Year End Tax Planning!

Many farms have a 31 March or 5 April year end and so it is important to think about year end planning now.

Capital expenditure

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.

Revenue expenditure

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?

Stock valuation

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