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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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…

FINANCE

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…

BUSINESS MANAGEMENT

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…

FINANCE

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

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)…

BUSINESS

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…

MACHINERY

New farm kit: Is buying, hiring or contracting best?

We all love that faithful old tractor which plugs on day in and day out; but what happens when it finally takes its last gasp and needs replacing? Do you…

BUSINESS

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…

BUSINESS MANAGEMENT

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…

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