Accounting for Agriculture

This module will enable you to

• Understand the tax implications of diversification.
• Identify available reliefs for inheritance tax.
• Identify available reliefs for capital gains tax.
• Recognise the affects of SDLT, VAT and duty taxes.

About the module

Over the years, farming has had to adapt and deal with a lot of change. This trend is set to carry on, with rising costs of goods, energy, and finance, as well as constantly changing legislation and environmental pressures.

So, diversification, which has been a key element in the success of many agricultural businesses over recent years, is likely to continue to prove necessary. Diversification isn't easy, though. Not only does the farmer have to learn new skills and ways of operating, but they also must manage different business structures and face different tax regimes.

At the same time, they are grappling with the commercial implications of business decisions. So, in navigating this complex landscape, farmers need the expertise and support of a good accountant!