CLA welcomes Chancellor’s increase of Annual Investment Allowance for machinery
CLA President Harry Cotterell said: “This means farmers will be able to claim 100 percent capital allowances against their earnings on up to a quarter of a million pounds of equipment a year, for the two years from January 2013. This could kick-start investment in farm machinery, renewable energy projects and other diversified rural businesses.” […]
Agricultural expert warns that new self-storage VAT rules could catch out farmers
New rules introduced from October 1 saw 20% VAT charged on self-storage – the letting of space to a third party in which to store their own goods. Previously self-storage was exempt from VAT. Paul Laird, a partner at the High Wycombe firm, said: “On the face of it the new rules did not affect […]
The life blood of any business is cash
The season just finishing has been at best a challenge and at worst sole destroying. With ground unable to carry cattle forcing them to be housed early; poor quality and low yielding silage crops, and increased harvest costs compounded by low yields and poor quality. The tight global supply and demand forecast has raised cereal […]
‘Bootiful’ biogas!
ECF and Bernard Matthews are both based in picturesque, East Anglia – known for its unique turkey heritage. The new plant will be located close to Bernard Matthews’ existing processing site in Holton, Suffolk, and will utilise biogas, to generate electricity for the processing plant solely from waste matter. ECF is becoming well known for […]
Huge Tax Liabilities on the Horizon
“One of the consequences of the tax system is that changes are often announced long before the effects make themselves felt; this is particularly pronounced for the self-employed,” said David. The reduction in Annual Investment Allowance (AIA) which was announced in the 2011 Budget will only really make itself felt in January 2014. At the […]
English farmland beats economic gloom
Key findings English farmland prices rose on average by 3.7% in the second three months of 2012. This takes 12-month growth to 2.3% following a marginal increase in the first quarter of the year and a drop of 2% in the second half of 2011. The average value of agricultural land is now £6,295/acre. This […]
Crown Estate announces record profits
The Crown Estate earned a net profit (income surplus) of £240.2 million in the year ending 31 March 2012, up 4% on the previous year. This marks another record return for the business, which pays its profit to the Treasury for the benefit of the nation’s finances. For the first time The Crown Estate’s total […]
UK farmers’ lack of succession planning putting future success of business at risk
The research by Barclays also reveals that a quarter of those without a plan admit that it was because they simply had not thought about it. A further one in four (27 per cent) claim they do not have anybody to leave their farm to and 16 per cent believe they do not need […]
Help for farms to get £25,000 funding
The Farming and Forestry Improvement Scheme (FFIS) grants, which were announced on 21st May, are being offered by the government to help farmers and foresters to cut their costs and improve the environmental performance of their operations. But applying can be time consuming, and Defra will only consider applications that are completed correctly. So not-for-profit […]
