Contents
Welcome To Our Summer Edition Of Agriculture And Farming
3 Welcome To Our Summer Edition Of Agriculture And Farming
4 Is The Sun Setting On The Furnished Holiday Let Boom?
6 The Irony Of A Green Revolution
8 Creating A Habitat Bank: What You Need To Know
10 Spring Budget Brings Some Welcome Clarity On Inheritance Tax
Welcome to the latest edition of our Agriculture Newsletter. As I write this, the sun is streaming through my window which is a welcome sight after the challenging weather of recent weeks.
I n February we were delighted to participate in the organisation and delivery of the Suffolk Farming Conference with Suffolk Agricultural Association and Fram Farmers. Henry Dimbleby was the keynote speaker and delivered a thought-provoking talk, a segment of which is the subject of one of our articles reflecting on the advent of the Green Revolution of the 1950s and 1960s and its legacy of poor soil fertility and reduced biodiversity. Read more about this on pages 6 and 7. New government schemes are designed to address that legacy and the Spring budget provided some clarity on the tax implications for farms delivering those schemes. That budget also announced the abolition of the Furnished Holiday Lettings status of rented property and on pages 4 and 5 Chris George of our tax team explores the potential consequences as we wait for policy to catch up the announcement.
12 Common VAT Mistakes In The Agricultural Sector
I am grateful to our guest contributor Kate Russell from Tellus Natural Capital who explains the key considerations of Biodiversity Net Gain opportunities and what they can mean for farmers on pages 8 and 9. The responsibilities of the farmer include being an agent for the Government in administering VAT whilst keeping the books and Lydia Brasted from our outsourcing team provides insight into the common pitfalls and mistakes on pages 12 and 13. I am also delighted to report that Scrutton Bland has joined the Sumer Group, a national network of likeminded firms to champion small and medium sized enterprises. Read on pages 14 and 15 for more information but we believe this will enable us to deliver more for our clients and collaborate and share knowledge which is particularly important at such a time of transition for the agriculture sector. I hope you find our newsletter of interest and as we approach Show season, I look forward to seeing some of you out and about when I hope the sun will still be shining!
14 It’s Sumer Time...
16 Meet The Team
Nick Banks Business Advisory Partner
2 | SCRUTTON BLAND | AGRICULTURE AND FARMING
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