Latest Agriculture

In the Chancellor’s Budget on 27 October 2021 it was announced that the planned date for reducing the Annual Investment Allowance limit from £1m to £200k is being extended from 1 January 2022 to 31 March 2023. This will effect businesses who are planning on investing more than £200k in plant and machinery from January…

The chance to take advantage of the generous temporary uplift in the AIA annual limit of £1,000,000 is coming to an end when it is due to revert to £200,000 from 1 January 2022.   It is a perfect time to plan to capitalise on claiming 100% tax relief on qualifying purchases without getting caught…

As we move towards the end of the Single Farm Payment and the introduction of the Environmental Land Management Scheme the possibilities for the development of a soil carbon market is attracting attention. Standardisation in the measurement of volumes and permanence of carbon sequestered is badly needed but it is reported that some methods suggest…

We are pleased to announce that our Annual Farming Seminar this year will be held virtually, on 3rd November 2021 at 10.30am.   This is in collaboration with Sebastien Mallet, CEO of ODA UK. Agenda 10-30   Welcome from Chairman, Andrew Band 10-45   Sebastien Mallet, ODA – UK & World grain and oilseeds price perspective for…

In 2019 the first tier tribunal ruled in a case concerning a grain store that the entire structure qualified as plant and consequently gave rise to a capital allowance claim, by reason of it being a silo. As a consequences of this decision there have been a number of claims for capital allowances both in…

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…

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…

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…

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…

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