Farming & Rural Business Community articles

The new Chair reflects on farming’s challenging reset, urging advisors to support clients with expertise and compassion. Celebrates youth agricultural education and the growth of the Farming & Rural Business group, encouraging engagement and future ideas.

IAgSA is a national professional organisation supporting farm administrators and bookkeepers working across the UK rural economy. Our members provide a wide range of services to farming and rural businesses, and our mission is to provide professional support to farm administrators and bookkeepers working within the UK rural economy, support career development in rural business administration and promote high standards of professional conduct within farm and rural business administration.

As some clients look to swerve the more onerous aspects of Making Tax Digital or indeed personal taxes more generally, we may be seeing a rise in the number of existing businesses converting to an incorporated status (and in the light of the latest consultation as outlined elsewhere in this newsletter, the words “frying pan “ and “fire” nay not be far from the lips of some advisers).

For farming businesses, land and buildings owned are often the most valuable assets on the balance sheet. When ownership changes, either through a sale, gift or part of a restructuring process, VAT should be considered at the earliest possible stage.

Whilst attention may have been focused elsewhere in the latter part of the tax year, a consultation document released on 19 March may be worth some consideration in the near future.

Nearly a year on from the First-tier Tribunal judgement in Charlotte Macdonald v the Commissioners for HMRC, how have diversified rural businesses been impacted?

The angst of another Budget has come and gone. It does seem that the positive points from the Budget of 2025 are the things that haven’t been touched. For example, the seven-year gifting rule and the CGT tax free uplift on death.

As Rachel Reeves' second Budget starts to sink in, it is clear that, once again, there is relatively little in it to cheer the rural economy.

As shown by the ‘Jaffa Cake’ and ‘marshmallow’ VAT status sagas, the charging of VAT on ‘marginal’ food supplies can cause ramifications in the confectionary industry with implications for farming. In Walkers Snack Food Ltd v CRC in the Upper Tribunal, the ‘Sensations Poppadom’ came under question as to whether it was zero or standard-rated. Some might argue that the name ‘Walkers Snack Food’ does not promote zero-rated food. And who doesn’t love all those products. For the farm shop that acts as village shop and supplier of ‘goodies’ for all the farm diversified activities of campsites, farm ...