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How does the Autumn Budget affect my farming business?

Following Rishi Sunak's Budget announcements, Keith Johnston analyses how they might impact farming businesses

Succession – ‘It’s about being honest and looking at it step by step’

For many, the subject of succession can be a difficult one to approach, but it doesn’t need to be. Ulverston farmer, Will Case, shares his story.

Proposed changes to accounting dates could leave some farmers facing higher tax bills

Agricultural Accountants, Armstrong Watson, is warning that farming businesses could see significant changes to the way they are taxed and may face higher tax bills than expected if a proposed reform is implemented.

Potato store tribunal highlights complexities of capital allowances for farmers

A recent tax tribunal concerning a potato store, emphasises the complexity involved when claiming tax relief on farm buildings.

Tax problems with farm cottages

It is commonplace for farming families to have a complicated property ownership history. This can result in a position where not everybody knows who owns a particular property and for family members to be living in houses owned by someone else. It worth then considering the tax consequences that can arise.

Protect your company’s financial stability in times of uncertainty

During the pandemic the Government has provided support in the form of loan schemes. Although these loans are underwritten by the Government, in the event of a business failure resulting from the demise of a director, the debt will be repaid from business assets, potentially putting the business under financial pressure...

Farming survey highlights focus is needed on planning for the future 

A number of potential risks to agricultural businesses have been highlighted in a recent survey by the Rural Agriculture Group (RAG UK).  

Armstrong Watson’s respondents, from across the north of England and Scotland who run livestock, dairy and arable farms, highlighted the future of subsidies among their top three challenges, which also included climate change and the environment as well as cashflow.   

The life of a #farmingaccountant

When Andrew is not helping his farming clients with solutions to their problems, he is either working among a herd of pedigree Luing cows or tending to his prize-winning dahlias - not to mention spending time with his family. Andrew Robinson features in the new Cumbria Farmer Review magazine and this is his story.

Tax issues for farmers who diversify into holiday lets 

The demand for self-catering holidays is only growing but what are the tax issues that arise from diversifying into holiday letting?

Survey highlights concerns over changes to subsidies and focus needed on planning for the future 

More than a third of farmers fear their businesses will no longer be viable as a result of the changes to subsidies and direct payments.    

Our initial findings from the soon-to-be-released RAG Farming Survey showed that while these businesses said they had planned for the changes, they were unsure if they would be able to carry on.