In The Know: Farming Autumn 2017

Finally on the up?


Welcome to the latest edition of our farming newsletter. It’s been a pleasant summer catching up with clients and others, discussing, amongst other things, rising prices!

Whilst the Brexit debate hardly seems to have moved on, the devaluation of the pound, by over 20% since 2015 and back to levels seen post the 2008 financial crisis, has provided a boost to farm gate prices in all sectors.

Therefore, we are finally starting to see some increased profits on farms, although the last few years’ tough conditions will take some recovering from. We have already been using the new 5 year averaging
rules for farmers to generate tax refunds as the period covers the 2013/14 and 14/15 good years, the 2012/13 wet year and the last two poor years. Remember there are more ways to reduce your tax liability than just buying machinery!

The early election meant that much was missed out of the Finance Bill when it made its way through parliament, notably ‘Making Tax Digital’, but it seems it will be back, albeit after a delay.

In this issue we look at cloud accounting options to be ready for the switch in 2020. Also in this issue we look at capital gains mitigation, the latest dairy figures, and our Dodd Wealthcare team contribute an article on whole-of-life cover.

We hope that you find it an interesting and informative read.

Please click here to read the newsletter in full. 

 

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