HMRC’s notice that refers to this relief has recently been updated to remove the word 'intensively' from the end of the following sentence: 'Agricultural property that qualifies for Agricultural Relief is land or pasture that is used to grow crops or to rear animals.'

The government announced 13 November that it will extend its Farming Recovery Fund to support farmers badly affected by the recent flooding across Yorkshire and the Midlands.

From 2016/17 onwards farmers now have the option to smooth out their profits over two or five tax years as the result of a change in Finance Act 2016.

Farmers’ and market gardeners’ profits often fluctuate wildly from one year to the next and the tax rules for many years have allowed them to average their profits in order to smooth out those fluctuations. 

From 2016/17 onwards farmers now have the option to smooth out their profits over two or five tax years as the result of a change in Finance Act 2016.

Farmers’ and market gardeners’ profits often fluctuate wildly from one year to the next and the tax rules for many years have allowed them to average their profits in order to smooth out those fluctuations.