Accountants for Agriculture

Yes – we have a dedicated team who can help with your Making Tax Digital (MTD) requirements, as well as additional support from our specialist VAT and tax consultants along with our cloud accounting specialists. VAT registered businesses have been required to comply with MTD for a few years now, however sole traders and landlords may be required to comply with MTD for income tax from April 2026. It is important to ensure your business has good processes in place to maintain up-to-date and accurate data to be able to seamlessly meet these requirements, whilst also enabling you to review how your business is performing throughout the year and allow proactive decision making.  

In limited circumstances, taxpayers may be exempted from the MTD requirements. Lovewell Blake can help with any queries you may have surrounding MTD, how this impacts your business and help to advise on best practice within your business.

Yes – our team are on hand to help you will all aspects of your agribusiness and are also supported by the firm’s tax consultants. We work closely with other teams across the firm to be proactive with strategic recommendations and advice. We get to know you and your agribusiness and we can pull in a team of specialists based on your needs.

There is a variety of different accounting software available depending on your business. Our team are familiar with most and can advise you on the most suitable product. We would encourage you to get in touch and use our expert advice and knowledge to utilise cloud accounting to its full potential. The simplicity, connectivity and seamless reporting options provided by accounting software has revolutionised the way we all do business. Accounting software is your opportunity to modernise your business, reduce down time spent on admin tasks, and automate the mundane.

Farm accounting differs from conventional accounting due to a number of factors. The timing of recording revenue is not just specific to the financial year-end of the business but also the seasonal impact on growing crops. Valuing livestock and deadstock requires more understanding of the industry and rules surrounding cost of production and deemed cost. You will also find more detailed financial statements that will show separate enterprises for the business income streams and even gross margin calculations which assist better decision making.

Yes – we have specialists who can assist in all aspects of starting a rural business, we know that as your business grows you will need experienced support to let you focus on maximising your potential. We pride ourselves on being locally based accountants with experience in your sector and the challenges you face. Having worked with over 400 agricultural businesses we have experience advising businesses at every stage, including preparing budgets and business plans to finding an effective exit strategy.

The specialist knowledge we have developed means that you can always talk to someone who understands the real issues affecting you and your agribusiness, now and in the future. As well as providing traditional accounting and taxation compliance services, we also get involved in working with you to advise on; profitable uses of land, investment or diversification, complex taxes, preparing budgets and business plans, assistance in dealing with banks and other financial institutions, succession and effective exit strategies, investment and diversification, investment in plant and machinery, renewable technologies and much more.