Its mid-December and we only have few windows left on the advent calendar. 2024 seems to have flown!
Whilst the weather hasn’t been a typical Christmas scene of frosty mornings and snowy white mountains, instead we have braved the howling winds of Ashley, Bert, Conall, Darragh, Eowyn, Floris (and many more), we have been left with storm damage and pelting rain and with the trips to London and worries over Tax changes, I think its safe to say that Selby Rural hope and wish all our clients an enjoyable (and well earned) Christmas.
BUSY TIME OF YEAR
The work doesn’t stop for so many of you, in fact the window to do it in seems to get smaller to fit in Christmas events, socialising, family commitments and not forgetting a big Christmas dinner!
2025
What’s in store for 2025, who knows! I don’t think any of us could have predicted many of the events of 2024!
What we do know, is that, from February we should have some more clarification on the IHT changes – what we learn over the first few months of 2025 will help us provide clarity on advice to any changes to farming businesses. Working closely with specialised accountants and solicitors will be important and forming strong working relationships with these people is so important to us.
Anyone looking into the Sustainable Farming Incentive (expanded offer) can do so, without the need for an “expression of interest” form which we hope will make the whole process a little quicker. This would be for a 3 – 5 year agreement. This could well be something to look at in the new year.
Permitted Development applications for new farm buildings are always a popular instruction for us and whilst there is no particular application window for this, the ability to gain consent under the requirements of permitted development is a useful (and much quicker) tool for agricultural businesses. Another one to keep in mind for the New Year.
March tends to also bring out possible notices for rent reviews, or perhaps the deadline to agree a review which was served last March. Whilst not the most pleasant item to receive in the post, early and sensible discussions can help take away the stresses and worries of an impending deadline.
The middle of May always used to be the date for a submission of a BPS claim, but there is no longer the need to do this, if you claimed in 2023 and successfully paid, you will receive a delinked payment in 2025, albeit capped at a maximum of £7,600 following the budget announcements.
The warmer weather will then be with us and the flooded parlours, the broken fences and fallen trees will be a thought from the past. The t shirts will be on and the multiple layers of soggy clothes hung up for another year, but for now, Tom, Carys, Louise and Sharron wish you all the very best for Christmas and the New Year!