Farm accounting

/Farm accounting

WITH OVER 60 YEARS EXPERIENCE, WE UNDERSTAND THE FARMING INDUSTRY

At HC Partners LP, we have been providing accounting advice to Farmers for over 60 years. We understand the agricultural sector and the taxation issues that are specific to farmers. We can advise on the most appropriate livestock valuation options to minimise taxation obligations. We also provide advice on ownership structures that are most suitable for your needs.

We have excellent relationships with all major banks and are able to assist you by reviewing interest rates, seeking finance/refinancing or preparing cashflows where required.

PREPARATION OF FINANCIAL STATEMENTS

SEASONAL PLANNING

PREPARATION OF CASHFLOW FORECASTS

ADVICE ON ACCOUNTING SOFTWARE PROGRAMMES

Farm incomes can vary significantly from one season to the next. The taxation rates for farmers provide for a number of mechanisms to enable income to be spread to even out tax obligations.

At HC Partners LP we feel it is important that our clients have an understanding of the various concessions available including livestock and crop valuation schemes, income equalisation rules, deferral of fertiliser claims, family assistance entitlements, beneficiary distributions from trusts, appropriate farming structures, among many tools available.

We have many years experience in providing succession planning advice to farmers. While this can appear to be a daunting process, often the implementation of a plan is achievable with minimal fuss. We have been involved in many successful succession plans and invite you to call for an initial assessment of your position.

Whether it be an equity partnership with unrelated parties purchasing a farm or whether it is a review of your current ownership structure, one of our strengths is our experience to advise you on the best structure for you. We can discuss the formation and use of trusts and whether a trust is suitable for you circumstances. The structure you adopt needs to meet your specific needs and one size definitely does not fit all. We are able to make sure your structure fits your circumstances.

We have a wide range of farming clients utilising a variety of accounting software programmes. We have witnessed farmers being pushed towards specific programmes regardless of whether the programme was suitable or not.

We are completely independent of software providers and can provide advice to help you choose the most appropriate software for your needs.

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