We’re here for the farming community.
With 17 offices across Devon and Somerset, we are never very far from the agricultural community that underpins much of rural life. We have been dealing with farmers and taxation matters for over 40 years and so have a wealth of experience to draw from.
Over the years we have developed specialist knowledge in the agricultural sector and our agricultural team has a wealth of experience in dealing with the issues that are specific to farmers. We understand that as well as being a business, farming is a way of life and, more often than not, is very much a family affair with the hope that the farm will pass down the generations.
Agriculture is, by its nature, a very capital intensive activity. In addition, the financial performance of farms is greatly influenced by factors outside of the farmer’s control, such as the weather and market prices, and can fluctuate from one year to the next. Many farmers are also having to look at opportunities to diversify their activities.
Many of the taxes reflect these issues and there are a number of tax reliefs which are unique to farming. It is vital that any planning takes account of these aspects and looks to maximise the tax reliefs available whilst protecting the farming assets.
We are able to discuss issues clearly in straight forward language and take a well-rounded approach to giving advice which takes account of personal and family concerns as well as the financial and tax implications.
We’re here to help family farms and farming families.
Get in touch with one of our specialist advisers to see how we can help your business.
Whoever you are, wherever you are, whatever you want to achieve. With more offices in the South West than any other firm, we’re always on hand to offer face-to-face advice, opening doorways to a whole world of specialisms and services which are available to all of our clients whenever they need them.
To find your nearest office or get in touch with one of our specialist advisers, please go to our contact us page.
DEFRA and HMRC have at long last clarified the tax treatment of the proposed lump sum payment to be made to farmers to exit the industry. The lump sum exit scheme was originally proposed last year but it was not clear whether it would be taxable as income or capital. It has now been confirmed30/06/22
Westcotts’ new agricultural business adviser has farming in his blood A new agricultural business expert appointed by Westcotts brings with him a wealth of experience of Devon’s farming industry. Will Fisher, who joins the firm’s agricultural consultancy, has been working in the sector for more than eight years and will be acting for clients across07/12/22
Diversifying a farm business – some key considerations In a bid to increase their profits and create some financial stability, more and more farmers are looking at diversifying their agricultural and farming activities. This comes after Brexit where previous EU farming subsidies have become uncertain, and many farmers are struggling to forecast their future income.21/04/23