CLA at LAMMA 2013
by Tim Barnes-Clay, LincsMag Writer.
Date: 01 January 2013
Farmers are facing an unprecedented period of challenge and change with many opportunities for those that prepare, but pitfalls for those that don’t.
“Farmers really will need 20:20 vision to identify the best route forward and that’s why the CLA is urging them to ask themselves where they want their business to be in 2020. Now, more than ever, is the time to plan ahead,” says CLA East director Nicola Currie.
“Given the likely environmental, economic and regulatory changes that lay ahead, issues such as energy and water security should be top of the agenda, as should a strategy for minimizing input costs and making the most of tax reliefs.
“For example, the Chancellor’s announcement in his Autumn Statement to increase the Annual Investment Allowance for plant and machinery 10-fold from £25,000 to £250,000 is great news for the rural economy. Mrs Currie explains: “This means farmers will be able to claim 100 percent capital allowances against their earnings on up to a quarter of a million pounds of equipment a year, for the two years from January 2013. This could kick-start investment in farm machinery, renewable energy projects and other diversification projects.
“However, it is important to avoid the temptation to allow taxation policy to dictate investment plans. Farmers need to carefully consider the machinery requirements of their business over the next five to ten years, taking into account the inevitable advances in precision technology and continued pressure to expand operations, together with fluctuations in exchange rates.”
CLA
The CLA is a membership organisation which represents farming landowners, as well as other rural businesses, and is helping British farmers remain competitive
“Future proofing is at the core of the CLA’s work,” adds Mrs Currie. “ We want our members to be in the best position possible to benefit from the increasing demand for food and environmental security.”
The CLA will be on stand 835, Hall 8 at LAMMA on 16-17 January 2013.
