Key farm facts
Exclusive
Key Farm Facts - November 2024
- Journal
- 25 Nov 2024
- PDF (112kb)
Monthly statistics including crop, milk and livestock prices, exchange rates and other useful information.
Exclusive
Key Farm Facts - October 2024
- Journal
- 28 Oct 2024
- PDF (112kb)
Monthly statistics including crop, milk and livestock prices, exchange rates and other useful information.
Exclusive
Key Farm Facts - September 2024
- Journal
- 25 Sep 2024
- PDF (112kb)
Monthly statistics including crop, milk and livestock prices, exchange rates and other useful information.
Exclusive
Key Farm Facts - August 2024
- Journal
- 27 Aug 2024
- PDF (112kb)
Monthly statistics including crop, milk and livestock prices, exchange rates and other useful information.
Practical perspectives
Exclusive helpsheets for accountants working in farming and rural business sector.
Exclusive
Contract farming
- Helpsheets and support
- 10 Jun 2020
- PDF (242kb)
The term contract farming has become ever more used in the farming industry as it covers a multitude of arrangements, ranging from relatively informal labour and machinery sharing arrangements between neighbouring farmers up to quite sophisticated whole farm arrangements. The cashflow, economic effect and the fiscal perspectives all need to be considered when looking at a contract farm arrangement. This help sheet will concentrate on the more sophisticated arrangement often referred to as Whole Farm Contracting (WFC) or stubble to stubble arrangements. Issued June 2020.
Exclusive
Farmhouses - accounting and tax issues
- Helpsheets and support
- 01 Nov 2019
- PDF (175kb)
Farmhouses have always been somewhat problematic from an accounting and taxation perspective. Historically, the farmhouse enjoyed a relatively favoured tax status. However, careful consideration is required in terms of the correct tax treatment. Issued in November 2019.
Exclusive
Points to consider on a change in partnership
- Helpsheets and support
- 14 Feb 2019
- PDF (201kb)
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.
Exclusive
Herd basis
- Helpsheets and support
- 14 Feb 2019
- PDF (193kb)
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.
Tax
Exclusive
More Budget news
- Article
- 08 Nov 2024
Behind the main Budget announcements, a few other matters of rural interest can be found.
Exclusive
Furnished holiday let reform – the last gasp from the March 2024 Budget!
- Article
- 07 Nov 2024
The recently published details of forthcoming reforms to the tax treatment of Furnished Holiday Lettings (FHL) income, which were initially announced in the 2024 Budget but omitted from the Finance Bill, signal significant changes effective from the end of the 2024/5 tax year. These reforms, which were announced on 30 July, were confirmed as part of the 2024 Budget package.
Exclusive
Further thoughts on the Halloween Budget
- Article
- 06 Nov 2024
Now that the dust has settled, at least temporarily, on the Autumn Budget, it is worth looking at the implications for those taxpayers who are likely to be affected.
Exclusive
Budget 2025 – what’s in it for agriculture?
- Article
- 06 Nov 2024
On the whole, Rachael Reeves first Budget has not been received well by the farming community. The NFU said “APR changes would put family farms at risk”, Victoria Vyvyan, president of the Country Land and Business Association, said the change was “nothing short of a betrayal” and the Guardian summarised that “farmers in England must do more with less”. In contrast, food security Minister Daniel Zeichner said: “our commitment to farmers and the vital role they play to feed our nation remains steadfast."
Diversification
Exclusive
Ten ways for farmers to diversify
- Article
- 25 Jul 2023
Diversification opportunities and resources for farmers keen to boost their income.
Producing a sustainable future for fell farming in Cumbria
- Article
- 11 Jan 2023
Meat processing company Lake District Farmers is leading by example when it comes to investing in sustainable farming practices. A project with Lancaster University looks to draw a clear line between sustainability and business success.
Industry guides
The ICAEW Library & Information Service has compiled a series of industry guides. You'll find a package of information on each sector, including links to market research reports, statistics, trade bodies and trade journals. The guides also provide details of key player reports, market reports and mailing lists which ICAEW members and ACA students can order through the website or by contacting our enquiry team.
Exclusive
Arable farming
- Research guide
- 18 Oct 2023
Guide to researching arable farming and crop agriculture. Quick links to trends, forecasts, market research, statistics, regulations and useful organisations.
Exclusive
Biomass industry
- Research guide
- 07 Nov 2022
Guide to researching the biomass industry. Quick links to trends, forecasts, market research, regulations, statistics and useful organisations.
Exclusive
Camping and caravanning industry
- Research guide
- 17 Nov 2022
Guide to researching the camping and caravanning industry. Quick links to trends, forecasts, market research, regulations, statistics and useful organisations.
Exclusive
Dairy farming
- Research guide
- 18 Oct 2023
Guide to researching dairy farming. Quick links to trends, forecasts, market research, regulations, statistics and useful organisations.
Exclusive
Equine industry
- Research guide
- 08 Dec 2020
Guide to researching the equine industry, looking at stables, horse farms and equestrian trades. Quick links to trends, forecasts, statistics, regulations and useful organisations.
Exclusive
Fishing industry
- Research guide
- 02 Sep 2020
Guide to researching the fishing industry. Quick links to trends, forecasts, market research, regulations, statistics and useful organisations.
Exclusive
Horticulture industry
- Research guide
- 01 Dec 2020
Guide to researching the horticulture, gardening and landscaping industries. Quick links to trends, forecasts, market research, regulations, statistics and useful organisations.
Exclusive
Livestock farming
- Research guide
- 18 Oct 2023
Guide to researching the livestock farming industry. Quick links to trends, forecasts, market research, regulations, statistics and useful organisations.
Market research
The ICAEW Library & Information Service provides access to industry profiles and market reports as a benefit of ICAEW membership. See our Industry guides for a more comprehensive selection of market research resources for the farming and rural business sector. If you are unable to access a report, please see our Online resources troubleshooting or contact library@icaew.com
Exclusive
Agricultural Products Industry Profile: All markets
- Article
- 01 Mar 2023
- MarketLine
Annual MarketLine agricultural products industry profiles for global markets, covering the market size, competitive landscape and forecast data for market performance.
Exclusive
Agricultural Products Industry Profile: United Kingdom
- Article
- 01 Feb 2023
- MarketLine
Annual MarketLine agricultural products industry profile covering the market size, competitive landscape and forecast data for market performance.
Exclusive
Dairy Industry Profile: United Kingdom
- Article
- 01 Feb 2022
- MarketLine
Annual MarketLine dairy industry profile covering the market size, competitive landscape and forecast data for market performance.
Terms of use: You are permitted to access articles subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.
Bloomsbury Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Bloomsbury Accounting and Tax Service.
Exclusive
Capital allowances
- eBook chapter
- 2024
- David Whiscombe
- Bloomsbury Professional
- Partnership Taxation
Chapter providing expert guidance on capital allowances in relation to partnership taxation.
Exclusive
Diversification - the reality
- eBook chapter
- 2024
- Julie Butler
- Bloomsbury Professional
- Tax Planning for Farm and Land Diversification
A chapter looking at the tax treatments available for various common farming diversification activities, including woodland and forestry, holiday businesses, caravans, renewable energy and stud farming.
Exclusive
Farming and the need for diversification
- eBook chapter
- 2024
- Julie Butler
- Bloomsbury Professional
- Tax Planning for Farm and Land Diversification
A chapter exploring the need for the farm adviser and tax planner to be aware of the tax differences between farming and diversification.
Exclusive
Tax planning for farm and land diversification (6th edition)
- eBook
- 2024
- Julie Butler
- Bloomsbury Professional
- Tax Planning for Farm and Land Diversification
Julie Butler explores the latest developments in the area of tax planning for farm and land diversification, including protecting the farm's assets, alternative land use, hobby and lifestyle farming, letting activity and divorce and farming.
Exclusive
Business profits
- eBook chapter
- 2024
- Lucy Webb
- Bloomsbury Professional
- Bloomsburys Tax Rates and Tables
Tax rates and tables for business profits, updated to reflect measures passed in the Finance (No 2) Act 2024. The chapter includes sections on MTD, cash basis, fixed rate deductions, averaging profits for farmers and artists, car hire costs, residential property lettings, time limits for claims and elections, lease premiums and SEISS.
Exclusive
Business property relief and agricultural property relief
- eBook chapter
- 2024
- Chris Erwood, Stephen Howe,Mark McLaughlin, Iris Wünschmann-Lyall
- Bloomsbury Professional
- Inheritance Tax
Practical guidance on business property relief and agricultural property relief for inheritance tax.
Exclusive
The Flat Rate Farmers' Scheme
- eBook chapter
- 2024
- Andrew Needham
- Bloomsbury Professional
- Value Added Tax
This chapter covers VAT in relation to the Flat Rate Farmers' Scheme.
Exclusive
Business and agricultural property relief and woodlands relief
- eBook chapter
- 2024
- Mark McLaughlin
- Bloomsbury Professional
- Tax Planning
A chapter on tax relief for agricultural property, highlighting tax planning opportunities and potential pitfalls.
Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.
eBooks
The ICAEW Library & Information Service provides a hand-picked collection of eBooks as a benefit of membership. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.
Exclusive
Agriculture
- eBook chapter
- 2022
- PKF International Ltd
- Wiley
Updated edition providing a detailed reference guide with practical examples, and IFRIC interpretations and directions. This chapter discusses IAS 41.
Exclusive
Agriculture
- eBook chapter
- 2021
- Ernst & Young LLP
- John Wiley & Sons
A global perspective on technical accounting issues with worked examples and illustrations from published financial reports of major listed companies from around the world. This chapter discusses IAS 41.
Exclusive
Farmland succession
- eBook chapter
- 2016
- Julie Butler
- Globe Law and Business Ltd.
A chapter on farmland succession planning in this guide for legal and financial experts in the private client sphere. Julie Butler considers tax reliefs, lifetime transfers and using capital gains tax (CGT) and inheritance tax (IHT) tax planning together.
Exclusive
Special classes of taxpayers
- eBook chapter
- 2024
- Malcolm James
- Spiramus
This chapter covers the schemes, reliefs and special rules pertaining to classes of taxpayers not covered elsewhere in this work. This includes the Construction Industry Scheme and rules for small businesses, charities, clubs and societies and various types of occupations.
Terms of use
You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.
Articles and books in the Library collection
The ICAEW Library & Information Service holds a print collection of over 45,000 books and around 160 current professional journals, including Taxation and Tax Adviser. For information on borrowing books from the Library please contact us or see our guide to book loans. You can obtain copies of articles or extracts of books and reports through our document supply service.
The taxation of small businesses, 2024-25
- Library book
- 2024
- M. James
- Spiramus
A practical, single-volume guide to all aspects of direct taxation of small businesses. The author clearly explains the relevant legislation, and offers practical advice on how to minimise clients' tax liabilities and avoid common pitfalls. This latest edition incorporates changes arising from the Finance Acts 2024.
Employment status: a tax guide, 5th ed.
- Library book
- 2024
- D. Kirk
- Claritax Books
This book guides the reader through the extensive and apparently contradictory case law on employment status. The special cases section includes information on the entertainment, sport and media sector, the farming sector, the legal sector, and healthcare professionals.
Butler's equine tax planning
- Library book
- 2021
- J.Butler
- Law Brief Publishing
This guide examines all the important tax issues relating to equestrian matters. A comprehensive range of equestrian industries are covered, from stud farms, competition yards and liveries to individuals specialising in polo, eventing, dressage and racing.
Agricultural valuations: a practical guide
- Library book
- 2021
- J.Moody
- Routledge
This book covers all the relevant techniques and legislation necessary to correctly value farms, assess farm rents, carry out arbitrations, inventories and records of condition, including valuation clauses on sales of farms, livestock, soils, management agreements and valuation in court proceedings.
Agricultural budgeting and costing book, The
- Library book
- 2020
- Agro Business Consultants
- Agro Business Consultants
Includes information on gross margins, alternative enterprises, government schemes, farming sector taxation, legislation, market indices and trends, as well as sections on tourism and leisure income and on alternative enterprises, including alternative crops, vineyards, renewable energy and woodland. Known as "The Green Book".
A practical guide to the law of farming partnerships
- Library book
- 2020
- P.Whitcomb
- Law Brief Publishing
An overview of the main issues, nuances and complexities of a farming partnership, with practical examples.
Taxation of rural dwellings
- Library book
- 2018
- Central Association of Agricultural Valuers
- Central Association of Agricultural Valuers
This book reviews the main taxes applying to farm dwellings, considering the legal and valuation issues that may arise and summarising relevant tax cases.
Tax planning for farm and land diversification
- Library book
- 2018
- J.Butler
- Bloomsbury Professional
Book covering developments in the area of tax planning for farm and land diversification, in particular regarding subsidies, property development and Brexit-led implications, as well as probate preparation and disputes.
Useful links
AHDB Consumer Insights Reports
- Website
- Agriculture and Horticulture Development Board (AHDB)
AHDB has published reports identifying opportunities to export British foods to the following countries: Country Focus: Canada, Country Focus: China, Country Focus: Japan, Country Focus: USA and Country Focus: Vietnam. There are also special reports available on Exploring Asia: Understanding consumer needs and International Consumer Buying Behaviour.
Andersons Outlook
- Website
- The Andersons Centre
Annual analysis of UK farming, published by The Andersons Centre farm business consultants, covering subjects including prices and rents, banking, Brexit, labour and farming profitability prospects.
Farm Business Survey
- Website
- Department for Environment, Food & Rural Affairs
Annual survey commissioned by the government, collecting a range of management accounting information on all aspects of farmers and growers businesses in England. The website includes farm benchmarking projections and gross margins, profitability, balance sheet and performance ratio comparisons.
Farm stocktaking valuations
- Website
- Royal Institution of Chartered Surveyors
Guidance note on issues that arise in farm stocktaking valuations, for inclusion in financial statements prepared in accordance with UK GAAP.
Farming Investment Fund
- Website
- GOV.UK
Information on government funding grants for farmers, foresters, growers and contractors investing in new technology.
Intelligence reports
- Website
- Rural Business Research
These twice yearly reports provide information on what is happening on farms and local markets, with a summary of current attitudes and concerns. Annual Farm Business Surveys are also available, providing data on English farming sectors including crop production, dairy farming, hill farming, horticulture production, lowland grazing, pig production, poultry production and organic farming.
Markets and prices
- Website
- Agriculture and Horticulture Development Board (AHDB)
Farming sector markets and prices data from the Agriculture and Horticulture Development Board (AHDB), covering red meat, dairy and arable markets.
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.
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