Livestock farming in this section, predominantly refers to beef and sheep farming. In Cumbria we have land from the marshes to the mountain tops of the Lake District and everything in between, this produces some fantastic livestock.
Cumbria is renowned as a tremendous livestock area, with our good grass growing climate. Despite this the beef and sheep sectors are probably the most financially challenged in farming today.
With constant competition from foreign imports and volatile prices, both in terms of your finished product and the inputs required, it is essential to take the opportunities to maximise your profit margins and minimise your tax bills.
Coming from livestock farming families ourselves, we understand the need to grasp these opportunities. We have helped businesses with grant claims, analysis of the profitability of each business enterprise and helped families maximise their tax credit claims, amongst other things.
As with dairy farming there are opportunities to minimise tax through the use of specialist agricultural tax rules, including the herd basis and averaging of profits. If you would like to discuss what we can offer to your livestock farming business, please contact Lindsay or Paul.