Farming & Agriculture Sector
We have experience of acting for many agricultural clients advising on key issues affecting owners, their businesses and families. As well as dealing with all of your annual accounting and taxation requirements, we also help families with long-term planning and succession issues.
There are many sector specific taxation rules and regulations that affect agricultural businesses. Our team are well placed to deal with these on your behalf, as well as provide sound commercial advice.
We take a proactive approach with clients offering strategic advice based on our leading-edge knowledge of the industry, and the latest developments in regulation and legislation.
Hi, we’re Phil & Trevor the Farming & Agriculture
sector experts here at Burgis & Bullock
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for Farming & Agriculture Sector
With our experience and sector knowledge we will add value to your farm or agricultural business and work with you to achieve your business and personal goals.
Using the correct structure will always help but there are more industry specific issues to address that affect your annual tax liabilities. Through working in the sector, we have expert knowledge of these, which we use for our clients’ benefit to reduce their tax burden.
These areas include:
- Equipment purchases including timing of acquisitions to maximise relief
- Tax related issues concerning farmhouses and their running costs
- Livestock ‘herd basis’ tax elections and tax efficient stock valuations
- VAT advice, including advice on VAT partial exemption
- Advising on employee accommodation issues
The structures used to conduct business will impact on the capital taxes position of the owner. To reduce the impact following a death or the sale of property, it is important to know what reliefs are available to you, which ones you are eligible for and, importantly, those that you could claim. Our team will ensure you are in the most beneficial tax position.
Areas where we regularly help include:
- The specialist areas of inheritance tax, agricultural and business property relief
- Capital gains tax planning, including Business Asset Disposal relief (formerly known as Entrepreneur’s Relief).
- Tax efficient structures for businesses, including diversification projects
- Stamp duty and land taxes
- Trusts advice and compliance
Commercial considerations are vital if your venture is to be successful. A well thought out and documented business plan not only helps you to consider your investment of time and funds in your business venture.
Typical areas where we help include:
- Farm succession, planning for retirement and family wealth protection and maximising available reliefs
- Strategic business and tax advice
- Business structures and restructuring
- Advice on accounting software; including Cloud Accounting and Making Tax Digital compliance
- Financing, budgeting & cash flow
- Management reporting and financial analysis
- Financial Planning advice on pensions and investments
There are lots of ways we can help, take a look at all of our services
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