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Northern Society of Chartered Accountants

At the heart of northern business since 1882

An introduction to agriculture for the accountant

Date: 30 June 2017 09:30 to 16:30

Type: Audit Assurance and Financial Reporting, Course, Tax

Organiser: Tyne and Wear

This course is aimed at junior staff who need a basic but thorough introduction to faming and accountancy.

This is a specialist area and it helps to be able to understand not just the jargon but how it works before facing the farmer and their (lack of) records. The course will assume some knowledge of accounting and basic tax.  It is not aimed at specialists.

Course content will include:

  • Intro and Background to Agriculture and World Food Supplies
  • Why farming is different – Arable and livestock basics
  • Subsidies – main types, what are they for and how do we recognise under FRS102/105
  • Farm valuations, harvest reports, gross margins, Mars adjustments etc in the light of FRS102/105
  • The Herd basis
  • Contract and other types of farming and their tax consequences
  • The HMRC approach to Farms and specific tax problems
  • Capital allowances
  • Sideways loss relief – 2 and 5 years
  • Averaging – 2 and 5 year rules
  • Farmhouse and other private proportions
  • Repairs v renewals
  • VAT issues specific to farming
    • Green Energy – an introduction to the types and problems encountered from planning to VAT and other taxes
    • An intro to capital taxes on the farm:
  • Entrepreneurs relief
  • BPR and APR
  • Farmhouses
  • Common pitfalls to watch for
    • Commercial considerations to watch for now and in the future
  • Brexit
  • MTD
  • And most importantly, spot the cashflow problems!

 Cost:  £140.00 plus VAT

Lunch is included in the price

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Venue

Newcastle Gateshead Marriott Hotel Metro Centre

Address:
Metro Centre
Gateshead
NE11 9XF

Tel No: 0191 493 2233

Speakers

Bob Trunchion

Bob Trunchion

Bob Trunchion is a Tax Principal with MacIntyre Hudson LLP and is one of their tax lecturers.

After service in the Royal Navy, Bob qualified as a chartered accountant with Coopers and Lybrand where he specialised in corporate taxes. On moving to MacIntyre Hudson, he broadened his scope to deal with all types of taxation.

He has a wide range of tax knowledge and lectures on a range of subjects including the tax implications of buying and selling companies, capital tax planning, trusts and share valuation work. He is also specialist in a number of industries or niches such as solicitors, farmers and the medical profession and on the professional indemnity insurance aspects of tax work.

David Missen

David Missen

David joined Larking Gowen in 1983, and specialises in agriculture and rural issues, he also heads up the agricultural specialisation at MHA. He is a founder member and past chairman of the ICAEW Farming and Rural Business Group, past editor of its newsletter, and co-author of the 2014 Wolters Kluwer publication Agriculture: An industry Accounting and Auditing Guide. He speaks regularly on local radio and TV on rural and farming issues and is a part time farmer in his own right.

How to book

The easiest way to book is online by clicking the button to Book Online at icaew.com – you will be able to log into your account at icaew.com and pay with your debit or credit card.

You can also telephone the ICAEW central events booking team on 01908 248159 and pay over the phone.

Alternatively you can download a booking form or book by email.