Funding Your Dream Fact Sheet
Investing in equipment and livestock can prove costly for the new entrant, but with multiple finance options including hire purchase, contract hire and mart finance available, funding the dream can be achievable.
Insignificant interest rates make it a good time to borrow money, but you should tailor the borrowing to the asset to ensure it makes financial sense and is the most tax efficient method. Currently, there are generous tax reliefs on the full purchase price of plant and machinery but less so on building acquisitions (buy or build), so it is vital to know which ‘box’ your purchase falls into in the farm accounts.
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