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Cumberland and Westmorland Herald
  • News
    Multiple fire crews tackle roof fire in Crosby Ravensworth

    Multiple fire crews tackle roof fire in Crosby Ravensworth

    Free domestic abuse support drop-in service launches in Penrith

    Free domestic abuse support drop-in service launches in Penrith

    Penrith bar relaunched with vibrant events planned

    Penrith bar relaunched with vibrant events planned

    Penrith Beacon access closed after vandalism

    Penrith Beacon access closed after vandalism

    Fire crews spend six hours tackling blaze at timber firm’s headquarters

    Fire crews spend six hours tackling blaze at timber firm’s headquarters

    £15 million luxury care home plans for Penrith

    £15 million luxury care home plans for Penrith

    Changes to business rates

    Changes to business rates

    Tesco Express opens doors in Penrith

    Tesco Express opens doors in Penrith

    Nursing award for Penrith’s Fay Dudson

    Nursing award for Penrith’s Fay Dudson

  • Sport
    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

    Penrith gymnasts represent North of England in finals

    Penrith gymnasts represent North of England in finals

    New boss revealed for Penrith AFC

    New boss revealed for Penrith AFC

    Penrith Panthers celebrate winning season

    Penrith Panthers celebrate winning season

    Darren Edmondson leaves Penrith AFC

    Darren Edmondson leaves Penrith AFC

    Lucy plays key role in county T20 triumph

    Lucy plays key role in county T20 triumph

    Gold for Keith in annual festival of orienteering

    Gold for Keith in annual festival of orienteering

    Cumberland and Westmorland wrestlers head to European championships

    Cumberland and Westmorland wrestlers head to European championships

    Kirkby Stephen Hockey Club win league title

    Kirkby Stephen Hockey Club win league title

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Home Farm and Countryside

Survey highlights farmers’ biggest fears and lack of planning for future

by CWH
9 July 2021
in Farm and Countryside, Latest
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Andrew Robinson, of Armstrong Watson

More than a third of farmers fear their businesses will no longer be viable as a result of the changes to subsidies and direct payments, a leading Cumbrian accountancy firm said. 

Armstrong Watson’s initial findings from Rural Agriculture Group Farming Survey showed that while these businesses said they had planned for the changes, they were unsure if they would be able to carry on.   

Respondents included Armstrong Watson’s farming contacts from across the north of England and Scotland who run livestock, dairy and arable farms.

They highlighted the future of subsidies among their top three challenges, which also included climate change and the environment as well as cashflow.  

When it comes to planning for the future, the survey found that only 32 per cent had succession plans in place, 53 per cent either don’t have a will or need to update their existing will, while a further 63 per cent do not have either a shareholder/partnership agreement in place or one that is up-to-date. 

Additionally more than half of the respondents – 58 per cent – who are aged 60 or over, have no Power of Attorney arranged.  

Andrew Robinson, head of agriculture st Armstrong Watson, said: “Some of the findings of the survey were as expected while others are a little alarming.

“It was no surprise that issues including climate change and the environment, changes to subsidies and price volatility rank highly among the biggest challenges for farming businesses and there is a common theme – the lack of control felt by farmers.

“Meanwhile, given that the majority of respondents are aged over 60, and less than half have a Power of Attorney in place, this is something that needs addressing.

“A Power of Attorney allows family members to deal with a person’s finance if they lose mental capacity.

“When it comes to succession planning, our view is that it is best tackled in small steps, with the most important point being communication between the different generations to find out what they are thinking.”

Rural Agriculture Group UK, an association of specialist agricultural accountants, is due to release the national results of the farming survey in the coming weeks.

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