Agriculture

Agriculture Starts with AG

Agriculture plays a vital part in the vibrancy of the South West economy, and our offices across the region place us at the very heart of this community.

At Albert Goodman, our team of agricultural experts specialises in giving tax, business and financial advice to farmers, estates and agri-businesses. Our technical expertise combines with a working knowledge of the agricultural industry – so you can rely on our advice to be practical, as well as sound.

We work closely with you, with commitment and enthusiasm, to bring a fresh perspective to your business.

We help you with:

  • Business structure: we advise you on the most tax-efficient structure for your farming business, and assist with restructuring
  • Business accounts: we prepare your annual accounts
  • Income tax: we help mitigate your income tax liability
  • Inheritance tax: we advise you how to minimise inheritance tax liability, including how to protect valuable agricultural and business property reliefs
  • Capital gains tax: we devise strategies to reduce your liability to capital gains tax
  • VAT: we help you with VAT planning and administration, and advise you on the use of agricultural VAT schemes
  • Tax compliance: we prepare your tax returns, and submit them on your behalf
  • Stamp Duty Land Tax: we advise you on your SDLT liabilities, and how to minimise these
  • Planning for the future: we advise you on succession and retirement strategies
  • Accounting systems: we advise you on the most appropriate accounting systems for your agricultural business, and help you implement these
  • Finance: we help you to obtain suitable finance for your business
  • Cashflow: we assist with cashflow forecasting, budgeting and monitoring
  • Partnership agreements: we advise you on the terms of partnership agreements, and on profit-sharing arrangements
  • Farm business planning: we prepare a farm business plan, to add credibility to your business and help maximise your profit
  • Financial planning: we advise you on personal financial planning, pensions and investments
  • Bookkeeping: we provide bookkeeping services, training, support and advice
  • Trusts: we advise you on the use of trusts, to help alleviate your tax burden

For larger agricultural businesses, we also offer audit and payroll services. And, because we subscribe to all of the main providers of agricultural accounting software, we carry out all of this work in the most efficient and cost-effective way possible.