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.

Practical advice

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Peer-to-peer lending for farmers: What you need to know

Peer-to-peer is the modern equivalent of borrowing money from a friend or family. It is a form of borrowing and lending between individuals, or “peers”, without a traditional financial institution…


What is lasting power of attorney and why is it so important?

Officially naming someone to have the power to take care of your financial affairs if you suffer an incapacitating illness or injury will allow a your business to function more…


6 ways arable farms can reduce business risk

Insufficient income and tight cashflows remain the main problems on many arable farms, particularly when viewed against the likely tightening of support payments. The pressure points businesses will face over…


Business Clinic: Tax bill on family farmland buy-out

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Peter Griffiths, tax director at Hazlewoods, advises on inheritance tax (IHT)…


How to improve your chances of securing a farmland mortgage

Buying farmland is a hurdle too high for most young farmers and new entrants. The average acre of land costs four times what it did in 2003, meaning most will…


Podcast: Fertile Minds on finding and managing finance

New entrants to farming who turn to the bank of mum and dad for funding should always agree the terms in writing. This was the advice from John Hartwright of…


Tax and finance advice when expanding your farm business

In the drive to expand, business managers often focus on the practical, but getting the financial stucture correct deserves proper planning time too.  There can be both short- and long-term…


Business Clinic: Danger of undocumented family loans

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Robert James of Thrings offers advice on loans to family members.…


Questions about pensions you should be asking

Changes to pensions legislation mean savers have more flexibility when it comes to taking their pension. Farmers Weekly has asked chartered accountants Saffery Champness to answer key pension questions: How…


6 tips for improving short-term farm finances

Profits for dairy farmers have fallen by around 25% in the year to March 2016, with the rest of the industry experiencing similar difficulties. Farmers Weekly asked accountant and financial…


Financial advice on budgets and contracts prior to Brexit

Lawyers and consultants are advising farmers to review their budgets and contracts to deal with the uncertainty over support payments and rural development schemes following the EU referendum. Farmers are…


Top contractor tips for stress-free debt collection

Low commodity prices are always passed down the farming chain, so contractors that agree a well-organised repayment structure with their customers will always have an easier job collecting debts. There…