Stephenson Smart has been providing accountancy services for the agriculture and farming sector for over 100 years. We have a wealth of experience and knowledge when it comes to accounting services for the agricultural sector, with advisors in Norfolk and Cambridgeshire.

Our clients include sole traders, tenant farmers, contractors, large and small agricultural companies, and estates. Our experienced and qualified accountants understand the challenges and needs of your vital industry.

We understand that farming and food production is incredibly hard. We want to support you to ease your administrative burdens, so that you can concentrate on the great work you do. We also understand that you may look at diversification to support your business with an alternative revenue stream. If you did want to look at diversifying your agricultural business we can help you with tax planning, preparing budgets, and producing business plans.

We can tailor our support to your specific requirements to help you to grow and expand.

The benefits of using an accountant:

  • Saving you time to focus on running your business.
  • Specialist knowledge to ensure accurate reporting.
  • Expert advice on tax planning and compliance.
  • Accurate and informed business advice.
Agriculture

The accountancy service we provide is:

PROFESSIONAL

Our teams are fully qualified and experienced in your sector, to provide you with an efficient and personal service.

COMPLIANT

As chartered accountants we are aware of your obligations to HMRC and qualified to ensure they are fulfilled.

SUPPORTIVE

The advice and support we can offer you and your business will give you the peace of mind to allow you to concentrate on your profession.

Agriculture
Agriculture

Stephenson Smart are very pro-active, it wasn’t a case of Nigel just managing the books and seeing what would happen, he was honest and made me think about what I could do to make it work. They have been very helpful and supportive.

Stephen Harvey, Jex Farm

Agriculture

As part of our accountancy service, we provide:

  • Full accountancy service, including end of year financial statements.
  • Accurate and timely bookkeeping.
  • Accurate and timely payroll.
  • VAT advice and support.
  • Capital Gains Tax advice.
  • Advice on Inheritance Tax, Probate and Estates.
  • Diversification and succession planning.

  • An understanding of farm assets such as plant property and equipment.

  • An understanding of the tax allowances and tax efficiencies available to your sector.

We are members of the Institute of Chartered Accountants, making us fully qualified to be your trusted business accountant.

We can look after some of the administrative tasks that have to be done, such as payroll and bookkeeping, leaving you time to focus on the developing and managing your business.

From small farms to large, diversified estates, we can help you to run as an efficient, profitable enterprise, so that the future of your business is assured.

FAQS

To ensure that your business is undertaking the correct reporting, especially to HMRC, it is beneficial to employ the services of an accountant. We can also help with administrative tasks such as payroll and bookkeeping to ease that burden from you.

An agriculture accountant is a qualified professional who specialises in looking after the accounts of someone in the agricultural sector. This can range from sole traders, tenant farmers and contractors to large agricultural companies, and estates.

In any business, it is important to ensure accurate record keeping. This is the same for farming and agriculture. You may be required to keep your records electronically by HMRC, this is something we can advise you on. You may feel that you have the time and skills to undertake this yourself or employ someone to do it in-house. If this is the case, you may still need support with end of year reporting and submissions to ensure that you are paying the right amount of tax.

There are allowances that agricultural businesses can utilise to help reduce their tax bill; you can invest in plant and machinery, consider research or developing a new product and look at paying into a pension. We can advise you on the thresholds for the allowances available.

Agricultural property usually attracts agricultural property relief, and a business and share in a company usually attract business property relief. However, this could be denied if the criteria are not met. Particular care needs to be paid to the farmhouse to ensure relief will be available.

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