Many farm businesses have a 31 March or 5 April year end and so it is important to think about year end planning now.  Here are a few basic tax planning ideas taken from our checklists:

From our Business Tax Planning Checklist:

  • Can you bring forward revenue expenditure to reduce your profits?
  • To maximise capital allowances (up to £100,000) you may consider bringing forward equipment purchases.
  • If you are a higher rate taxpayer, consider making additional pension contributions before 5 April 2011.

From our Personal Tax Planning Checklist:

  • Have you and your spouse used your ISA allowances
    up to a maximum of £10,200 for 2010/11?
  • Have all the family utilised their available personal allowances of £6,475 for 2010/11?
  • Have you considered, for Inheritance Tax purposes, using the £3,000 annual gift allowance?

If you would like a copy of our full tax planning checklist,
please contact:

Jonathan Crowther FCA or Sophie Howard ACA at

Pershore (01386 552644) or Ledbury (01531 631500)

Email: farming@crowther.co.uk