Farmers whole farm review

19th July 2016 | Posted in: Company News

Farmers – Did you know that you can secure grant support inheritance tax and succession planning?

Many farmers are aware that the Scottish Government is offering grant support for a 3 stage review of their business. Broadly, by signing up for the Whole Farm Review Scheme, an accredited adviser will analyse the whole farming business and provide a report and action plan.

The grant rates are as follows:

  • Stage 1 Whole Farm Review 80% of cost up to £1,200
  • Stage 2 Action Plan Review 100% of cost up to £300
  • Stage 3 Additional Support for Specialist Advice 80% of cost up to £1,000

But did you know that Johnston Smillie can provide advice for farming clients under Stage 3?

This would cover the likes of the implementation of inheritance tax and succession planning, included within the Whole Farm Review. In fact one of our clients has recently had approval for Stage 3 funding, which has enabled us to carry out an inheritance tax review on his behalf.

This scheme will come to an end on 31 December 2016.

Please note that the scheme is NOW CLOSED to new applications (including Additional Support Application) as from 31 July 2016.

For further information on the scheme please contact the Scottish Government on 0300 244 6787, email farmbass@scotland.gsi.gov.uk or visit www.gov.scot/Topics/farmingrural/Agriculture/grants/BDandM/WFRS2016

Our team of agricultural specialists are here to help you. You can contact Angie Harvey on 0131 317 7377 or email angie.harvey@jsca.co.uk and she will ensure you are connected with the most relevant and available member of the team to discuss how this might work for you.

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