Finance

The Central Association of Agricultural Valuers (CAAV) has strongly opposed a proposal that would restrict Agricultural Property Relief (APR) on tenanted land to land let for at least eight years.

Discussions have begun around increasing levy rates from April 2024 as AHDB claims the board’s spending power has been significantly reduced by inflation and rising costs, limiting its ability to deliver valuable services to the agriculture sector.

Over £30 million has been made available to farmers and foresters for equipment and technology under the Productivity and Slurry budget.

Latest research from NFU Mutual has shown farmers and other agricultural workers are more likely to be proactive in the face of current economic challenges such as high inflation by seeking financial advice and exploring investment opportunities.

Farm buyers are now eligible to claim delinked payments on recently purchased land, provided they made a valid BPS claim in 2023, the latest guidance from Defra has revealed.

In times of high volatility in the finance market, Mark Ashbridge of finance solutions firm Ashbridge Partners believes there are still opportunities to be had for farmers wishing to expand their business, and even suggested that raising debt in an inflationary environment can be, on the long term, really quite productive.

With biodiversity net gain (BNG) and woodland carbon units (WCU) utilised by more and more farm businesses to generate additional income, Gavin Birchall, tax advisory partner at Scrutton Bland, shared expert advice on the various tax implications of green farming in 2023.

The Agriculture and Horticulture Development Board (AHDB) confirmed it has achieved the target of reducing operational costs by £7.8m by the end of the 2022/23 tax year, saving a total of £8.5m in a bid to offer better value for levy payers.

Rural land and property specialists GSC Grays believe some farms could be better off under the Sustainable Farming Incentive (SFI) scheme and urged farmers to consider transitioning to a regenerative farming system.

Nearly three-quarters of off-gas grid rural homeowners are expected to fall into fuel poverty as a result of the government’s proposed 2026 fossil fuel boiler ban, with 69% of households unable to afford a replacement electric heating system, new rural polling data has shown.

The farming industry has welcomed extensions on the Energy Price Guarantee and fuel duty freeze in Chancellor Hunt’s spring budget announcement on 15th March, while the lack of action on frozen tax thresholds and green incentives has been labelled a ‘missed opportunity’.

As the year end approaches, Anne Cianchi, product manager at Farmplan, the UK’s leading agricultural software specialists, shares some timely advice on how farmers can manage their money in uncertain times.