding. The fund offers grants of between £500 and £25,000 for farmers who have suffered uninsurable damage as a result.   On the 22nd April further funding was announced…