ICAEW.com works better with JavaScript enabled.

Farming & Rural Business Community practical perspectives

A collection of practical perspectives, exclusive to Farming & Rural Business Community subscribers.

Join the Community

Join the Farming & Rural Business Community and get access to premium content.

Find out more

These practical perspectives are only available to Farming & Rural Business Community members. Log in or find out how to join the Community.

Tax credits in the family farming finances

This is exclusive item - please log in or subscribe to view this item.

Tax credits can provide a welcome financial boost for families on low incomes, which could well include farmers whose profits have taken a knock in the recession. Issued in 2018.

Renewables

This is exclusive item - please log in or subscribe to view this item.

Practical perspectives on the taxation of renewable energy sources in the farming community. Issued in June 2018.

Agricultural waste - a duty of care

This is exclusive item - please log in or subscribe to view this item.

This practical perspective outlines the current agricultural waste regulations and highlights some of the complexities of managing various types of farm waste, as well as guidelines on correct handling to avoid penalties.

Accounting for exchange rates on euro loans and Basic Payment Scheme (BPS)

This is exclusive item - please log in or subscribe to view this item.

Since Basic Payment Scheme (BPS), previously Single Farm Payments (SFPs), can be paid in euros, this means that some farming clients will have transactions and balances in currencies other than sterling. This practical perspective recaps our accounting treatment of foreign currency transactions.

Herd basis

This is exclusive item - please log in or subscribe to view this item.

For many years, farmers have had the option of putting productive herds onto what is known as the herd basis and treating these as a long term capital asset rather than part of their trading stock.

Contract farming

This is exclusive item - please log in or subscribe to view this item.

The term ‘contract farming’ covers a multitude of arrangements, ranging from relatively informal labour or machinery sharing between neighbours up to sophisticated arrangements, the implications of which need to be considered from both economic and fiscal perspectives. Issued May 2014.

Points to consider on a change in partnership

This is exclusive item - please log in or subscribe to view this item.

This checklist is intended to enable practitioners to ensure that their clients deal with the many loose ends that may arise with a partnership change. Inevitably it cannot address all the issues as each partnership is unique, but it should provide a framework for you to follow. Issued January 2014.

VAT on approved alterations to listed buildings

This is exclusive item - please log in or subscribe to view this item.

From 01 October 2012 approved alterations to listed buildings have been subject to VAT at the standard rate. These were formally zero-rated. The change has no affect on repairs and maintenance which, in line with work on non-listed buildings, has always been standard-rated. Issued June 2013.

Farmhouses - accounting and income tax issues

This is exclusive item - please log in or subscribe to view this item.

Farmhouses have always been somewhat problematic from an accounting and taxation perspective. Historically, the farmhouse enjoyed a favoured tax status with up to one-third of the expenses being allowable for tax purposes. Issued May 2010.