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BUSINESS CLINIC

Business Clinic: Should we undo inheritance plans?

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Harriet Neusinger, a partner in Thrings’ succession and tax team, advises on the…

BUSINESS CLINIC

Business Clinic: Tax advice on sheds let for commercial use

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Kate Bell, a partner with accountant Albert Goodman, explains the many tax…

TAX

Advice on keeping accurate accounts to pay the right tax

Efficient bookkeeping is fundamental to producing timely and accurate accounts for both tax and management purposes. Many arable farmers have March year ends and are likely to drop out of…

BUSINESS CLINIC

Business Clinic: Reclaiming VAT on private and business use

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Kate Bell, a partner with accountant Albert Goodman, explains how to approach…

TAX

How to maximise capital allowances on farm buildings

Farms could be paying more tax than necessary by overlooking or wrongly applying the structures and buildings allowance (SBA), say advisers. This is a capital allowance (CA) of 3% a…

TAX

IHT relief cut puts focus on correct valuations

The proposed cut in inheritance tax (IHT) relief means that there may be closer scrutiny of valuations for probate under the forthcoming regime. Qualifying farmland, buildings and dwellings are currently…

TAX

IHT pitfalls on timing of asset transfers - what to consider

Under changes to the inheritance tax (IHT) regime from April next year, each individual’s estate will have 100% agricultural property relief (APR) or business property relief (BPR), or a combination…

BUSINESS CLINIC

Business Clinic: Should our dairy business stay as partnership?

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Kate Bell, a partner with accountant Albert Goodman sets out considerations on…

TAX

Court ruling raises need to consider divorce in IHT planning

A recent Supreme Court judgment on the division of assets in a “big money” divorce has been hailed by the legal and accountancy professions as a landmark ruling. While it…

TAX

How IHT exemption for significant heritage property works

The possibility of an exemption from inheritance tax (IHT) on the grounds that land or buildings are of heritage significance has attracted a lot of media attention in the past…

TAX

IHT changes ahead - further options to reduce tax liability

The recent publication of the draft Finance Bill confirmed almost entirely what the Budget set out on reforms to the inheritance tax (IHT) regime for farming and business assets. Nevertheless,…

BUSINESS CLINIC

Business Clinic: Should I register small scale start-up farm for...

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Kate Bell of accountant Albert Goodman explains the pros and cons of VAT…

Insights

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TAX

Budget analysis: IHT concession but added taxes elsewhere

Chancellor Rachel Reeves’s 26 November Budget made the £1m inheritance tax (IHT) allowance on qualifying assets transferable between spouses and civil partners. This brings the rules for this allowance in…

TAX

IHT net set to catch farm pension funds – what to consider

As well as cutting valuable agricultural reliefs from inheritance tax, the Budget held an extra shock by bringing personal pensions into the IHT net. Many farmers have contributed to personal…

MARKETS AND TRENDS

Outlook 2025: Lower inflation offers hope for UK economy

The world is changing. It is not as safe a place to be as last year or over the past decade. International markets are nervous. Protectionism is on the rise.…

FARM POLICY

Analysis: Why the Treasury has it so wrong on impact of IHT

Fresh analysis from the NFU has set out exactly why the union believes Treasury claims that only about a quarter of farm businesses will ever be caught by its inheritance…

BUSINESS

How CLA figures dismiss government position on family farm IHT

Lobbying against the proposed cut to agricultural property relief (APR) and business property relief (BPR) is intensifying. Analysis by the Country Land Association (CLA) demonstrates the severe challenge that the…

BUSINESS MANAGEMENT

Advice on moving into contract farming agreements

Contract farming agreements (CFAs) offer a way to maintain the income and capital tax advantages of being a working farmer, while reducing the demands of day-to-day management and working capital…

BUSINESS

Budget measures open some tax doors but close others

Confirmation in the 6 March Budget that agricultural property relief from inheritance tax will be available on land in all Environmental Land Management (ELM) schemes has been generally welcomed, but…

TAX

APR restriction to minimum eight-year tenancy prompts clash

A Budget consultation on inheritance tax (IHT) calling for views on restricting agricultural property relief (APR) to tenancies of at least eight years has produced a wide range of views.…

BUSINESS

IHT: Farmers call for natural capital payment changes

Farm and rural leaders have set out their thoughts on how to tackle the inheritance tax risks which are acting as an obstacle to farmers entering more land into environmental…

BUSINESS MANAGEMENT

Company accounts reform: What it means for farm businesses

Farm businesses trading as a limited company are likely to be affected by reforms to the way they prepare and file their accounts. The government is pushing forward with plans…

BUSINESS

AD plant operators challenge business rates hike

A huge hike in business rates for anaerobic digester plants in England and Wales is being challenged by a growing number of operators and farmers. In the past 10 years…

POULTRY

The cash poultry farmers could be missing out on

Many poultry farmers are eligible for tax relief, often to the tune of tens of thousands of pounds, simply for developing innovative ways of working. Those don’t have to be…