Farming

TFA call for tax reform

Published

6 years ago

February 13, 2018

George Dunn: TFA chief calls for changes

THE TENANT Farmers Association (TFA) is encouraging the Government to couple fiscal and legislative reform in its forthcoming plans for changes to agricultural tenancies.

TFA Chief Executive George Dunn said “We are pleased that the Government has signalled its intention to bring forward much needed reform to the legal and policy frameworks surrounding agricultural tenancies, but it must not miss the opportunity to reform the taxation environment within which agricultural tenancies operate. Tax is a major driver in the land market and for the decisions land owners make about land occupation. Significant, positive change can be achieved with a small number of sensible tax reforms”.

The top three tax changes the TFA would like to see are:

Restricting Agricultural Property Relief from Inheritance Tax on let land only to land let for 10 years or more.
Abolishing Capital Gains Tax rollover relief for new land purchases but extending relief to investments in fixed equipment on let land.
Abolishing Stamp Duty Land Tax (SDLT) on agricultural tenancies.

“Whilst some are calling for the abolition of Inheritance Tax Relief on farm land, this would be a mistake. History shows this simply leads to unnecessary estate fragmentation and negative restructuring. Instead, we should promote best practice by restricting the relief to land let on the most secure tenancies – those of 10 years or more. There are too many short term farm tenancies which stifle investment, good soil and environmental management and farm business resilience. Promoting longer term tenancies will benefit us all,” said Mr Dunn.

“A major driver of inflation in the land market in recent years has been the availability of Capital Gains Tax rollover relief. Individuals who have made sizeable capital gains elsewhere in the economy have been drawn into the land market as a safe, tax efficient investment driving up its price to unsustainable levels. This has got to stop,” said Mr Dunn.

“The TFA would like to see the abolition of Capital Gains Tax rollover relief for land purchases, with exceptions for those who have lost land through compulsory purchase. Instead, there should be a new relief for investments into fixed equipment on to let land which will assist its productivity, resilience and sustainability,” said Mr Dunn.

“In the farming context SDLT makes no sense at all. This tax penalises longer tenancies but these are exactly what we need in farming. SDLT might make sense in the commercial sector where large corporations seek to avoid tax by using long leases with developers but it has no place in the farming world and should be abolished,” said Mr Dunn.

Farming

Pembrokeshire Agricultural Society in search for county’s top progressive farmers

Published

1 week ago

April 9, 2024

Tom Sinclair

IF you farm in Pembrokeshire and can demonstrate your farm’s use of the latest technological methods to promote progressive, sustainable agriculture then the Pembrokeshire Agricultural Society encourage you to enter the prestigious Baron de Rutzen Award.

Adam Thorne, Pembrokeshire County Show President, said, “We are looking for local Pembrokeshire farmers, under the age of 45, who can demonstrate their farm’s use of the latest technological methods to promote progressive, sustainable agriculture. They also need to show consideration for the environment and habitat sensitivity on their farm as well as present an aesthetically pleasing example of farming in the county. The competition welcomes all livestock and arable sectors to take part.”

Last year’s winners of the Award were Mark and Caroline Davies of Little Newcastle, Haverfordwest. They milk 230 pedigree Holsteins through a fully automated system. They rear their own replacements and also have a small beef enterprise. The farm is all grassland and they follow a strict reseeding and liming policy to optimise the yield from their multi-cut silage system. The couple place significant emphasis on animal health, husbandry and breeding to maximise the efficiency of their system.

Baron John Fredrick De Rutzen was President of Pembrokeshire Agricultural Society in 1936 and the Baron de Rutzen Trophy was produced in his memory. The third Baron served in the Welsh Guards and tragically died, aged 36, in 1944.

This year’s entrants must be fully practising farmers within the county of Pembrokeshire and were under the age of 45 years on 1 January 2024. Entries can either be by nomination or direct application online on the Pembrokeshire Agricultural Society website. Click here to apply: Baron de Rutzen Award | Pembrokeshire County Show | Pembs Agricultural Society (pembsshow.org)

The closing date for nominations and applications is at noon on Wednesday, 29 May 2024.

Farming

Pembrokeshire Agricultural Society elect new president

Published

2 weeks ago

April 1, 2024

Tom Sinclair

ARABLE and beef farmer, Adam Thorne, has been unanimously elected to become the new President of Pembrokeshire Agricultural Society for the year ahead. Adam is the third generation of his family to hold the position.

During the Annual General Meeting of Pembrokeshire Agricultural Society, held last week on the Pembrokeshire Showground, Mr Tim John and his wife Margaret John were also voted in as Presidents elect.

Adam Thorne has had a long association with Pembrokeshire Agricultural Society. After visiting the show as a toddler, then helping show the family’s pedigree Herefords, his uncle got him into helping him with stewarding in his early teens. From there he progressed to being a Steward with his own section, Commercial Cattle, and then also the Butcher’s Lambs section.

From stewarding, Adam became involved with committee work, starting as an Executive and then on to the former Finance and General Purposes Committee. He has been Chairman of the Estates Committee for 12 years and is now a Board member and a Trustee.

Adam said, “I am proud of my long association with Pembrokeshire Agricultural Society. I am the third generation to now be President, following my late grandfather, Walter Thorne, my father, Robert Thorne and more recently my uncle, George Thorne. I am looking forward to my year in the prestigious position.”

Away from his work with the society, Adam runs the family’s arable and beef farm in Robeston West, Milford Haven. He has been heavily involved with Tiers Cross YFC from an early age, having been Club Secretary twice and Chairman. He has also sat on Pembrokeshire County YFC Committees and the Wales YFC Rural Affairs Committee.

The 2024 Pembrokeshire Agricultural Society officeholders, announced at the AGM, include Miss Ffion Edwards who was awarded the role of Ambassador at last year’s show. Ffion, a nurse from Maenclochog, has enjoyed many years of attending the county show and believes that there are so many good elements to it. Ffion has been a member of Llysyfran YFC for 15 years and enjoys every aspect of young farmers – trying new experiences, competing and travelling to name a few. Mrs Nicola Owen was also elected as the Honorary Treasurer.

Brian Jones, the outgoing Pembrokeshire Agricultural Society President, took the opportunity to thank everyone who had helped and supported him throughout his presidency. During his year as President, Brian and his wife Helen, raised a tremendous amount of money for various charities including the Pembrokeshire Agricultural Society, RABI, Tir Dewi and the DPJ Foundation. Brian also gave his assurances that Castell Howell will continue to sponsor the Food Hall for future years.

Pembrokeshire County Show, the largest county agricultural show in Wales, will be held over two days again this summer on 14 and 15 August. Everyone is invited to attend the celebration of rural life in the county.

Pictured (left to right): Ffion Edwards the Ambassador for 2024; Adam Thorne, President; Margaret and Tim John, the Presidents Elect.

Farming

£1,000 bursary award available to Pembrokeshire agricultural students

Published

1 month ago

March 14, 2024

Tom Sinclair

PEMBROKESHIRE Agricultural Society’s £1,000 Bursary Award is now open for applications from students studying agriculture, veterinary science, agricultural engineering, food technology, forestry or other subjects allied to agriculture.

The Student Bursary Award 2024 is available to students, from Pembrokeshire, who are currently studying or have been accepted to start their studies. They can apply for this financial support to assist with their chosen college or career path.

Last year’s winner of the award was Lottie Wilson from Hayscastle. Lottie was studying agriculture at the University of Nottingham when she applied for the bursary. When she is at home she is a general dairy farm worker as well as a lambing hand and a calving beef herd assistant. In 2021 she was the top agriculture student at Hartpury College.

Robert James, Chairman of the Society’s Bursary Committee said, “I would urge all Pembrokeshire students who study subjects that are clearly aligned to agriculture to apply for this bursary as it won’t only assist with your studies but will also give you great experiences such as undertaking an interview which is a key employment skill. It will also assist in your future career within the agriculture industry.”

“A panel of independent judges will draw up a short list of candidates who will be interviewed and the winning candidate will be asked to give a short presentation at a future meeting of the society’s show council.

“The standard of applications has always been exceptional which gives a lot of heart that there are a lot of very talented young people in our community. We are very much looking forward to receiving applications for this year’s bursary and hearing from the younger generation.”

Qualifying students must not have won the student bursary on a previous occasion, the applicant must be studying or has been accepted to study agriculture or allied subjects at a UK college or university at A-Level or higher and the applicant’s family home must be in Pembrokeshire.

The bursary is tax free and will be awarded to the student who, in the opinion of the panel of judges, has submitted the best dissertation on how the bursary will assist them to complete their course of study.

Further details and the entry form can be found online: Student Bursary Award | Pembrokeshire County Show | Pembs Agricultural Society (pembsshow.org) or by calling the show office: 01437 764331. The closing date for applications is noon on Monday, 1 July 2024.