Category: Local Farm Shows

Farmers – Are You Exploiting This Tax Allowance?

It may not be all good news for farmers this year but there is one particular piece of news that every farmer should be aware of and that relates to an opportunity to take advantage of machine purchases with the help of the government.

Farm machinery is often a major purchase with tractors alone costing in excess of £100,000 so if these savings can be offset it has to be good news. Fortunately, the government stepped in to help farmers with a change to the Annual Investment Allowance that will go a long way towards helping farm businesses make some big investments in farm machinery.

The fact that the move isn’t permanent should alert farmers to take advantage before 2021. The AIA threshold was £200,000 in 2018 and this has temporarily risen to £1million for the next 2 years.

With a lot of uncertainty at present and for the future of some farms in the UK this allowance could make a difference. Specialist finance could help ease costs further for farm businesses and enable more investment to improve efficiency and explore new opportunities for farm business development in the future.

If you would like to find out more about farm finance contact one of our advisors today who will be able to help.

Local Farm Shows

Despite the fact that British Farming has been undergoing hard times today, however it’s not all doom and gloom!

It’s not new news that agricultural shows are big business in the UK! It’s a great way to celebrate what’s great about the farming community, British Farming and the ‘rural way of life’. Around six million visitors head to farm and country shows in the UK each year, which equates to 10% of the British population.

Events

There is a wide range of different events on offer, including county shows, royal shows, agricultural shows, equine displays and horticultural events – with many combining a range of different attractions. Most shows will have a large number of exhibitors, which will include local farms and businesses that are keen to show off their produce, herds, goods or services.

It’s a great way to get involved in the local farming community in your area, have a great day out with the family and to buy some locally sourced goods too. The shows can also be a great way for farm businesses to pick up new customers and increase market awareness.

Competitions

As well as exhibitions there will typically be competitions, such as show jumping, vintage-tractor displays, dog agility competitions, produce competitions, flower and horticultural prizes and more. Some agricultural shows will also have prizes relating to food, baking and locally produced cider, beer or wine, so there really is a great deal of diversity and something for everyone.

If you, farmers can enter and win at one of these competitions, it’s a great way of getting your farm brand known to the wider public and generating some free publicity, especially as the shows are often very well covered by local press and specialist publications. This wider marketing of your farm can only server to improve your farm finances.

What’s On Next Year

If you’re considering exhibiting in next year’s shows, then a good starting point to finding out what’s on and available, you’re bound to find something local to you. Follow the link – www.game-fairs.co.uk/game-country-shows