After the recent confirmed case of Avian Influenza in Pontyberem, Carmarthenshire, NFU Cymru is reminding everyone keeping poultry, no matter the size of their flock, to remain vigilant. There is a prevention zone across all of Wales which requires all keepers of poultry and other captive birds to keep them indoors, or at least to … Continue reading Avian Flu Prevention Zone Consumes All of Wales
Agricultural Property Relief (APR), if obtained, allows an individual to pass on agricultural property, either in their Will or during their lifetime, free of Inheritance Tax (IHT). Business Property Relief (BPR) reduces the IHT payable on a wider class of qualifying business assets when they are left in a Will or passed on during lifetime. … Continue reading Your Redundant Farm Building could be Restricting your Inheritance Tax Relief
Certain plant and machinery can qualify for what’s known as Annual Investment Allowance (AIA), which allows businesses to claim for the cost of the new asset (up the specified threshold) in the year of purchase. The current Annual Investment Allowance is £200,000 (in the year to 31 December 2015 the limit was £500,000) and it’s … Continue reading Tax Allowances on the Farm
Whilst farming has its own key fields in which farmers and farm managers must succeed to eke out a profit, the importance of the “numbers” can often be misunderstood or forgotten about completely. With the Brexit decision leaving many farmers wondering where the next subsidy is going to come from, cost analysis and performance monitoring … Continue reading Farmers – Analysis Breeds Performance.
Rural thieves are putting down their bolt cutters and turning to their computers to steal from farmers, according to new statistics. Criminals are becoming increasingly sophisticated in how they operate and new tactics include cloning tractor identities, stealing GPS computer systems and even using Google Earth to highlight weak points in the perimeter to steal … Continue reading Farmers Still Being Targeted
New regulations which affect landlords in Wales may also have implications for tenant farmers who sub-let dwelling houses. The Rent Smart Wales scheme was introduced by the Welsh Assembly with a view to improving the quality and standards of Welsh housing in the rental sector. The legislation comes into force in November 2016, by which time all … Continue reading Tenant Farmers – Are You Sub-Letting?
In conjunction with National Countryside Week, a new support scheme for small farms has been launched by The Prince of Wales. The Prince’s Farm Resilience Scheme has been developed in response to the vulnerability of small farms in the UK, many of which are under threat due to the current volatility of the industry. The … Continue reading New Farm Resilience Scheme Launched
With effect from April 2017 farmers will be able to choose their water supplier (and also the sewage service provider) in much the same way that they can currently decide on a different energy provider. However this change only applies to business not domestic customers and also those businesses must be situated in England. This … Continue reading Water Market Reforms
Incapacity can have a devastating effect on the viability of a farming business, if it is the main decision-maker who becomes ill. This is particularly true if they are diagnosed with dementia or a similar mental illness. However, you can ensure your farm will continue to run smoothly if you do become ill, by setting … Continue reading Protecting Your Farm With A Power Of Attorney
Both Defra and the Welsh Government have announced plans to abolish Water Abstraction Licences and replace them with Water Abstraction Permits in the early 2020’s.The current licencing system was initially set up in the 1960’s and has been described as not flexible or modern enough to cope with the needs of various stakeholders, such as … Continue reading Water Abstraction License Reforms