Many farms have a 31 March or 5 April year end and so it is important to think about year end planning now.
- Are you making full use of the £100,000 Annual Investment Allowance to obtain 100% tax relief on equipment purchases? From 6 April 2012 the maximum relief is just £25,000.
- Can you bring forward any revenue expenditure in the business to reduce your profit for this year?
- Are there any large repairs that could be done before your year end to reduce your profit?
- Have you taken account of homebred animals?
- Have you valued your growing crops based on cost or selling price less profit margin?
- Have you considered using a professional valuer?
Please review your circumstances with your professional adviser or for further information about our services contact
Jonathan Crowther FCA
Pershore 01386 552644 or Ledbury 01531 631500