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Farmers Averaging Relief

Home > Agriculture & Farming > Farmers Averaging Relief

Save tax with Farmers Averaging Relief
Save tax with Farmers Averaging Relief

It is not uncommon for farming profits to fluctuate year on year. Averaging your profits can therefore be beneficial.

The criteria to make a Farmers Averaging Relief claim is as follows:

  • The difference in profits must be more than 25% of the higher profit band
  • Applies only to profits from farming, including rearing of livestock and market gardening
  • You must not be using the cash accounting basis
  • A claim cannot be made in the year of commencing or ceasing as a partner in a partnership
  • You can make the claim over a two or five year period
  • The relief is not available for limited companies

To speak to SFB about saving tax with Farmers Averaging Relief, please contact SFB on 03333 444 171 or email agriculture@sfb.group.

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