Taxes

In today's Farming in Five, chief reporter Rachael Brown looks back at the top news stories of the week, including the Chancellor's Spring Statement, the Defra Secretary facing criticism for visiting only four farms since Labour's General Election win, concerns around the end of funding for Producer Organisations within the soft fruit sector, and King Charles and the Prince of Wales out and about supporting British farming. She also looks ahead to next week, when the Farming Minister will make his first appearance before the Efra Committee to answer questions on the SFI suspension and ongoing industry concerns

In today's Farming in Five, chief reporter Rachael Brown unpicks the Chancellor's Spring Statement after she stood firm on the family farm tax, Defra Secretary has only visited 4 farms since Labour's General Election, with his ministers for flood and nature not visiting any, and livestock farmers are being encouraged to sign up for free vet visits through the TB Advisory Service (TBAS) before the service’s funding ends

Jason Hollands, of wealth management firm Evelyn Partner, said another area that could be subject to an 'overhaul' was the lifetime gifting regime

Tax savings for farmers on furnished holiday lets could soon disappear under Chancellor Rachel Reeves' Autumn Budget changes

Financial experts warn farmers of clauses relating to additional festive earnings

The Office for National Statistics said GDP fell 0.1% in October 2024. Services showed 'no growth', while Production (-0.6%) and construction (-0.4%) both fell.