Know How / Finance

A good grasp on the costs of production can often be what sets the best performing farms apart from the rest. See how benchmarking and budgeting information can be used to help strengthen your financial management and manage cashflow. Plus, get expert advice on how to access finance.

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FINANCE

What business interruption test case means for policyholders

Insurance policyholders who have been refused a coronavirus-related business interruption (BI) claim should have their policy wording checked to see how it is affected by the outcome of a recent…

FINANCE

How to avoid key dates cash crunch with good planning

Cashflow pinch points are likely to arise for many farming businesses in the next few months. Aside from lower yields on the arable front and rising costs of production for…

BUSINESS

£30bn support package: What it means for farmers

Farm industry leaders have welcomed chancellor Rishi Sunak’s £30bn support package, but have called for more information on how it will work in rural situations. The chancellor’s Summer Economic Update…

FINANCE

Coronavirus loan scheme: What farmers need to know

Farmers who have seen their income hit by coronavirus are being urged by the government to apply for the Coronavirus Business Interruption Loan Scheme (CBILS). This is the primary help…

BUSINESS MANAGEMENT

Coronavirus: Who is eligible for self-employed support?

New entrants and company directors may struggle to receive financial support from the government’s new scheme for the self-employed. Chancellor Rishi Sunak announced on Thursday (26 March) that self-employed workers…

BUSINESS CLINIC

Business Clinic: Should I hold on to 2019 crops?

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Mark Chatterton of Duncan & Toplis advises on a tax question that…

FINANCE

Arable finances: What to consider after tough winter

Arable farmers with undrilled or poorly performing winter crops should consider fallowing marginal land to ease cashflow problems, say farm advisers. With more spring crops expected to be planted across…

DIVERSIFICATION

Why research is key to diversification success

Farmers looking to diversify should consider doing in-depth market research before taking the plunge, to be confident that they are giving potential projects every chance of success. Investing borrowed or…

FINANCE

Borrowing update: Has Brexit hit lending to farmers?

Farmers are increasingly uncertain about what agricultural produce will be worth in future. This is causing difficulties for businesses to generate accurate forecasts to satisfy lenders that they are fit…

FINANCE

10 tips to build a Brexit cash reserve for dairy farmers

Dairy producers should consider trimming capital expenditure and fixing costs to build up a cash reserve ahead of potential shocks from a no-deal Brexit, a dairy farm consultant has said.…

BUSINESS

What to do if you're a victim of...fraud

Cybercriminals are increasingly turning their attention to small and medium-sized enterprises including farms, because they know people running these businesses often live and work in isolation and are probably an…

FINANCE

Advice for farmers who are struggling to pay their bills

An unexpected bill or two at the wrong time of year can be enough to push some businesses into financial difficulties, and the result can be unpaid debts. The solution…

FINANCE

How to avoid tax traps on second-hand kit

Financially, 2019-20 may be a good time to buy second-hand machinery before the phase out of the Basic Payment Scheme begins and with a newly introduced hike in capital allowance.…

TAX

Structures and buildings allowance – a guide for farmers

The announcement of a new structures and buildings allowance (SBA) in the Autumn Budget 2018 means erecting and refurbishing farm buildings is now more financially viable. Accountant Old Mill says…

FINANCE

Remortgaging – how to reduce costs, stress and time

Remortgaging farm properties is a similar process to buying, so good preparation is vital to keep time, cost and stress to a minimum. Lenders will want to ensure that their…

BUSINESS CLINIC

Business Clinic: Using arable profits to prepare for Brexit

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Mark Chatterton of accountant Duncan & Toplis advises on the tax…

BUSINESS CLINIC

Business Clinic: Borrowing to buy land - what to consider

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Charles Skelton of Savills sets out what to consider when increasing…

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