Finance News

More farmers are seeking advice on their pension pots following changes announced at the Budget, which will bring unspent pensions and death benefits within the scope of inheritance tax from April 2027 – making it more difficult for farmers to pass on wealth to the next generation. 

A new study to examine farm household income and reliance on government subsidies will go ahead thanks to a financial boost. The research aims at informing policymakers on the realities of farm finances.

Small businesses across the UK have been facing many financial challenges in 2024, including fraud and scams, the Financial Ombudsman Service has revealed. 

Amid ongoing fears about changes to inheritance tax, chartered tax advisers and accounts, Tax Innovations, offers advice on what to do before April 2026.

The government has said a ‘new and improved’ Countryside Stewardship Higher Tier Scheme will open in 2025, following delays.

In today’s volatile agricultural market, staying profitable is tougher than ever. Attara says it is here to help you hedge against risks and gain control over your bottom line.

The recent Budget announcements sent shockwaves through many rural businesses across the UK, with the latest data showing that the drastic reduction of the Basic Payment Scheme will have the biggest impact on farmers in less favoured areas. 

Data commissioned by the NFU has shown Labour is not trusted by its 2024 voters on issues surrounding the impact of the Budget on farmers. Changes to inheritance taxation on family farms are unpopular, and perceptions that Labour does not value rural voters as highly as urban ones are building. 

The farming and agriculture sector SMEs are urged to register a business banking complaint with the Business Banking Resolution Service (BBRS), which is set to close to new registrations on 13th December. 

In 2023/24, average farm business income was lower for all farm types except for specialist pig farms and specialist poultry farms, Defra has just revealed. 

Changes to the inheritance tax announced by chancellor Rachel Reeves could place “an overwhelming financial burden” on UK family farms, according to the Country Land and Business Association (CLA). 

Morrisons has committed to invest over £1.4 billion into British farming as well as announced a shopping discount for the supplying farmers.