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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BUSINESS CLINIC

Business Clinic: How can I get better value from insurance?

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s experts can help. Esther Kane of insurance broker A-Plan Rural sets out how to approach an insurance review.…

ARABLE

How growers can qualify for new SFI soil payment scheme

Most arable growers should be able to qualify for a £40/ha payment from the first tier of a new environmental scheme by looking after their soils and so helping to…

CROP MANAGEMENT

How growers can plan with support worth only one-third of BPS

Arable growers looking at new “public money for public good” environmental schemes are likely to earn only one-third of their current area-based subsidies, which are being phased out. This funding…

PAYMENTS, SCHEMES AND GRANTS

Farming Investment Fund grants – what's on offer?

The Rural Payments Agency (RPA) has set aside £27m to help farmers in England improve efficiency and deliver environmental benefits. That sum will have to fund individual projects of up…

BUSINESS

Tax and money management tips for diversified farm businesses

Many new diversification ventures have been set up in the past 18 months, often relating to threats or opportunities brought about by the pandemic. Farmers Weekly asked advisers for their…

PAYMENTS, SCHEMES AND GRANTS

Advice for navigating changes in farm support

The phase-out of the Basic Payment Scheme (BPS) is set to have a huge impact on farm incomes across England. After the first cuts this year, farm businesses face the…

FINANCE

CFAs need new approach in light of BPS phase-out

Contract farming agreements (CFAs) need to change to account for the impact of Basic Payment Scheme (BPS) cuts and the move to Environmental Land Management (ELM), says Gary Markham of…

BUSINESS

Budget 2021: What's in the detail for farm businesses

Broadly speaking, company tax and finance received more attention than that for sole traders and partnerships in the chancellor’s Budget last week. The so-called “super-deduction”, a new 130% first-year capital…

BPS

Exit payments: What should farmers do to prepare for 2022?

Farmers in England learned last week that Defra is planning to offer them the chance to take a lump sum exit payment in 2022 instead of collecting their remaining Basic…

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…

MACHINERY

Advice on managing machinery costs before BPS phase-out

Arable businesses are being urged to scrutinise machinery costs and purchasing policy ahead of the potential industry changes arising from the government’s new Agriculture Bill. AHDB benchmarking data shows machinery…

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…

Insights

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AGRICULTURAL TRANSITION

Productivity: What it is and how to achieve it on your farm

Forward-thinking farmers must be more efficient and sustainable to meet the multitude of challenges heading their way – including increased competition in a global market. An increase in productivity is…

PAYMENTS, SCHEMES AND GRANTS

Who will benefit from Countryside Stewardship rate rise?

Payment rate increases for Countryside Stewardship (CS) may make the scheme a more attractive and viable option for farmers in England looking to offset basic payments cuts, say land agents.…

AGRICULTURAL TRANSITION

Landscape and Local Nature Recovery: What farms need to know

Defra secretary George Eustice is set to unveil plans at the Oxford Farming Conference (OFC) for two new Environmental Land Management (ELM) schemes which will pay farmers in England to…

BUSINESS

Farm business outlook 2022: Economic prospects

Global economic disruption due to Covid, coupled with Brexit-related upheaval in trade and labour markets, will continue to affect the UK economy for many years, says Graham Redman, a partner…

AGRICULTURAL TRANSITION

Sustainable Farming Incentive 2022: What farmers need to know

Soil health and regenerative farming techniques will be the key focus of the government’s new Sustainable Farming Incentive (SFI) scheme, which opens for applications from farmers in England next year.…

DAIRY

What to consider before switching from beef to dairy

Although the number of farmers considering a move from beef to dairy is still small, interest is growing and expected to rise further in the coming months, experts suggest. It…

AGRICULTURAL TRANSITION

Why arable farmers could soon earn from habitat credits

Farmers could soon earn money creating new habitats on their farms, as developers look to offset the loss of biodiversity resulting from development such as house building and infrastructure projects.…

AGRICULTURAL TRANSITION

Will Defra's lump-sum exit scheme appeal to farmers?

Faced with the greatest farm policy shake-up in 50 years, farmers have been frustrated in recent times by the lack of detail about what is to replace the CAP –…