Suzie Horne

A company structure is right for some businesses, but too often the decision is driven by the potential for paying less tax on profits when there is far more to consider, say advisers.

Creditor levels on-farm are rising and bank facilities are stretched as cashflow is further squeezed.

Breiffni Daly, of Sansaw Dairies in Shropshire is Farmers Weekly Farm Manager of the Year 2024.

Typical farm types in England face a lean financial future unless they adopt Sustainable Farming Incentive (SFI) options or find sources of income from other environmental measures or alternative enterprises.

Insurance is a challenging market, with weather-related claims behind much of the premium increases policyholders have seen over the past few years.

Returns are under pressure for both farmers and contractors, with the loss of Basic Payment Scheme (BPS) money and higher costs, in particular for machinery and fuel.

Headlines about housebuilding being held up by environmental measures have abated to some extent, but the need to ensure that new development does not increase the nitrogen and phosphate loading of water bodies remains.

Chancellor Rachel Reeves has slashed farming's favourable inheritance tax reliefs in this week's Budget, limiting 100% agricultural property relief and business property relief to the first £1m of value.

Double cab pickups (DCPUs) bought from 6 April 2025 will be classified as cars for tax purposes, bringing far higher benefit-in-kind charges than their current van status qualifies them for, and delayed capital allowances.

Farmers Weekly is occasionally contacted by farmers in financial difficulty after taking on additional borrowings.