A recent study by The Prince’s Countryside Fund (PCF) has suggested that the public’s view of the life of today’s farmers is a long way from the truth. Around 25% of those adults who took part in the study said that they found the idea of giving up their day jobs to go and work … Continue reading A Farmer’s Life – Through Rose-Coloured Glasses?
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?
The Welsh Government has recently launched a significant consultation Taking Forward Wales' Sustainable Management of Natural Resources. It represents a wide-ranging and radical series of ideas in agriculture, designated landscapes, access, water abstraction and drainage, forestry, regulation and more. See the document here. Rebecca Williams, CLA Cymru Director says, "Land owners, managers and farmers should focus … Continue reading Welsh Government Consultation
From 5am on 10 August to 5am on 11 August 2017, “24 hours in Farming” is back supported by FG Insight and Morrisons. The aim of the event is for UK Agriculture to “shout about the industry and why they are so proud to work within it” and to show consumers how much passion and … Continue reading 24 Hours In Farming
The Countryside Alliance has joined rural businesses and local councils in expressing concern over changes to business rates being proposed by the Valuation Office Agency (VOA) and the Government, with Welsh MP, Glynn Davies, even declaring there could be an “uprising” as a consequence of the proposals. The changes, expected to be implemented in the … Continue reading Concern For Rural Businesses Over Changes to Business Rates
It is very likely that at some point your farmhouse and other buildings used in the farming business will require refurbishment, and it is important to be aware that whereas some repair expenditure can be relieved in the year it’s incurred (subject to a disallowed proportion for private use of buildings), alterations and improvements cannot. … Continue reading Tax Relief for Farmhouse Renovations
The government has announced two reviews of the Groceries Code Adjudicator (GCA) which could pave the way for greater protection for farmers in the supply chain. Set up in 2013, the GCA was created to ensure retailers stuck to fair trade rules, and the first of the reviews will look into how effective the adjudicator … Continue reading Greater protection for farmers ahead?
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