Government introduce major package for supporting farm and food sector

On 14^th May, the government has announced a major package to support the UK’s farming and food sector. This package included a number of support measure including:

• Increased support for farmers and growers affected by wet weather
• A new plan to increase domestic production in the UK horticulture sector
• Food Security Index published setting out key data and trends
• New farming grants to help boost farm business

Wet weather support

The government has announced that temporary adjustments will be made the Farming Recovery Fund where wet weather prevented farmers and land managers to achieve the requirements of the Environment Land Management Scheme.

New grants for farmers

The government also announced some new farming grants to help boost farm business. These include:

• £3 million in support for new and mobile abattoirs through the Farming Investment Fund.
• £20 million for the Laying Hen Housing for Health and Welfare Grant.
• Over £72 million for Endemics Disease Scheme to ensure farmers can tackle endemic disease.
• A Nutrient Management Grant for improving nutrient management.

Hawsons Agriculture Partner Dan Wood commented on this new package:

The package as a whole is a welcome announcement, indicating a commitment to domestic food production, when much of the recent funding has been environmentally focused.

After a particularly wet six months, the wet weather support will no doubt be of help to those operating the ELM Scheme but will give little relief to those arable farmers who have suffered failed crops.

How can we help?

At Hawsons our dedicated team of specialist agriculture accountants understands that farming isn’t just a business; it’s a way of life.

The rural and agriculture sector is a specialist sector, with unique practices and conventions. Our accountants act for a significant number of arable farms and assist farming families in many matters specific to agriculture and farming. This includes tax, will planning and succession planning.

Our accountants have been able to assist our farming clients in adding value to their businesses. We have advised on the financial and tax consequences of property development, green technologies and capital allowance planning. In particular, we can assist in the area of capital tax planning. This is a significant issue for farmers following the increase in land values and the availability of development opportunities.