1 day (6 CPD Hours)
Introduction
The pace of change in rural Britain is now so fast that only those with a strong grasp of key business issues will survive.
Where once it was enough to have farming and husbandry skills, today’s rural business scene demands a whole set of new
insights into business performance and profitability to deliver success.
This conference will ensure that delegates are able to keep one step ahead of these events by having forward tax planning
and accounting mechanisms in place to ensure the survival of farms and rural businesses whilst offering an overview of the
current planning opportunities open to farmers today.
The course in detail
09:30 Welcome
Chair –
Michael Donovan,
Editor, Practical Farm Ideas
09:35 – 10:15 Surviving 2008 and beyond
A look at the unprecedented challenges which faced the agricultural sector in 2007 and look forward at this piviotal point for
UK farming.
Richard King BSc MRICS FAAV,
The Andersons Centre
10:15 – 10:45 Twenty years on – revoking the "Opted to tax" rule – time to review
- An extensive re write of the law brings numerous changes, "Lennartz" accounting
- New law offers big cash flow savings
Douglas Gordon,
Partner, Saffery Champness
10:45 – 11:00 Refreshments
11:00 – 11:45 Single Farm Payments – where are we now?
Now that we are in the 4th year of the single payment system Keith Johnston will look at the tax issues surrounding Single Farm
Payments as well as the practical issues facing our clients.
Keith Johnston BA ACA,
Armstrong Watson
11:45 – 12:30 Case study session – farm diversification, pitfalls, problems and successes!
The farmers perspective and how moving from the traditional farm business impacts on the accounts.
- Why set up rare breed pig farm
- Where and why we have had to diversify
- Where we see ourselves going in the future
Tanja Sadler – the farm accountant has been with The Essex Pig Company since the beginning. Tanja will be discussing
‘The uniqueness of farm accounting’.
Jimmy Doherty,
"Jimmy’s Farm" The Essex Pig Company
12:30 – 13:15 All things green – taking advantage of the relief and opportunities the renewable energy debate presents
Oliver Harwood, Chief Surveyor at the CLA and lead advisor on renewable energy for the Association, will focus on the growing opportunities
for investment in on farm renewables to drive down energy costs and secure income for the farm business.
Oliver Harwood,
Chief Surveyor, Country Land & Business Association
13:15 – 14:15 Lunch
14:15 – 14:45 Advice from the auditor – the value of farm business mentoring
- Farm audit expectations
- Advice, or mentoring – an add-on service
- The positive role of an advisor
- The value to the auditor
Michael Donovan,
Editor, Farming Ideas
14:45 – 15:30 Property development potential – don’t get caught out!
- Location and market demand
- Tenure of the holding
- The resources land and buildings
- Financial and management control including taxation issues
- Planning – history and future potential
Barry Davies,
Chair, Rural Planning Division, The British Institute of Agricultural Consultants
15:30 – 15:45 Refreshments
15:45 – 16:30 CGT simplification – til death us to part!
- Outline of the new regime
- Who actually qualifies for "Entrepreneurs' Relief"
- Planning under the new regime, how can landed businesses be structured to benefit?
- The pitfalls – trading versus investment
- Interaction with existing CGT reliefs
Nick Holmes ACA,
Chavereys
16:30 – 17:15 Succession Planning
- Capital Gains Tax reform – focus on the
entrepreneur’s relief
- Inheritance Tax – tax attacks by HMRC – the answers
Julie Butler,
Partner, Butler & Co
17:15 Close
What are the benefits of attending?
- Understand the full implications of a rural business’ management accounts
- How to put forward tax planning and accounting mechanisms in place
- Network with others working in this niche market
- Stay up to date on all the latest developments and earn yourself 6 CPD hours!
Who should attend?
Advisors and those who are involved in farm business management ranging from rural land agents,
bank managers, farm secretaries, consultants and students through to the farmer or manager of
the business.
The conference will also appeal to accountants in general practices who deal with farming clients
on both a regular and occasional basis.
List of events
|
Date |
Time |
Location |
Code |
Options |
| 20 May 2008 |
9:30 -17:15 |
Warwickshire |
8CF0004 |
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|
details |