An increasing number of farmers are looking at the option of incorporating their businesses.

This week in association with IFAC, we publish a guide to farming in a limited company. It gives step-by-step details on what is involved in the process.

Undoubtedly, the most important step is to ensure that incorporating is right for you in the long term — not just to avoid short-term tax liabilities.

Going down the limited company route should only be considered where tax planning entitlements both inside and outside the farmgate have been exhausted. More details in our J3 Planning for Profit supplement.