Ever since agriculture first emerged in ancient times, landowners and farmers have had to adjust and change to survive. This has always meant adapting to the climate, unpredictable weather, local politics, global markets, and changing technology. Today is no different, with Brexit and the fluctuating value of the pound posing both challenges and opportunities to land-based businesses.
In this edition, we seek to explore some of those challenges – not least the end of the EU’s Common Agricultural Policy in the UK and its replacement by new approaches to policy being considered by the Department for Environment, Food and Rural Affairs. We also look at some of the emerging possibilities presented by the use of renewable energy sources and new technologies, as well as the ways in which dairy farmers can either reduce costs dramatically or increase yields by taking an active decision on how calving should be handled.
We also explores the issue of inheritance tax, including how to navigate the potential pitfalls and mitigate the impact on family members. Farmers and landowners may also be reassured to discover insights on how to use the capital allowance scheme to claim for investments such as new machinery. In some cases, this may mean the farmer or landowner is eligible for a lower tax band – potentially helping to free up a little more capacity for the changes that lie ahead as we move towards March 2019.
We hope you find Land and Farming informative and as always, we welcome your opinions, comments and suggestions on the issues that are of most concern to you for the next edition.