FCG Business Briefing Newsletter February Mid Month 2018

Welcome to The Farm Consultancy Group's Mid Month February edition of Business Briefing Newsletter.

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Reducing Your Tax Bill -
Phil Cooper (Sherborne)

I recently attended a joint family meeting with one of my clients and their accountant. Over the years the business has grown and is now making considerable profits, which naturally lead to higher tax bills. The business structure has not however, kept up with the increases in profitability and still has only two partners, both of whom are paying 40% tax on some of their profit share this year. So, what can they do about this; form a company, spend capital, or is there a simpler solution? Read more.

Farm Labour Efficiency -
Gerard Finnan (Sherborne)

In an on farm survey the top 25% most efficient labour users spent 5 hours/cow/year less than average on cow care and 5 hours/cow per year less on milking time. 23 hours per cow, per year was spent on average with 6 hours/cow per year being taken up with machinery hours leaving 17 hours/cow per year on non-machinery time. How does your farm compare? Read more.

Countryside Stewardship: Four New Offers for 2018 -

Sophie Cahill (Sherborne)

There are now four new Countryside Stewardship grants available to farmers and landowners. These schemes are simpler and easier to apply for than the full Countryside Stewardship Schemes. Read more.

The Financial Cost of Producing Poor Grass Silage - Wesley Habershon (Chippenham)

I was recently involved with Yara in writing an article for the Farmers Guardian (February 2018) on the economic cost of producing a poor grass silage. I based my workings on two similar farms who had contrasting forages but different feed rates. Read more.

NFU Business Symposium - January 24th 2018 -
Prue Waterton (Chippenham)

The recent NFU Business Symposium offered a variety of speakers with an overall, positive message. The theme of the meeting was ‘Opportunity Agriculture: Managing Business Change’, with discussions from NFU policy to consultant roles and the exchange of knowledge. Brexit was a prominent theme throughout the day, with speakers emphasising the subsequent change and, therefore, the need for preparedness. Read more.