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Financial experts in your field
We understand the unique financial challenges facing the agricultural industry, from currency shifts to labour shortages and climate concerns.
Whether you’re tackling tax complexities, expanding, or planning for the next generation, our expert accountants are here to guide you every step of the way. Find out how we can help you:
Access to finance
The costs to growing and maintaining an agricultural business can be vast with the purchasing of machinery, equipment and land, and the seasonal fluctuations in revenue. We appreciate how capital-intensive agriculture can be so any approach to securing funding is important. Our team of specialists are able to offer valuable advice about your financing options to help with the needed upfront investments, which can often cause restrictions to your cash flow. We can also assist by supporting grants applications, helping to move your business forward.
Business planning
With our expert advice, we can help your business grow in a competitive landscape by working out the most efficient structure for your business (partnerships, limited companies). We are then able to review, forecast, and assist with restructuring and updating your business and systems to be fit for purpose both today, and as part of your long-term plans. Additionally, we can provide valuable insights into your business’s financial performance to help facilitate proactive decision-making. Also, if you wish to sell up, pass on, or retire, we can guide you through the practicalities, tax planning and beyond, including financing options, cash flow emergencies and your investment/retirement provisions.
Tax planning and relief
Agricultural Tax rules are complex so forward planning is essential to optimise your tax position. Our team of experienced tax professionals are here to help you claim any reliefs and allowances you might be entitled to. Furthermore, as experts in succession planning and inheritance tax, we can help minimise tax liabilities and maximise wealth, and most importantly, help keep farms in families for generations to come. Our expert tax advice covers topics such as:
- Agricultural Property Relief (APR)
- Farmers’ Averaging Relief
- Inheritance Tax
- Capital Gains Tax
- Planning for succession
Core accounting services
We can assist on annual business accounts preparation, tax compliance, implement accounting systems, provide VAT planning/administration, as well as general bookkeeping. Larger agricultural businesses may benefit from our audit and payroll services.
Our Services:
- Obtaining funding for business expansion, diversification and land purchase
- Preparing profit forecasts and cash flows
- Tax advice: Capital gains tax, Income tax, Inheritance tax
- Preparing monthly VAT Returns
- Business structuring e.g. limited companies, partnerships and trusts
- Providing and planning for pensions and advising on tenancies and property assets
- Succession planning and retirement
Let’s make it happen
Contact us today to see how we could make a real difference to your wealth.
Accountants for Doctors
As specialist accountants for GPs and locums, Wellway offers strategic planning and tax advice for doctors, along with practical services such as tax returns. From advice on IR35 and how your employment status might affect your tax bill to guidance on the tapering of the annual pensions allowance, all of our services are built on years of first-hand experience working with medical practitioners. If you run your own practice, as a partnership or limited company, we can handle finance functions such as payroll and bookkeeping on your behalf.
Accountants for Dentists
We provide accountancy services to dental practice owners, associates and locums alike. As well as standard medical practice accounting services, as specialist dental accountants we can provide support in everything from deciding the best structure for your business to dental practice valuation.
Accountants for Opticians
We support the tax and finance needs of opticians and optometrists operating as sole practitioners, in partnerships, through limited companies or as locums.
We know that in working with opticians, accountants need to be particularly aware of the complexities of VAT. Eye tests, or sight tests, are VAT exempt, for example, and the VAT treatment of spectacles requires an understanding of the dispensing element, which is VAT exempt, vs. the sale of frames and lenses, which are not. Contact us today and see how we can provide you with financial clarity.
Accountants for Vets
Whether you specialise in providing agricultural veterinary services or working with domestic animals, our team of experienced vet accountants can give your practice the tax advice and financial support it needs to grow. From how best to structure your veterinary business to valuations and succession planning, we’re ready to help.
Accountants for Pharmacists
We’re experienced in pharmacy accounting for both businesses and for individual locum pharmacists. For pharmacy practices, whether operating in a single location or across multiple premises, we can provide support with payroll, bookkeeping, VAT returns and corporation tax returns. As locum pharmacist accountants, we’re able to offer tax planning, hands-on help with personal tax returns and wealth management services.
