Owning a farm or landed estate means much more than simply running a business. To our agriculture clients, it’s a lifestyle and a family home.

Agriculture

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, Inverness

We can assist with:

  • 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
  • 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

SPEAK TO AN EXPERT

Nathan Jones
Nathan Jones
Client Relationship Manager
Paulette Thomas
Paulette Thomas
Head of Tax
Debbie Thorn
Debbie Thorn
Audit Partner

WHAT OUR CLIENTS SAY...

“We like to be innovative with our approach to agriculture, so we sought out an accounting partner who could help us achieve that vision. Champion has met this remit for many years but more recently, surpassed our expectations when it supported us on an R&D claim. We hadn’t claimed any funding or grants during a major phase of product development on our farm, but Champion informed us that we met various criteria to receive cash in return for our work. Champion made the whole process easy, and identified almost £75,000 worth of R&D investment and claimed back £18,475 in tax, which we are now able to reinvest back into our dairy farm, our animals and further product development.”

David Edge, MD at D J Edge & Partners

For more information about how champion accountants can help,

Contact your local champion office today.