Agriculture

“Our agricultural accountants have the specialist knowledge required to help farmers benefit fully from every possible tax opportunity”

Agriculture is big business, playing a key role in our diverse local economy. However, in terms of finance, this sector is quite literally in a field of its own.

The farming industry is subject to complex and highly specific rules across all forms of taxation. Specialist knowledge of each of these unique taxation rules is needed to make sure farmers are keeping their taxes to a minimum and benefitting fully from every possible tax opportunity available to them.

Our dedicated Agricultural team provides specialist accountancy services to a large number of farming businesses in the dairy, beef, sheep and cropping sectors throughout the west and south west of Scotland and further afield.

The team is headed up by partners Robert Fergusson and Graeme Bryson, both of whom grew up on farms in Ayrshire. Attending specialist agricultural and estates conferences organised by ICAS (Institute of Chartered Accountants of Scotland), both partners speak regularly at seminars and discussion groups on taxation and accounting issues affecting the agricultural industry.

Key areas of expertise:

  • Herd basis accounting
  • Capital allowances
  • Capital gains tax
  • Inheritance tax
  • Subsidy system
  • Averaging rules

Additional support for your business:

We offer professional services and advice on a number of matters affecting farming businesses, including:

  • Management reporting systems
  • KPIs and benchmarking
  • Informed decision making
  • Financial forecasting and budgeting
  • Personal financial planning
  • Self-assessment

For further information, please contact Robert Fergusson or Graeme Bryson or your local William Duncan partner.