Greystones Farm

Today ’ s successful farmers know that it takes much more than agricultural expertise to grow a successful business .

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ACCORDING TO NORTH east chartered accountancy firm , Baines Jewitt , there has been a significant increase from the farming community in seeking out professional tax advice , financial expertise and analysis of potential income streams .

Trevor Cook , partner , Baines Jewitt , explains : “ We work with a broad base of clients from the agricultural sector . These range in size and include family farms , market gardens and contractors .”

In particular , Baines Jewitt is helping more family-run businesses to make the most of their finances .

“ Many of these farms , such as North Yorkshire-based Greystone Farm , which is owned and operated by the Bainbridges , has been passed down through several generations of the same family . Each new cohort brings its own priorities and ideas about how to take the business forward , which creates renewed enthusiasm and fresh challenges ,” explains Trevor .

“ As a professional accountancy and tax services firm , which specialises in helping the agricultural sector , we have seen Greystone Farm enjoy rapid growth over the last ten years or so . Alongside its arable operation , which includes growing wheat , barley , oilseed rape and beans , the business has increased the amount of share farming and contracting work , as well as diversifying into new areas such as free range egg production .”

Although each of Baines Jewitt ’ s agricultural clients is unique , there appears to be a common theme throughout .

“ All of our farming clients need efficient financial control and want to make their businesses profitable . However , we recognise that working in the agricultural sector is very time consuming and requires a lot of dedication and hands-on activity . This can sometimes detract from the business side of things .

“ We aim to relieve that pressure by providing the right support at the right time . This includes everything from accounts preparation , maximising tax relief and cash flow projections to planning for development land sales , inheritance tax strategies and cost effective finance for machinery .”

To find out how Baines Jewitt can help to grow your agricultural business : Tel : 01642 632032 Email : info @ bainesjewitt . co . uk Web : www . bainesjewitt . co . uk

88 Summer 2017 www . farmers-mart . co . uk