Farming in a volatile market
Uncertain commodity prices and fluctuating input costs are a recurring theme for our farming clients.
Uncertain commodity prices and fluctuating input costs are a recurring theme for our farming clients.
Purchasing machinery is a huge financial commitment and when timed right can be extremely tax efficient. In years where there has been a good harvest, re-investing some of that profit into new plant and machinery before the end of the year is one of the best tools to reduce your tax liability.
Further changes are coming…..
The well-known routes to take money out of your limited company are by way of salary and dividends.
Winter evenings or perhaps hours spent on a tractor can give time for thoughts and discussions regarding business structure and succession planning. The team at Ellacotts collectively have decades of experience in handling transitions in business management and land ownership with our farming and landowning clients.
After some concerning conditions in March and April 2021, better weather in May turned around the outlook for 2021, and now with wheat being harvested in between rain showers we are starting to see the results.