Owning a farm or a landed estate means so much more than simply running a business. To our clients, it is also a lifestyle and a family home.
We understand this and work to enhance the current performance of your farm or estate whilst also protecting its future, ensuring it can be handed down through your family’s generations.
The agricultural sector is constantly evolving and diversifying and with this comes an increasing number of challenges. Our team’s industry knowledge and understanding of local issues will effectively work through these challenges, providing you with high level financial management and tax planning advice.
We currently work with:
- Livestock, arable and dairy farmers
- Tenant farmers
- Landowners, including those who let their land
- Diversified farms – caravanning and camping, holiday cottage rentals, horse livery, ice cream sales and converted farm buildings
- Owners and managers of fishing rights on the River Beauly, Invernesshire
We can assist with:
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- Preparation of farm accounts and tax returns
- Advising on a suitable trading structure, including restructuring
- Incorporation of your farm as a limited company
- Raising finance, investment decisions and diversification
- Business plans, budgeting, cash flow and profit forecasts
- Loan arrangements
- Property transactions
- Land acquisitions
- Timing of capital expenditure to maximise tax relief opportunities, particularly in respect of Capital Allowances and Annual Investment Allowances (increased to £250,000 until 1st January 2015)
- Advice on the use of the ‘herd basis of accounting’ and ‘farmers averaging profits’, to maximise income tax opportunities
- Inheritance tax and succession planning
- Capital gains tax advice in relation to land sales
- Claiming Capital Allowances in relation to equipment or machinery purchases
- Wealth protection via trusts
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