A new report analysing information from the recent Farm Business Survey outlines the key factors which separate high and low performers in the farming industry. The report, prepared by some of the industry’s major organisations, including Hibu Cyg Cymru, suggests that the top performing 25% of farming businesses in the UK could make a profit, … Continue reading How to Make Your Farm a Top Performer
If your farm is operating as a family business, you might think it unnecessary to have a formal partnership agreement, but disputes and broken family relationships can result where misconceptions arise over ownership of assets. It is not uncommon for the distinction between business assets and personal assets to become blurred over the years, and … Continue reading Do You Have a Formal Partnership Agreement in Place?
The Farming Connect Advisory Service aims to provide expert, independent, confidential and bespoke advice to Farm and Forestry businesses. Through consultation with approved providers, farmers can address problems or make improvements on their farms, which can include, amongst other things, business planning advice, livestock management and performance, or grassland, crop and woodland management. When receiving … Continue reading Advisory Service Aims to Connect Farmers to the Professionals They Need
A new online calculator has been launched to allow farmers to see the potential effect on their businesses of various Brexit scenarios. Developed by The Agricultural and Horticultural Development Board, its aim is to help farmers and growers review their business and remain fit for the future. The calculator allows individuals to input their data … Continue reading New Calculator to Help Farmers Foretell the Future
Further to our blog in April regarding the Farm Business Grant Scheme, the Welsh Government will be opening the second window for those to apply for the scheme this month. As last time, the window will be open for two months, with a total of £40m funding available over the course of the scheme running, … Continue reading Second Window for Farm Business Grant Scheme
The Tesco Future Farmer Foundation is looking for young people in UK & Irish farming who are keen to develop a successful future in agriculture. Running from 19 June until 29 September 2017, the programme is available for those aged between 20 and 35 from all farming sectors, and aims to help in four particular … Continue reading Apply Now For Tesco Future Farmer Foundation
A recent survey undertaken by YouGov reveals that farming businesses feel that they are not getting sufficient support from their banks. Over 1,000 small and medium farming businesses took part in the survey, with over 30% stating they would like to see more commitment to the agricultural industry from banks. One of the biggest concerns … Continue reading Farmers and Banks – a Relationship on the Rocks?
Dairy farmers in Wales have until this Friday to apply for an aid scheme worth £1,800. The EU Conditional Aid Scheme is only open to dairy farmers in Wales and, specifically, those that were in milk production with a supply contract on 1 January 2016. To qualify before the deadline at midnight on Friday 30 June, producers need to … Continue reading Last Chance for Welsh Dairy Farmers
You can claim tax relief, known as capital allowances, for plant and machinery that you keep to use in your business. Assuming all criteria are met, the cost of items such as tools, equipment, desks and computers can be offset against profits in the year in which they are incurred. This is subject to the annual … Continue reading Tax Allowances for Caravans Used in the Business
There has always been uncertainty over whether a landowner is a farmer or a landlord for tax purposes. There has however, been a recent useful decision by the First Tier Tribunal in the case of John Carlisle Allen which has helped to clarify the capital gains tax position (and the valuable entrepreneurs relief/rollover relief ) … Continue reading Are you a farmer or a landlord?