Latest Agriculture

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:

• Article in British Farmer & Grower Magazine

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

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.

BREXIT: Initially a silver lining for farmers? Since the BREXIT vote the value of Sterling has weakened, such that the average exchange rate for the Basic Payment Scheme has been set at €1 : £0.85228. For those farm enterprises electing to receive this in Sterling, this is some 16% better than last year. Given the…

Tenant Farmers: Is the rent for your land too high? Low commodity prices blighting British agriculture may offer some respite to Agricultural Holdings Act tenants. Rather than landlords pressing for higher rents there may be opportunities for tenants to seek downward rent reviews. Professional advice should be considered. For those locked into farm business tenancies,…

Farmplan Cloud Offering: Keeping your data secure. Keeping your data safe and secure is essential for any business, however for many of us we also want to share our data with our consultants, accountants and within the business itself which can pose a problem with the existing systems we have in place. For Farmplan software…

IT Savvy Farmers: AF Online Link helps automate book-keeping. Do you have an account with the buying group Anglia Farmers Ltd? Are you tired of entering invoices manually into your accounting software? Anglia Farmers have an online link called ‘AF Interactive’. Throughout the month Anglia Farmers publish their members invoices to this online portal. During…

Whitings’ 5th Annual  Agri-Seminar: “No” to Brexit We have just held our 5th annual Prospects for UK Agriculture seminar. Once again our guest speakers from Andersons expertly presented the current topics impacting on UK farming businesses. It was great to also have as many guests join us to listen to what the speakers had to…

HMRC: Roll-over on farm cottages. Are farm cottages owned by a farming company and occupied by farm workers business property for capital gains tax roll-over relief purposes? It was held in the case of Anderton v Lamb that property occupied by partners in a farming partnership were not. In order to qualify for relief, farm…

Green Finance: Santander now lending on energy efficient CapEx. Santander, through their partners Macquarie Equipment Finance, have recently announced that they will lend on the following energy efficient asset purchases: Batteries/storage Biomass Boilers Boilers (condensing/gas) Building Management Systems CHP systems Energy Efficient Lighting (LED) Gas turbines Heating/ventilation air conditioning systems Metering Power factor correction Roof ventilation Solar…