Core Services for Farming and Agricultural Businesses
Services for Farming & Agriculture
Specialist agricultural accountants protecting your legacy and yields.
Farm Bookkeeping
Specialist farm bookkeeping tracking livestock, crop valuations, machinery costs, and seasonal cash flow fluctuations.
Capital Allowances
Maximising tax relief on agricultural buildings, specialist machinery, tractors, and farm infrastructure investments.
Annual Accounts
Preparation of agricultural partnership or company accounts, factoring in herd basis valuations and stock adjustments.
Agricultural VAT
Managing complex agricultural VAT issues, including zero-rated sales, standard-rated inputs, and prompt VAT repayment claims.
Succession & APR Planning
Protecting family assets with proactive planning for Agricultural Property Relief (APR) and Business Property Relief (BPR).
Farm Software Setup
Deploying agricultural-specific cloud software to simplify field, crop, livestock, and financial tracking.
How We Help Farming and Agricultural Businesses
Proactive management of highly seasonal cash flow and farm margins
Herd Basis tax planning to treat livestock as capital assets rather than stock
Maximised capital allowances on machinery, equipment, and farm buildings
Inheritance tax protection using Agricultural Property Relief (APR) strategies
Frequently Asked Questions
What is the Herd Basis, and how can it help our farm save tax?
The Herd Basis allows farmers to treat a production herd (like dairy cows or breeding ewes) as capital assets rather than trading stock. This means profit on the sale of the herd can often be tax-free, and fluctuations in animal values do not affect trading profits. We can advise if this is suitable for your farm.
Can we claim Agricultural Property Relief (APR) on our farmhouse?
APR can reduce or eliminate Inheritance Tax on agricultural land and buildings. However, for a farmhouse to qualify, it must be ‘character appropriate’ to the agricultural property and occupied for the purposes of agriculture. We help structure your business and occupancy to protect your APR status.
How does farmers' tax averaging work?
Because farming profits can fluctuate wildly due to weather and market prices, HMRC allows sole traders and partners in farming to average their profits over two or five consecutive years. This can smooth out tax brackets and significantly reduce tax liabilities in high-profit years.
Why are farms usually in a VAT repayment position?
Most farm outputs (like grain, milk, and livestock) are zero-rated for VAT, while many farm inputs (like machinery, professional services, and building repairs) are standard-rated. This means farms regularly claim VAT back from HMRC. We handle prompt monthly or quarterly VAT submissions to get your cash back quickly.
What capital reliefs are available for farm machinery purchases?
The Annual Investment Allowance (AIA) allows businesses to claim 100% tax relief on qualifying plant and machinery purchases up to £1 million per year. This includes tractors, combine harvesters, and barn equipment. We make sure you utilise this allowance strategically to offset your taxable profits.
Talk To Us
We are here to make business feel clearer and easier, starting with a simple conversation. Whether you need a new accountant, specialist advice or wider support from the Nuvo team, we would love to hear from you.