Farming

agricultural accounting specialists

Our experience in the agricultural sector is unrivalled in Shropshire, Staffordshire,  Herefordshire and across Wales. We act for more than 1000 farmers - predominantly across Shropshire and Mid-Wales, with some clients from much further afield who come to us because of our specific expertise in this industry.

Many of our agricultural team come from farming families themselves, and therefore understand the needs of the farmer. We regularly speak at seminars in the community dealing with topical issues relating to farming and the countryside.

As a firm we have developed links with other professionals in the agricultural sector including farm secretaries, NFU groups, Business Link, Chartered Surveyors, Solicitors etc, to offer advice and support from a position of knowledge.

In particular you’ll benefit from our experience in:

  •     Business planning
  •     Wealth issues - including wills
  •     Capital Tax planning
  •     General practical advice

Our approach to land-based business recognises their often unique circumstances, family/employee relationships, and the complexities of EU subsidies, grants and quotas.

Agriculture tends to be capital intensive, so the approach to funding is important. Considerations of succession and capital tax planning (both inheritance tax and capital gains tax) may be vital.

As well as the Partner responsible for looking after your business, you’ll have a dedicated manager and a team backed up by our tax experts on hand to advise on the more complex areas of tax planning affecting landowners.

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Latest Farming News

  • 27/09/18

    With the end of the EU Common Agricultural Policy in the UK imminent, the farming business has big change on the horizon. It is therefore a good time to review where you want your business to be in the future, and how you are going to get there.

  • Stamp duty cut
    24/09/18

    According to the latest statistics 121,500 first-time buyers have saved a total of £284,000,000 following the introduction of a relief for first-time buyers under the Stamp Duty Land Tax rules which apply in England and Northern Ireland.

  • Is it a car – or is it a van?
    26/06/18

    In terms of tax, providing employees with a vehicle which fits within the definition of a van, rather than a car, can be very worthwhile. This is equally relevant to company directors, who are also treated as company employees. A recent tax case sheds interesting light on how cars and vans are defined for income tax purposes.

  • 18/06/18

    It is now over a year since the government introduced the new trading and property allowances (TAPAs); but what exactly are they and how could you benefit from them? Whittingham Riddell’s Tax Director, James Clark, explains more.

  • Cloud Accounting for your farm?
    06/06/18

    Accounting for the farming sector can be complicated, as it is one of the most unique and varied industry sectors. More so than most businesses, they may experience factors beyond control that can affect finances. At Whittingham Riddell, we recommend our clients get ahead of their finances with proper financial planning and management for those factors that may be controlled.

  • 13/03/18

    We take a look at Individual savings accounts and Marriage allowance…

  • Inheritance Tax online
    12/03/18

    HMRC have begun providing an online form to help executors in England and Wales who wish to notify them of the value of an estate.

  • Paying dividends
    09/03/18

    Company law (s830 Companies Act 2006) says that a company is only entitled to make distributions out of profits available for the purpose. It defines this as accumulated realised profits minus accumulated realised losses. The Act also requires that a dividend is supported by relevant accounts demonstrating that profits are available for distribution.

  • Tax on acquiring property in Wales
    08/03/18

    From April, the Welsh Government and the National Assembly for Wales take on responsibility for some taxes paid in Wales, and property acquisition is one major area of change. Stamp Duty Land Tax (SDLT) is replaced by Land Transaction Tax (LTT) in Wales from 1 April 2018.

  • Merry Christmas
    15/12/17

    Wishing you a Merry Christmas and a prosperous New Year from all at Whittingham Riddell