Welcome to this (first) issue of Land & Rural Review, also my first issue as editor and as head of the firm’s Landed Estates and Rural Business Group.
Many businesses, whether or not they are rural or land-based, have been hit by the double blow of the pandemic and Brexit. In the autumn of 2020, we carried out a survey of landed estate and rural business clients, to find out how they were faring. The feedback we received was perhaps better than we had anticipated: despite the enormous business disruption and upheaval caused by the pandemic (at that point), Covid-19 ranked only fifth in a list of the most important issues facing rural businesses. Brexit and trade was, overwhelmingly, the most important issue. Months later, for many of our clients it continues to remain the most important issue, as uncertainty over EU trade continues.
Though Landed Estates Annual Review is now Land & Rural Review, we feature similar articles that provide practical guidance and insight to support landowners and rural businesses through the potentially challenging business conditions ahead.
Below are links to read our individual articles online.
Our articles:
- We consider how landowners can capitalise on natural capital, given the changing subsidy system for farmers. Read more
- We identify opportunities for farming businesses that need to review their operations as grant funding shifts. Contract or share farming could allow businesses to share the risks – and rewards. Read more
- James Probert explains how Historic Houses’ 1,500 member houses, castles and gardens have weathered the pandemic. Read more
- The VAT system can help businesses with cash flow management, with a little forward planning. Read more
- Some estate businesses may be caught out by the new VAT domestic reverse charge in the construction sector. Read more
- We showcase some of the projects we have assisted our clients with this year: from inheritance tax planning for a multi-generational farming business through to advising on heritage assets and claiming Conditional Exemption. Read more
- Finally, with many businesses moving their accounting systems into the cloud, we highlight the benefits of cloud accounting. Read more
David Chismon,
Head of Landed Estates and Rural Business Group
