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By Andrew Robinson

11th April 2023

Careful timing needed to claim capital allowances for assets on hire purchase

When buying farm machinery on hire purchase, care needs to be taken with the timing. Once the asset is brought into use for the purposes of the trade, you are treated as having incurred all the capital expenditure even though you will be paying off the finance over several years. 

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By Armstrong Watson

6th April 2023

David Threlkeld: from rural roots to accounting expertise

Armstrong Watson's David Threlkeld joined the firm as a trainee accountant at the age of 20. Now an agricultural accounting partner working with a large portfolio of farming businesses, he looks back on his career spanning almost three decades.

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Cows Grazing

By Rodger Hill

5th April 2023

Reminder that new penalty regime for VAT will hit farmers

Farmers who submit late VAT returns or miss their payment deadlines could now be fined £200.

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By Keith Johnston

23rd March 2023

The Budget 2023 –  changes to tax relief of capital expenditure

While there was little of real interest for farmers in the Spring Budget, there was a big announcement regarding tax relief known as “full expensing”, which will offer some businesses more tax relief when purchasing machinery and equipment.

To replace the super deduction tax relief, companies will be able to claim 100% relief on qualifying capital expenditure, such as IT equipment and plant and machinery, without any cap for the next 3 years. 

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By Jonathan York

15th February 2023

You might be entitled to Business Asset Disposal Relief when selling your farm business

If you are considering selling part or all of your farming business you may be able to pay less Capital Gains Tax (CGT) if you qualify for Business Asset Disposal Relief (BADR). 

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By Keith Johnston

15th February 2023

Stamp Duty Land Tax when buying farm property

The calculation of Stamp Duty Land Tax (SDLT) when buying additional farm property can be extremely complicated and where the purchase includes a residential property a number of issues can arise. 

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By Andrew Robinson

15th February 2023

How Basic Payment Scheme payments can impact your tax bill

While it can be complicated, there are two accounting policies for the recognition of BPS payments for tax purposes.

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By Armstrong Watson

9th February 2023

Armstrong Watson supports vital work of farming mental health and safety charity Yellow Wellies

Armstrong Watson has shown support for a charity that champions farm safety and mental health for the farming community.

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By Keith Johnston

9th February 2023

Basis Period Reform – what does it mean for my farm business

Farm businesses could face higher tax bills in 2025 as a result of changes being introduced by HMRC.

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By David Threlkeld

25th January 2023

Do I still have the correct structure for my business?

In light of recent tax changes, it might be worth considering whether a partnership or company is the most suitable way to operate your farm business.

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